According a new analysis of coastal flooding prepared by the nonprofit Union of Concerned Scientists, the nation is at risk of sustained and widespread damage to real estate markets due to rising sea levels. “Underwater: Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate,” which utilizes Zillow data to gauge the rising food risk to U.S. property markets on a ZIP-code-by-ZIP-code basis, expects significant damage in the coming decades.
More info in the article
https://www.curbed.com/2018/6/18/17474076/real-estate-climate-change-coastal-flooding-sea-level
My thoughts on this news
This is an interesting study that gives estimates of property damage in the USA as sea level rises and flooding increases. They use the website Zillow to get property values and the value of those properties when they are destroyed by flooding. One of their estimates is that by the year 2045 about 300k homes and commercial properties in the USA will be dealing with chronic flooding which today is valued at about $135 billion dollars. As time goes on flooding will get worse and by they year 2100 they estimate that about 5 million Americans will be displaced from their homes because of flooding. This is just in the USA, the global impact will be devastating. I have been saying this for a while now with the climate news I share here, do not buy any property near the coast, the values of all coastal properties will be going down in price over the next 80 years and eventually will become worthless...