Rising Sea Levels Could Cost U.S. Homeowners Close to $1 Trillion
ByBeing underwater will soon mean exactly what it says. Especially in Florida.
When talking about housing, “underwater” usually means you owe more on a mortgage than the home is actually worth. If climate change continues apace, that term could take on a much more literal meaning.
Rising sea levels could soak homeowners for $882 billion, according to a new report from real estate website Zillow. The research takes its initial cue from the journal Nature, which in March found sea levels could rise more than 6 feet by the end of the century. In that scenario, Florida could lose close to 1 million homes, or 13 percent of the state’s current stock. That comes out to $400 billion in value—a figure that doesn’t include losses to commercial buildings or public infrastructure or account for future appreciation in home value…
Rising Sea Levels Could Cost U.S. Homeowners Close to $1 Trillion
