4 ms·
People, en masse, rarely react to a problem till it hits them in the face. Florida does get flooded already - Sunny Day Floods, what a beautiful name. Meanwhile
by H8crilA 7y ago
People, en masse, rarely react to a problem till it hits them in the face. Florida does get flooded already - Sunny Day Floods, what a beautiful name. Meanwhile real estate prices keep ignoring the issue:
https://fred.stlouisfed.org/series/MIXRNSA https://fred.stlouisfed.org/series/MIXRNSA
- ozborn 7y agoYes, you are correct. Of interest though is this study: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3073842 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3073842 which indicates that prices are 7% than they would be otherwise.
- mlinksva 7y agoSensitive to exposure -- 22% discount for properties that will be encroached with 1ft sea level rise, 6% with 6ft encroachment -- and to knowledge eg less discount in regions with less belief in climate change, except for investors who don't seem to be influenced by such local beliefs, substantially greater discounting after 2014 IPCC report (dataset from 2006-2017). Recommended read!