This comes from the nytimes.com, not me:
http://www.nytimes.com/2016/11/24/science/global-warming-coastal-real-estate.html
MIAMI — Real estate agents looking to sell coastal properties usually focus on one thing: how close the home is to the water’s edge. But buyers are increasingly asking instead how far back it is from the waterline. How many feet above sea level? Is it fortified against storm surges? Does it have emergency power and sump pumps?
Rising sea levels are changing the way people think about waterfront real estate. Though demand remains strong and developers continue to build near the water in many coastal cities, homeowners across the nation are slowly growing wary of buying property in areas most vulnerable to the effects of climate change.
A warming planet has already forced a number of industries — coal, oil, agriculture and utilities among them — to account for potential future costs of a changed climate. The real estate industry, particularly along the vulnerable coastlines, is slowly awakening to the need to factor in the risks of catastrophic damage from climate change, including that wrought by rising seas and storm-driven flooding.
But many economists say that this reckoning needs to happen much faster and that home buyers urgently need to be better informed. Some analysts say the economic impact of a collapse in the waterfront property market could surpass that of the bursting dot-com and real estate bubbles of 2000 and 2008.
The fallout would be felt by property owners, developers, real estate lenders and the financial institutions that bundle and resell mortgages.
Read full article here:
http://www.nytimes.com/2016/11/24/science/global-warming-coastal-real-estate.html
That looks like a healthy distance. But maybe that’s just what they want me to think.
Oceanfront Malibu is what looks a bit dicey to me. Aside from global warming, if there’s an offshore earthquake, good luck getting out of there before the tsunami enema. It’ll happen sooner or later. When it does, there’ll be nothing left but Cher.
That said, I believe we’ve had the earth virtually erased of life around 3 times or so. Why are we supposed to be so special? Get over yourself, and die, is what I say.
People that factor in rising ocean levels on possible beachfront purchases will never afford to live that close to the ocean.
Of course to some extent on the East Coast where folks build on barrier islands (Galveston, the outer banks of NC and Miami Beach for example) it has always been a problem. Consider that the greatest natural disaster in US history so far happend due to a hurricane in Galveston, afterwords they raised the town by 15 feet. (in the first part of the 20th century to boot.) Actually for being near the beach the solution is the house with a very soft first story so that water can flow thru it. (Simple example put the house on stilts, although also a carport works well also). Of course if you have the money to afford a lot on the beach, you should have the money to raise the house on stilts.
“People that factor in rising ocean levels on possible beachfront purchases will never afford to live that close to the ocean.”
Which brings us back to buying a penthouse on a massive cruise ship. In that scenario, rising oceans actually *increase* the value of your home!
When the butt-end of Florida is 10 feet under water, and the “ground floor” of Trump Tower becomes the third floor, insightful rich folks will be clamoring for your coveted spot atop the proud ship, should you ever decide to sell.
It’s a win/win for everyone who’s well to do!
Well that should make properties in hilly San Diego more valuable than those in flat Miami.
I have a reasonable track record when it comes to property, I retired at 45, living on my rentals and my track record on this blog may be checked by reading previous posts going WAAAY back. Jim Amundsen, Scott and Shackleton’s logs say polar ice is essentially the same as it was 100 years ago, global warming is a self serving industry (Oxfam and Greenpeace sent many high level delegates to the last conference in Marakesh for all expenses paid jollies first class – probably wouldn’t have bothered if it was held in Afghanistan or Iran) so if you can snap up a sea front bargain for yourself at a reasonable or bargain price do so without worrying about global warming. Just enjoy living there. I would myself if I could afford it.
Until Oxfam and Greenpeace begin promoting their own signature condom, their existence should be ignored. Without comprehensive population control policy, their schemes are simply postponing the inevitable.
The earth is fine. Humans are in deep trouble, but I’m a boomer, so it’s not my problem, it’s my entertainment. If I were a millennial, and had half an idea of what was in store for me, I’d be sh*tting about now.
But I’m blessed. I’m not young. Older folks don’t feel pain the way they do.
The government will protect the property of the rich while letting common folk wash away: http://www.slate.com/blogs/moneybox/2016/12/07/why_the_feds_let_some_neighborhoods_flood.html
Yippee:
https://timesofsandiego.com/politics/2016/12/07/san-diego-rates-near-perfect-on-climate-change-others-not-so-much/