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If you want to say it that way, then the corresponding question is why hasn't there been a huge sell-off of waterfront properties, especially since their curren
by PakG1 8y ago
If you want to say it that way, then the corresponding question is why hasn't there been a huge sell-off of waterfront properties, especially since their current value is so high and their long-term value will probably only degrade in this scenario to nothing.
A lot of people have incentive to find solutions to maintain the shoreline in some usable manner, or some facsimile thereof. Insurance companies are finding it super hard to figure out what the premiums should be for insuring this problem, and if they can't figure it out easily, how can buyers/sellers, especially in the short-term compared to long-term?
- zjaffee 8y agoBecause the US government has a history of reclaiming the beach as erosion begins happening largely because the economic gain in doing so is higher than it's current cost. I'd expect this to continue far into the future.
- yters 8y agoI'm curious why insurance companies can't at least determine some lower limit. E.g. take the most conservative estimate out there and go up from there.