Climate has been affecting everything around us due to increase in greenhouse gases in the atmosphere. Who would’ve thought that it can affect real estate as well? Here are a few findings on how the real estate is being affected due to climate change.
Properties going underwater.
There has been an overall increase in temperature of earth leading to the melting of polar caps. This melting has caused the sea levels to rise and thus submerging coastal areas. At this rate Zillow predicts that $882 billion worth properties will be underwater by 2100.
Here are a few prediction made by
Zillow for some metro cities.
Coastal Area Prices Dropping
Like mentioned in the above topic that the coastal properties are drowning in the near future, so are the prices of the coastal areas. The price drop has actually started effecting in many countries such as
- Florida Key where the water level is expected to rise by 15 inches in next 30 years.
- The Rhone Valley in France known one of the most wanted winemaking regions will be submerged making it inhospitable for grapevines
- Portland where there is a price drop due to frequent floods. And more such places….
Low Lying Areas Losing Value
Due to the problems faced by the increasing water levels, the sales of properties in the low lying areas have become difficult. To overcome this problem they have been dropping the prices of such location, thus creating value depreciation for low lying properties.
Forest Areas Becoming Less Preferred
The gradual increase in temperature of the earth has caused wildfires more frequent during the summers. The once preferred place is starting to become a nightmare for lots of people. Most people residing close to the forest areas are starting to move away to safer zones.
Insurance Prices Going Up
- Climate changes have not only caused an increase in wildfires, but it has also caused an increase in the number of natural disasters happening every year.
- Studies done by USGS states that with the increase in water vapor in the atmosphere, the surface will be subjected to more powerful storms and hence greater damages. This will be the leading reason for insurance companies to increase comprehensive insurance price.
- Another reason for the increase in insurance prices will be due to frequent natural disasters occurring in many places.
Higher Property Taxes
There has obviously been an increase in damages caused to infrastructure due to increased natural disasters. The government has to take the responsibility to build back the infrastructure, leading to increased property taxes.
19 Responses
An impressive share! I’ve just forwarded this onto a coworker who had been doing a little homework on this. And he in fact ordered me breakfast simply because I stumbled upon it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanx for spending some time to talk about this matter here on your website.
Pretty! This was a really wonderful post. Many thanks for providing this information.
The next time I read a blog, I hope that it doesn’t disappoint me as much as this one. I mean, Yes, it was my choice to read through, nonetheless I truly believed you’d have something interesting to say. All I hear is a bunch of complaining about something that you could possibly fix if you were not too busy searching for attention.
I enjoy reading through an article that can make people think. Also, thanks for allowing me to comment.
I blog often and I truly appreciate your content. The article has truly peaked my interest. I’m going to bookmark your website and keep checking for new information about once per week. I subscribed to your Feed as well.
This is the perfect website for anybody who would like to find out about this topic. You know a whole lot its almost tough to argue with you (not that I actually would want to…HaHa). You definitely put a new spin on a topic that’s been discussed for years. Wonderful stuff, just wonderful.
Oh my goodness! Amazing article dude! Many thanks, However I am experiencing problems with your RSS. I don’t know the reason why I cannot join it. Is there anyone else getting similar RSS problems? Anybody who knows the answer can you kindly respond? Thanx!
An impressive share! I’ve just forwarded this onto a coworker who has been doing a little homework on this. And he actually ordered me lunch due to the fact that I found it for him… lol. So allow me to reword this…. Thank YOU for the meal!! But yeah, thanks for spending time to talk about this subject here on your website.
This is a topic which is close to my heart… Cheers! Where can I find the contact details for questions?
This excellent website definitely has all of the info I needed concerning this subject and didn’t know who to ask.
Good article! We will be linking to this great article on our website. Keep up the great writing.
Good day! I could have sworn I’ve visited this web site before but after browsing through some of the posts I realized it’s new to me. Anyhow, I’m definitely happy I came across it and I’ll be bookmarking it and checking back often!
There’s definately a lot to know about this subject. I love all the points you have made.
A fascinating discussion is definitely worth comment. There’s no doubt that that you should write more about this issue, it might not be a taboo matter but generally people do not talk about such topics. To the next! Many thanks!
Your post is a valuable addition to the discussion.seo 백링크
Your writing is insightful and thought-provoking.seo 최적화
Everyone loves it whenever people get together and share thoughts. Great blog, stick with it!
Good post! We will be linking to this great post on our site. Keep up the good writing.
I really like it whenever people come together and share ideas. Great site, stick with it!