Posted on 11/07/2019 8:35:20 AM PST by Oldeconomybuyer
The fate of home prices in real-estate markets that have a high risk of being affected by climate change could come down to how many local residents actually believe in climate change.
A new study examined the role climate change denial plays in the pricing of these homes. Researchers compared sea-level data from NOAA, current real-estate transaction data from Zillow, and geographic data about climate change attitudes from the Yale Program on Climate Change Communication, which estimates opinions on climate change based on a national data set of 24,000 people.
Having a higher concentration of people who deny climate change will cause home prices to be higher in at-risk areas, the study found. Homes that are projected to be underwater due to climate change sold for 7% more in “denier” neighborhoods as compared with “believer” neighborhoods. Denier neighborhoods are those in which the share of people who believed in climate change was below the national median.
“If everyone were to say, ‘I’m not buying beachfront property here because it’s going to get flooded,’ then prices would collapse,” UBC Sauder School of Business assistant professor and study co-author Markus Baldauf said. “But if you don’t believe in climate change, you might say, ‘You guys are crazy. Climate change isn’t a real thing, so I see a buying opportunity.’”
(Excerpt) Read more at marketwatch.com ...
“Climate-change deniers may be propping up home prices in waterfront communities, research suggests”
Wellll, I for one have trying my damnedest to deny “climate change” hard enough to help prop up the values of these misbegotten properties ...
me and Obama both ...
Is that why Obama bought a waterfront mansion in MA? Because us climate change deniers wanted to appreciate real estate prices?
Hilarious!
We all know Malibu is loaded with Conservatives. /LOL
Are these the same people who say sea levels would be higher if we kill off the sponges in the sea?
Yup... Now Gore can make a killing off his oceanfront Monticito home.
LOL
Try to find a “denier” on Cape Cod or Martha’s Vineyard.
So...Soebarkah can now be considered a "climate-change denier?"
that’s why Obama just paid $16M for a water-front home in the Hamptons.
I would _love_ to see a buying opportunity, but the crazy leftists keep bidding up the price of coastal property!
I wonder for which opinion there is more evidence...
OMG, never go full retard.
LOL! Denier-in-Chief!
“If everyone were to say, ‘I’m not buying beachfront property here because it’s going to get flooded,’ then prices would collapse,”
I really wish the left would put their money where their mouths are and move inland. I’d like to snap up some prime beachfront property before they realize their mistake.
I’ve got a lot about 200’ from the Gulf of Mexico in Florida where I intend to build my retirement home. Judging by the real estate prices around me and the cost of building there must be a lot more “deniers” than “believers”.
I can assure you that it doesn’t concern me in the least. I doubt that the type of person who’s dumb enough to buy into this cult is going to be able to afford to live on a coast anyway.
They have this little problem, ocean-front builders and buyers DON’T BELIEVE THE SCAM! Lol, gotta fix that somehow. “Calling all scientists on the payroll...Emergency meeting!!!”
You mean, like the Obamas buying a home on Martha’s Vineyard? Like that?
Did they take into account the relatively new California law which allows local municipalities to use eminent domain in order to seize waterfront properties. I bet that does wonders for beachfront pricing.
Like the time the all knowing all seeing Oprah said she’ll never eat meat again in order to drive down prices so she could snatch up cattle futures at fire sale prices? I suppose the deniers are colluding with the real estate lobby to keep up those commissions. 0bama holdovers in the FTC better get on the case.
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