King tide brought high waters that flooded several low-lying streets on Normandy Isle in North Beach on Oct. 5, 2017. New research shows that lower elevation single family homes, which are more vulnerable to sea level rise, gain value slower than their higher elevation peers. Credit: Joey Flechas/miamiherald
Creeping flood waters driven by sea rise have yet to reach the doors of most homes in Miami-Dade, but research shows the looming threat from climate change is already affecting their value. And not in a good way.
New data from Harvard University and the University of Colorado suggests that homes in lower elevations are selling for less and gaining value slower than similar ones at higher elevations. Researchers see that as sign that some buyers are factoring climate risks into their offers and investments — a trend that could have major implications for a state with more coastal real estate at risk than any other.
Miami’s real estate professionals, however, are skeptical of the climate ripple effect, pointing out the continued […]
Most of the water causing problems is coming from the sky. Day after day we see heavy rains drenching the SE US.
The link to the full article has been corrected.
Info/data is coming from all over the world that low lying areas of coastal communities are experiencing some degree of flooding without storms. Things are changing from the historical norm, and fast, yet climate change deniers see nothing but scientific fraud and economic sabotage. I just don’t get it???