Florida's Nightmare Scenario from Climate Change

[ergophobe]

Sea levels rise, boats can't sail from inland marinas to the ocean, prices fall, banks stop issuing 30-year mortgages, prices collapse all before the water laps at the door of a single house

https://www.bloomberg.com/news/features/2017-04-19/the-nightmare-scenario-for-florida-s-coastal-homeowners

[Mackin USA]

  Better PREP 4 that 

[rcjordan]

IMO, it's already underway in any coastal community, but only at the fringes. 

[rcjordan]

Far too little. Far, far too late.

http://www.miamiherald.com/news/local/community/miami-dade/miami-beach/article129284119.html

<added>
Politics 100% aside, I am convinced --and know of similar motivations by NC developers-- that the loss of property value for his portfolio of holdings is the underlying reason for Trump's climate-change denial.

[Brad]

At some point the Federal Government will stop selling flood insurance for coastal properties in Florida and other very high risk properties nation wide.  Even with a slow 10 to 20 year phase out that will sink *pun* property values.

[ergophobe]

Politics 100% aside, I am convinced --and know of similar motivations by NC developers-- that the loss of property value for his portfolio of holdings is the underlying reason for Trump's climate-change denial.

It doesn't have to be willful. Again, politics aside, we *all* have trouble integrating evidence that fundamentally contradicts our worldview or that threatens our livelihood. That's baked into the human brain. Of course, when we're at our best, we can overcome it, but we're often not at our best.

[rcjordan]

High Ground Is Becoming Hot Property as Sea Level Rises
_{Climate change may now be a part of the gentrification story in Miami real estate}

https://www.scientificamerican.com/article/high-ground-is-becoming-hot-property-as-sea-level-rises/

[rcjordan]

Miami's best real estate is under threat from rising sea levels, so the wealthy are moving to higher ground

https://www.abc.net.au/news/2021-09-14/miami-building-collapse-climate-change-gentrification/100376068

[ergophobe]

Moving to higher ground in FL strikes me as someone who is fairly shortsighted. Short of massive desalination plants, I don't see where the drinking water comes from given the nature of Florida water supply. So much is already salinating.

[DrCool]

>>fairly shortsighted

ALL of Florida is fairly shortsighted

[rcjordan]

Climate migration is already happening — for homeowners who can afford it

Homeowners relocating because of climate change, wildfires, flooding
https://www.cnbc.com/2021/09/16/homeowners-relocating-because-of-climate-change-wildfires-flooding.html

[rcjordan]

Florida and Louisiana are borrowing hundreds of millions of dollars to cope with hurricane insurance claims

https://qz.com/florida-and-louisiana-are-borrowing-hundreds-of-million-1850402783

[Rupert]

From the bottom of the CNBC article

There are plenty of potential buyers. Consistent with Redfin's findings that more people are moving into high-risk areas, Romano said that the market is hotter than ever. After buying the house for approximately $650,000 12 years ago, she and her realtor are going to list it for $1.2 million.

some are clearly not seeing it yet.

[ergophobe]

I haven't looked into it in a long time, but heavily subsidized flood insurance makes this possible (or at least that used to be a main driver)

[ergophobe]

The Florida town built to weather hurricanes

https://www.bbc.com/future/article/20230904-babcock-ranch-floridas-first-hurricane-proof-town