Why is beachfront property worldwide going for ever increasing prices when it’s due to be underwater in “a few years”? Or - why are insurance companies still writing policies on said properties? 2 and 2 aren’t adding up to 4.
http://news.nationalgeographic.com/news/2008/03/080306-sea-levels.html
Sea Levels to Plunge Long Term, Study of Dino Era Says
“There’re natural processes that also contribute to sea level change and are in fact independent of ice cap melting,” said Dietmar Müller, a geologist at the University of Sydney in Australia.
In fact, the data reveal that the long-term trend in sea levels since the Cretaceous has been downward, said Müller, who led the study appearing in tomorrow’s issue of the journal Science.
When this trend is extrapolated out 80 million years from now, it suggests that even if all of today’s ice caps were to melt, sea levels would be 230 feet (70 meters) lower than they are today
You said it! Oceanfront property should be at bargain basement prices these days. Never mind `rising seas’, hurricane season makes homeowner insurance prohibitive if you own on front beach.
Then there’s the new threat of runaway continents made mostly of ice. Help!!!