Property crisis looms due to sea level rise
MetadataShow full item record
Along Florida’s sun-splashed shorelines, home prices are on the rise, developers are busy building new complexes, and listings just blocks from the beach describe homes that are “not in a flood zone,” meaning no flood insurance is required. But experts warn that ignoring sea level rise won’t prevent a looming economic crisis caused by water-logged homes that will someday become unsafe, uninhabitable and too costly to insure. A reality check may come sooner than many may think, according to a report out Monday by the Union of Concerned Scientists, which finds as many as 64,000 coastal residences worth $26 billion in Florida are at risk of chronic flooding in the next 30 years, the life of a typical mortgage.
Property crisis looms due to sea level rise. (2018, June 19). BusinessWorld, p. S2/4.
Associated contentOnline version
- BusinessWorld 
Showing items related by title, author, creator and subject.
Makabenta, Yen (The Manila Times,
December 14, 2018, on page A4)Many Filipinos have bought the climate change (global warming) dogma for two key reasons: First, they swallowed the claim of sea level rise, and they got scared by the thought that the Philippines as a Pacific island nation ...
Agence France-Presse (AFP) (The Manila Times,
June 19, 2018, on page B7)About 311,000 coastal homes across the United States with a collective market value of about $120 billion in today's dollars are at risk of chronic flooding by 2045, a report issued yesterday by the Union of Concerned ...
Agence France-Presse (AFP) (Philippine Daily Inquirer,
April 16, 2021, on page A11)After fleeing to France to escape the Spanish Civil War, Amalia Romero’s family eventually managed to build a home on the south coast directly looking out over the Mediterranean. But today, the sea is gradually gnawing ...