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The oceanfront properties will only become worthless when the land directly beneath them is submerged because the people who own those properties can enjoy them
by MisterBastahrd 3y ago
The oceanfront properties will only become worthless when the land directly beneath them is submerged because the people who own those properties can enjoy them just fine with or without insurance coverage.
- mschuster91 3y agoYeah they can enjoy these properties even if they do not have insurance any more... but then they want for government to bail them out on the next storm/flood/fire/whatever, and that just won't scale much longer.
- RecycledEle 3y ago> The oceanfront properties will only become worthless when the land directly beneath them is submerged because the people who own those properties can enjoy them just fine with or without insurance coverage. Part of the value of real estate is the short term use of that real estate. Part of the value is the resale value. If anthropogenic climate change is really causing sea levels to rise, then the predicted future resale value of oceanfront property must be near zero, which must be causing prices to drop sharply. Except the prices are not dropping. Markets predict reality better than most predictors.