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Sea level rise is eroding home value, and owners might not even know it

5 Jan, 2019 5:00am

Elizabeth Boineau's 1939 Colonial sits a block and a half from the Ashley River in South Carolina in a sought-after neighbourhood of ancient live oaks, charming gardens and historic homes.

A year ago, she thought she could sell it for nearly $1.5 million. But after dropping the price 11 times, Boineau has decided to tear it down. In March, the city's Board of Architectural Review approved the demolition - a decision not taken lightly in Charleston's historic district. "Each time that I was just finishing up paying off the bills, another flood would hit," Boineau said.

Boineau is one of many homeowners on the front lines of society's confrontation with climate change, living in houses where rising sea levels have worsened flooding not just in extreme events like hurricanes, but also heavy rains and even high tides.

Now, three studies have found evidence that the threat of higher seas is also undermining coastal property values, as home buyers - particularly investors - begin the retreat to higher ground. On a broad scale, the effect is subtle, the studies show. The sea has risen about eight inches since 1900, and the pace is accelerating, with three inches accumulating since 1993, according to a comprehensive federal climate report released last year.

Scientists predict the oceans will rise another three to seven inches by 2030, and as much as 4.3 feet by 2100. Meanwhile, mapping has become increasingly precise, providing near-exact elevations that let researchers predict when individual properties could be underwater.


Dave Brat (VA-LOSER) has found the revolving door


Outgoing congressman Brat lands job at Liberty University business school

By Gregory S. Schneider January 2 at 3:30 PM
Outgoing congressman Dave Brat (R) has wasted no time finding a new gig in academia after losing his seat in Congress, taking over Wednesday as dean of the business school at Liberty University in Lynchburg.

The announcement came just a day before the 116th Congress convened in Washington with Democrat Abigail Spanberger replacing Brat as representative of Virginia’s 7th District.

Brat lost to Spanberger in November after serving two terms. He is best known for his shocking upset of then-House Majority Leader Eric Cantor in 2014, beating the powerful incumbent in a Republican primary that foreshadowed Donald Trump’s populist power at the polls in 2016.

The Republican who once toppled Cantor (also VA - LOSER) ran timidly this time in Virginia’s 7th District

A former chairman of the economics department of Randolph-Macon College outside Richmond, Brat cast himself as a conservative economist who would challenge the Republican orthodoxy.



Safe in Falwell's loving embrace...just bong his time until he can cheat his way back into government..

and probably making lots more money too
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