Wednesday, November 13, 2013

Three-foot higher sea levels could flood $156 billion of Florida’s real estate

Quartz: "Florida’s 1,197-mile (1,926 km) long coast line has long been some of the hottest real estate in the country for retirees and beach lovers. Billions worth of those homes are likely to soon be underwater—and not in the real estate sense.
“$76 billion of Florida property sits on land less than two feet [0.6 meters] above the high tide line,” says a recent report (pdf) co-authored by Climate Central, a group of scientists. ”Within less than the term of a 30-year mortgage, sea level rise could cause floods this high to occur once every five years, or even every year, depending on location within the state.”"

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