5 ms·

I have a hard time to see why people would invest in miami since the city is subject to having large issues with rising sea levels in the future.

offby37years 6y ago
Actions speak louder than words. If multi-billion dollar multinationals don't foresee such happening, perhaps you should reevaluate your own premises.
- notfromhere 6y ago
  I remember this logic when multi-billion dollar multinationals were issuing and securitizing bad mortgages. Didn’t pan out like they thought
  - jjeaff 6y ago
    Worked out well enough for them. Reaped huge windfall profits for years then got bailed out by the government with hardly any consequences.
- whynotminot 6y ago
  Multi-billion dollar multinationals that mostly only care about the next quarter’s earning call?
paul_f 6y ago
24 inches in 80 years is the worst case scenario. I don't think this is going to be an unsolvable problem.
- deleted 6y ago
  [deleted]
- acdha 6y ago
  It’s 12-36 inches (a big deal at 6 feet elevation) but the bigger issue isn’t the average but the peak during storms and flood events with such water tables. That affects less obvious things like the sewage system, coastal erosion, etc. Billions of dollars in things like sea walls and disaster relief will probably keep Miami around as a major city but it’s not going to be cheap and the uncertainty over the period of a 30 year mortgage will have a big impact on the real estate market. Here’s a report you might find interesting: https://www.rff.org/publications/reports/florida-climate-outlook/ https://www.rff.org/publications/reports/florida-climate-out...
- nradov 6y ago
  It's solveable but the cost will be huge. The immediate problem is drainage of rainfall. Even a slight rise in sea level will drastically reduce the rate of drainage and lead to frequent flooding. So roads and buildings will have to be elevated and new larger drainage channels dug, with pumps in some places.
missedthecue 6y ago
Sea walls are inexpensive 800 year old technology.
- nradov 6y ago
  Sea walls are ineffective with a karst substrate.

offby37years 6y ago

Actions speak louder than words. If multi-billion dollar multinationals don't foresee such happening, perhaps you should reevaluate your own premises.

notfromhere 6y ago
I remember this logic when multi-billion dollar multinationals were issuing and securitizing bad mortgages. Didn’t pan out like they thought
- jjeaff 6y ago
  Worked out well enough for them. Reaped huge windfall profits for years then got bailed out by the government with hardly any consequences.
whynotminot 6y ago
Multi-billion dollar multinationals that mostly only care about the next quarter’s earning call?

paul_f 6y ago

24 inches in 80 years is the worst case scenario. I don't think this is going to be an unsolvable problem.

deleted 6y ago
[deleted]
acdha 6y ago
It’s 12-36 inches (a big deal at 6 feet elevation) but the bigger issue isn’t the average but the peak during storms and flood events with such water tables. That affects less obvious things like the sewage system, coastal erosion, etc. Billions of dollars in things like sea walls and disaster relief will probably keep Miami around as a major city but it’s not going to be cheap and the uncertainty over the period of a 30 year mortgage will have a big impact on the real estate market. Here’s a report you might find interesting: https://www.rff.org/publications/reports/florida-climate-outlook/ https://www.rff.org/publications/reports/florida-climate-out...
nradov 6y ago
It's solveable but the cost will be huge. The immediate problem is drainage of rainfall. Even a slight rise in sea level will drastically reduce the rate of drainage and lead to frequent flooding. So roads and buildings will have to be elevated and new larger drainage channels dug, with pumps in some places.

missedthecue 6y ago

Sea walls are inexpensive 800 year old technology.

nradov 6y ago
Sea walls are ineffective with a karst substrate.