4 ms·
I think you're overestimating Miami's budget... sure, there are a lot of wealthy people living there, but that doesn't mean the city itself is that wealthy. BT
by rob74 5y ago
I think you're overestimating Miami's budget... sure, there are a lot of wealthy people living there, but that doesn't mean the city itself is that wealthy.
BTW, if sea levels rise, property values in Miami are liable to go down the drain anyway, hurricanes or no hurricanes...
- tamaharbor 5y agoIf sea levels rise there will be less available property which will ultimately cause property values to increase.
- vixen99 5y agoJudging by these figures, looks like this will be a major issue very soon. https://sealevel.nasa.gov/understanding-sea-level/by-the-numbers https://sealevel.nasa.gov/understanding-sea-level/by-the-num...
- jean_tta 5y agoThis assumes the demand for property stays the same. Is it likely, once it becomes obvious there's a chance your property will be destroyed by rising sea levels?
- sgc 5y agoI used to think that obviously coastal real estate would plummet in value after a few high profile losses. After this pandemic I no longer think it will happen except very, very slowly. But the beaches will be gone for perhaps centuries, the sand will wash away / get covered in water. Sand does not form in a day. I have seen this in areas of Greece where there were earthquakes decades ago. Not even a hint of a beach remains.
- blululu 5y agoProbably not within the municipal budget of Miami, but Florida has a lot of clout in National Politics dues to the electoral college. Florida is the second largest net recipient of Federal tax dollars (after VA (proximity to DC)). If the cost of hurricane mitigation is less than the cost damages to coastal real estate in Florida then it would still be a good move on balance.