Global warming...

[tarheelbybirth]

Go back and look at the chart, read the Zillow analysis, and then come back and tell me that the bubble had equal effects on waterfront vs. non-waterfront properties.

Sheesh, what a maroon.

Once again - you DO realize that waterfront includes every single property on a waterfront when you say "waterfront". You can tell NOTHING about homes in high risk flood zones from your chart. Nada. Zilch. Zero. That data is buried. And if you REMOVED those high risk homes from your analysis, the other waterfront homes would be performing B-E-T-T-E-R.

For the last time...and TRY with all your might to pay attention...focus...high risk homes are below where they were a decade ago. ALL other homes...including waterfront homes NOT in high risk areas...INCLUDING waterfront homes that enjoy HIGH premiums...have recovered their value and exceeded their decade-ago prices. People are shying away from high risk homes...that's just a fact, no matter what you "think". At some point, those mortgages will go under...there's NO avoiding that. And it will happen loooong before the water is lapping at their front doors. And Florida is ground zero for that.

But you, of course, know better than all the companies that are now starting to price this future into their plans.

 

[The Tradition]

Once again - you DO realize that waterfront includes every single property on a waterfront when you say "waterfront". You can tell NOTHING about homes in high risk flood zones from your chart. Nada. Zilch. Zero. That data is buried. And if you REMOVED those high risk homes from your analysis, the other waterfront homes would be performing B-E-T-T-E-R.

For the last time...and TRY with all your might to pay attention...focus...high risk homes are below where they were a decade ago. ALL other homes...including waterfront homes NOT in high risk areas...INCLUDING waterfront homes that enjoy HIGH premiums...have recovered their value and exceeded their decade-ago prices. People are shying away from high risk homes...that's just a fact, no matter what you "think". At some point, those mortgages will go under...there's NO avoiding that. And it will happen loooong before the water is lapping at their front doors. And Florida is ground zero for that.

But you, of course, know better than all the companies that are now starting to price this future into their plans.

Arguing with you is like arguing with a merry-go-round. The same defeated arguments keep coming back around again.

 

[tarheelbybirth]

Arguing with you is like arguing with a merry-go-round. The same defeated arguments keep coming back around again.

It's the same argument because you haven't substantively addressed it in any way. Your beloved chart has absolutely no bearing on the issue. None at all. Yet you cling to it like it's means something. It's irrelevant. But keep propping it up and pointing...like I said - mildly amusing.

 

[Joes Place]

Arguing with you is like arguing with a merry-go-round. The same defeated arguments keep coming back around again.

He's right. "Waterfront" includes non-flood risk properties, and you cannot separate that subset out in order to support your conclusion.

 

[coloradonoles]

So... are Joe and Tarheel saying that beachfront properties that are in flood zones have not currently reached their decade old highs SPECIFICALLY because of Global Warming/Rising Sea Level fears???

 

[Joes Place]

So... are Joe and Tarheel saying that beachfront properties that are in flood zones have not currently reached their decade old highs SPECIFICALLY because of Global Warming/Rising Sea Level fears???

I haven't engaged in that debate; I've simply pointed out that the argument Trad is making cannot separate out his flood-prone from non-flood prone properties to support his point.

The argument that tarheel is making absolutely makes sense, and no one has provided any information or evidence which debunks it. There are many current localities in FL already dealing with routine flooding from sea level rise (flooding they did not deal with 10 or 20 years ago), and I'd be astounded to find those housing prices rising with the median in those areas; not many folks are lining up to purchase properties where they'll pay an extra $500/month in flood insurance, on top of their property tax bills and mortgage payments, along with the regular hassle of dealing with all the water damage.

 

[tarheelbybirth]

So... are Joe and Tarheel saying that beachfront properties that are in flood zones have not currently reached their decade old highs SPECIFICALLY because of Global Warming/Rising Sea Level fears???

It certainly must be a factor - likely a major (the major?) factor. These homes are selling at less than their pre-crisis price while other housing - including high-premium waterfront property not located in a high risk area - has fully recovered and exceeded that point. People ARE paying premiums for waterfront property but NOT in high risk flood areas.