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How much was the parcel if you don't mind sharing? I've had similar thoughts regarding Miami near-floodplain real estate - buying land that might hypotheticall

How much was the parcel if you don't mind sharing? I've had similar thoughts regarding Miami near-floodplain real estate - buying land that might hypothetically become the "new coast" based on projections for sea levels over the next 20, 30 years. Obviously a long shot in terms of ROI but I mean the apparent recent increase in hurricanes in those coastal areas in terms of both intensity and frequency is palpable...

nradov 5y ago
The trouble with South Florida is that it's so flat. Any significant sea level rise will mean extensive flooding inland every time there's a major storm because the rainwater won't have anywhere to drain away.
qqqwerty 5y ago
I would avoid coastal communities. Wealthy beachfront owners will likely find a way to socialize their losses, either by getting taxpayers to fund coastal armoring or via direct bailouts. Alternatively there is the risk that property in those areas becomes uninsurable and by proxy unbankable. Hard to predict which way it goes, probably will depend on the individual community. Probably better to buy cheap arable land somewhere in the north that is projected to get warmer and has access to lots of water.
- lotsofpulp 5y ago
  > Wealthy beachfront owners will likely find a way to socialize their losses, either by getting taxpayers to fund coastal armoring or via direct bailouts. Alternatively there is the risk that property in those areas becomes uninsurable and by proxy unbankable. This is not hard to predict because it has already happened for decades. https://en.wikipedia.org/wiki/National_Flood_Insurance_Program https://en.wikipedia.org/wiki/National_Flood_Insurance_Progr... It is not just about wealth though, Florida is (or was) a swing state with a ton of votes for the president, and has only increased in political influence. Politically, it is going to near impossible to stop federal taxpayer funded bailouts for them.

nradov 5y ago

The trouble with South Florida is that it's so flat. Any significant sea level rise will mean extensive flooding inland every time there's a major storm because the rainwater won't have anywhere to drain away.

qqqwerty 5y ago

I would avoid coastal communities. Wealthy beachfront owners will likely find a way to socialize their losses, either by getting taxpayers to fund coastal armoring or via direct bailouts. Alternatively there is the risk that property in those areas becomes uninsurable and by proxy unbankable. Hard to predict which way it goes, probably will depend on the individual community. Probably better to buy cheap arable land somewhere in the north that is projected to get warmer and has access to lots of water.

lotsofpulp 5y ago
> Wealthy beachfront owners will likely find a way to socialize their losses, either by getting taxpayers to fund coastal armoring or via direct bailouts. Alternatively there is the risk that property in those areas becomes uninsurable and by proxy unbankable. This is not hard to predict because it has already happened for decades. https://en.wikipedia.org/wiki/National_Flood_Insurance_Program https://en.wikipedia.org/wiki/National_Flood_Insurance_Progr... It is not just about wealth though, Florida is (or was) a swing state with a ton of votes for the president, and has only increased in political influence. Politically, it is going to near impossible to stop federal taxpayer funded bailouts for them.