>If banks believed there was a serious risk of sea levels rising they would put a discount instead of a premium on waterfront property Banks aren't the ones se

>If banks believed there was a serious risk of sea levels rising they would put a discount instead of a premium on waterfront property Banks aren't the ones setting prices on properties. And no one should base anything on the actions of banks because financial institutions generally know to basically sell off the risk as soon as possible (although that can come back to bite them as it did with the subprime thing, where they sold it off, but then many of them made bets on those risks). Their window of exposure is generally extremely small, and they'll keep dancing as long as the music keeps playing. Further markets are irrational, and always have been. Even if you are absolutely certain that Miami is going to be devastated by climate change, for instance, you might still buy an overpriced oceanfront mansion because you know that you'll be able to find either a sucker or someone with the same assessment when the time comes.