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I think you have to look at it in the context of home ownership. There was a NYT article [1] about Norfolk and the relationship between flood insurance, climate
by michaelbuckbee 10y ago
I think you have to look at it in the context of home ownership. There was a NYT article [1] about Norfolk and the relationship between flood insurance, climate change and housing values.
I live in Virginia Beach, in what's officially not a flood zone, but Hurricane Matthew (which was pretty mild as things go) put our street 4 feet underwater and about a foot below our front door.
If our neighborhood gets redesignated as a flood zone, we'll lose a big chunk of our house value immediately and may not be able to sell it.
I'm definitely thinking that we need to move sooner rather than later as no matter if it's 32, 28, or 57 centimeters of sea level rise it's hard not to think we won't see more hurricanes, worse flooding, etc.
1 - https://www.nytimes.com/2017/04/18/magazine/when-rising-seas-transform-risk-into-certainty.html?partner=socialflow&smid=tw-nytmag&smtyp=cur https://www.nytimes.com/2017/04/18/magazine/when-rising-seas...
- WillPostForFood 10y agoLike most articles about Norfolk, it is incredibly disingenuous to focus on sea level rise, and not land subsidence, which is the primary cause of the flooding there.
- treebeard901 10y ago> the relationship between flood insurance, climate change and housing values This is a really interesting perspective on the problem. If one of these three variables change dramatically it will feed back into the others. The average person may not try to predict their future home value 5-10 years out or have enough scientific background to understand climate science but an insurance company covering the area will have to consider both. It will be increasingly difficult for people to deny climate science as large number of homes and business properties lose value while at the same time their insurance rates dramatically increase. EDIT: a word