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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.