People tend to respond to immediate threats and financial consequences – and Florida’s coastal real estate may be on the cusp of delivering that harsh wake-up call. Read THIS RECENT ARTICLE from The Guardian and, for a more detailed analysis, the following report by the Union of Concerned Scientists: Under Water: Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate (2016). According to the report:
Properties will not be the only things to flood. Roads, bridges, power plants, airports, ports, public buildings, military bases, and other critical infrastructure along the coast also face the risk of chronic inundation. The direct costs of replacing, repairing, strengthening, or relocating infrastructure are not captured in our analysis, nor do we account for the indirect costs of flooded infrastructure, including disruptions to commerce and daily life (Neumann, Price, and Chinowsky 2015; NCA 2014; Ayyub and Kearney 2012). Taken together, these costs of chronic flooding of our coastal built environment—both property and infrastructure—could have staggering economic impacts.