Thinking of buying an oceanside home? You might think again, according to Zillow, the realty website and blog. Conservatives legislators may still be denying reality, but realtors and insurance companies are paying attention. The Effect of Rising Sea Levels on Coastal Homes, by Melissa Allison on 2 Aug 2016, spells out exactly what it means — especially for folks in the east and southeast.
Here’s the link, but I’ll include a few bits of information here: http://www.zillow.com/blog/rising-sea-levels-coastal-homes-202268/?utm_source=email&utm_medium=email&utm_campaign=emm-0816_buzzrisingwaters-ctabutton
Despite record-warm years and some crops already reacting to unusual shifts in the weather, climate change for many people remains an issue for the future. That future came a little closer this year, when scientists studying Antarctic ice loss reported that if carbon emissions continue unabated, sea levels could rise six feet this century — significantly higher than previous predictions of a two-foot rise by the year 2100.
If the oceans rose six feet today, 1.87 million homes in the United States valued at $882 billion would be flooded by sea water, according to a Zillow Research analysis using data from the National Oceanic and Atmospheric Administration (NOAA).
Roughly half of them — 934,411 homes, worth $413 million — are in Florida.
The article discusses more specifics about Florida — interestingly, it doesn’t mention port and oceanside cities on the West Coast. I’m wondering about the impact on the San Francisco Bay… Seattle and Portland… Los Angeles and San Diego… Monterey Bay … even the Sacramento Delta as water levels rise in San Francisco Bay. But back to the story:
Migrations caused by rising sea levels would create a paradigm shift from a world with stable shores to one with moving shores, Strauss said. “And they’re going to keep moving for centuries.”
He also pointed out that ports all over the world are at sea level. “Europe has been rocked by a migration crisis the last couple of years, but that’s very small compared to what the world is likely to see if the sea-level rise continues to accelerate.”
Are you imagining what might happen as coastal residents need to move inland and whole cities begin to be eaten away? The article mentions how this is already happening in Louisiana, though no one is really dealing with it yet. Looks like Denial isn’t only a river in Egypt….
Then the article looks at the impact on the insurance business (yes, they’re paying attention).
Asked about the predictions of seas rising six feet, Dennis Burke, vice president of state relations at the Reinsurance Association of America said, “If that happens, there will be parts of the country that are uninhabitable. That should be a concern to all of us, particularly with the shifts in demographics where more people are moving toward the coast because it’s a nice place to live.”
The industry is in touch with NOAA, and understands that the science indicates there will be rising sea levels, said Burke, who also spoke at a “Climate Risk Summit” this summer in Washington State.
Do you have children and grandchildren? Hmmmm. You might want to buy a nice chunk of land somewhere inland while the getting is good, for their futures.