Obama has no worries. Sea level rise will shorten the walk.
Posted on 06/14/2024 10:45:26 AM PDT by ChicagoConservative27
As sea levels rise and storms intensify, coastal real estate is seeing flooding and erosion like never before. From Dana Point, California, to Long Island, New York, and Nantucket, Massachusetts, some of the nation’s priciest coastal real estate is in an increasingly precarious position due to climate change.
This year’s hurricane season is already underway, and the forecast is for “above-normal” activity, according to the National Oceanic and Atmospheric Administration (NOAA). It predicts up to 13 hurricanes, with four to seven categorized as “major” storms.
Various risk models have shown myriad projections for falling real estate values, but the effects of climate change are already hitting the market — and at a faster pace than most expected.
A Nantucket home listed last summer for just over $2 million sold early this year for just $600,000. A barely remarkable Nor’easter in the fall wiped away an astounding 70 feet of the beach it sits on, thanks to sea level rise and unusually intense rainfall.
(Excerpt) Read more at cnbc.com ...
Obama has no worries. Sea level rise will shorten the walk.
“...some of the nation’s priciest coastal real estate is in an increasingly precarious position...”
Meaning the prices are not in any way dropping, but the author (or, probably, the author’s editor), thinks they should be!!!
Bronco at risk.....
Exactly.
I live in Florida. If luxury homes on beaches "are losing value fast," the trend hasn't reached here. Or anywhere else on the Eastern Seaboard. Or the West Coast.
“Guam is still there”
Is it listing yet?
Archimedes Principle be damned.
I literally had a family member ask a friend in Florida about it…because they understood it was a particular problem in Florida.
SMDH.
Could anyone be so obtuse as to confuse a nor’easter’s effect on already shifting sands with climate change. I guess so, liberal girl reporters maybe.
“A barely remarkable Nor’easter in the fall wiped away an astounding 70 feet of the beach it sits on, thanks to sea level rise and unusually intense rainfall.”
Notice how they downplay the heavy rainfall, which is what caused all the erosion, and emphasize the nonexistent “sea level rise”. And they never mention how much that sea rise is, or that the sea has risen since the last ice age and that whatever sea rise there may be today is puny compared to what happened in the past.
Propaganda at its finest.
“Welcome to your annual hurricane fear porn.....copy and pasted from every year in the past.”
And it’s been wrong every year, but they keep repeating it.
There’s no shortage of gullible useful idiots in this world.
Wouldn’t have anything to do with ultra-high end property market deflating, would it?
The result is more erosion, and when hurricanes hit there are no more mangroves to provide some protection against the surge of the ocean tide.
So NOT climate change. It's DEVELOPMENT DECISIONS by the politicians who allowed the mangrove removal ... which by the way harbor all kinds of wildlife.
So much for their almighty environmental concerns.
Not just taxes, but the cost of INSURANCE.
Which you, me and everyone who pays Federal taxes is subsidizing in the form of National Flood Insurance.
Many of these homes are built on shifting sand dunes on a barrier island. The get trashed or flooded and rebuilt in the exact same spot because of FEMA National Flood Insurance.
Some houses get paid over and over up to three times in one year.
A buddy has a house in Wells, ME. Across the street from the Atlantic. His place got flooded and he got paid. Some of the places near him got paid three times in the last year.
That may well be, but prices for beach homes on the north coast of Florida have been plummeting!
Yeah, i forgot about insurance (how could I have forgotten?).
Homeowners can no longer afford the insurance.
There's a huge pile of data. It's risen around 300 feet since the end of the last Ice Age approx. 13,000 years ago. Last figures I saw said it's currently rising around 2 mm. a year. Dangerous! Build an Ark!
There are two processes, subsistence and sea level rise. In the Southeast United States subsistence, the lowering of land level due to settling of soil, aggravates the effect of sea level rise. Sea level rise is real and has been going on since the end of the last ice age. The Thames was once a tributary of the Rhine, their confluence was in what is now the North Sea.
Subsistence is especially bad around New Orleans which is built on silt. Places like Nantucket, Marthas Vineyard and Cape Cod are little more than glacial moraine, piles of sand 600 feet high deposited by glaciers during the last ice age. The sea is gradually reclaiming them.
Derek Jeter finally sells Upstate NY castle after reducing price
New York Yankees great Derek Jeter is leaving the Empire State after selling his Upstate New York castle.
Jeter has sold Tiedemann Castle, a waterfront property on Greenwood Lake in the Hudson Valley, after reducing the price. He initially tried to sell the vacation home at 14 Lake Shore Road for $14.75 million in 2018, but listed it again last month at a jaw-dropping discount of $6.3 million.
OBX prices remain high.
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