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Sea Level Rise Already Causing Billions in Home Value To Disappear (axios.com)
Sea level rise may seem like a far-off threat, but a growing number of new studies, including one out this week, shows that real estate markets have already started responding to increased flooding risks by reducing prices of vulnerable homes. From a report: According to a new report by the nonprofit First Street Foundation, housing values in New York, New Jersey and Connecticut dropped $6.7 billion from 2005 to 2017 due to flooding related to sea level rise. Combined with their prior analysis of 5 southeastern coastal states with $7.4 billion in lost home value, the total loss in 8 states since 2005 has been $14.1 billion. A recent slew of studies show how the housing market is responding to the increasing risk of coastal flooding -- with billions in value disappearing as investors wake up to the systemic risk.
Coastal homes are flooding because you have destroyed the buffer zones (marshlands/swamplands) that stopped the water from entering the area. What did you think would happen when you destroy the buffer zones for housing? It has nothing to do with climate change/whatever. But no one wants to address that issue, because there is no money in it.
This is about the cost for capital, but sea level rise impact on the whole economy is likely to be much larger.
Except when they use their political influence to get the city to reject managed retreat as a coastal erosion adaptation strategy. Guess who those homeowners expect to pay to rebuild the coastline?
Any sufficiently unpopular but cohesive argument is indistinguishable from trolling.
Funny. Lots of people are disagreeing with them but I can't find where they are shooting at anyone.
I read at +2. If your post doesn't reach that level I will not see or respond to it.