In Miami Beach, more than $6 billion worth of real estate could be wiped out by 2045

[riversedge]

I think it is past time for one of Trumps vile rally's to get flooded out--maybe with a 1000 year flood. Of course, the fans just get wet, no deaths. --still--all those red hats and signs floating down the streets would be a delight to see.




Salon Verified account @Salon

In Miami Beach, more than $6 billion worth of real estate could be wiped out by 2045

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Rising seas could wipe out $1 trillion worth of U.S. homes and businesses
Miami Beach is the community most at risk nationwide


June 23, 2018 1:59pm (UTC)
This post originally appeared on Grist.

Some 2.4 million American homes and businesses worth more than $1 trillion are at risk of “chronic inundation” by the end of the century, according to a report out Monday. That’s about 15 percent of all U.S. coastal real estate, or roughly as much built infrastructure as Houston and Los Angeles combined.

The sweeping new study from the Union of Concerned Scientists is the most comprehensive analysis of the risks posed by sea level rise to the United States coastal economy. Taken in context with the lack of action to match the scale of the problem, it describes a country plowing headlong into a flood-driven financial crisis of enormous scale.



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Yes, it is coming. Here in the Netherlands we've been preparing for more rain and higher sea levels since the 1980's. Higher dikes, more space for rivers and flood plains, overflow storage bassins, bigger sewers. It's not cheap and requires a lot of political will but it can be done. For our country, it is a matter of life and death.

Well that isn't the American way. At least not anymore. We wait until the whole thing blows up and then pat ourselves on the back over how well we recovered. Something like "Yeah, the 'gator bit my leg off like y'all said it would, but look how well I can dance on one leg!" Ain't we great! Truly exceptional people! Then we make fun of Europeans because they can't dance on one leg nearly as well as we can.

Making Dancing Great Again!
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[Thekaspervote]

1. Let maralogo be in that group... sorry for all the Floridians

[greymattermom]

2. It will be

Mar means sea
Lago means lake
Actually, it's the intercoastal waterway.
Both will be rising.

[Nitram]

3. Better sell before the tide rises...

[silverweb]

4. Buyers might be a bit scarce.

They'd have to belong to a tiny minority of the population: completely clueless, blind, climate change-denying billionaires.

[Igel]

5. Meh.

Those buildings can be replaced for a lot less than the current going price. Much of the value-added is location. The losses can be seen as having occurred when the buildings were purchased (or the lots purchased), but realized when the buildings are deemed unsalable.

As soon as the district relocates to cheaper land, the knock-on value-added due to location and prestige will follow. Knew a guy who bought acres of scrub land back in the '20s and '30s, only to find in the '60s that much of it had become downtown Reno. The land itself appreciated because land in that particular spot was in demand--not equivalent land 20 miles away. The land was worth more than the buildings on the land in many cases.

[Uncle Joe]

7. Good locations will become ever more difficult to find as the escalating effects

of global warming climate change makes itself known.


https://19january2017snapshot.epa.gov/sites/production/files/2016-09/documents/climate-change-nv.pdf

[Blue_Tires]

6. This is why electing science-hating anti-intellectuals will kill us all...