Rising seas could swallow millions of U.S. acres within decades
- Thread starter cigaretteman
- Start date
Doubtful, but you better believe that "ocean rise due to climate change" is not covered under anyone's policy.
Obama and others are still going to want to live on the beach. They’ll eat the cost for the view.
Just ensure the government doesn’t bail them out for their decisions.
The money is good now and there certainly is a lot of money to be made in renting the properties out. Then, when the climate crash comes, they will have a tax write off but they will still have made tons of money on it.
I don’t care who it is, or from which side of the political aisle, I just want to help make sure my money is going to all the right places in order to ensure my kids’ kids’ kids’ kids’ kids’ kids’ kids’ grandparents’ grandparents’ great grandparents’ great great grandparents’ are around to complain about Joe Biden and Donald Trump and other such important stuff.
"Invest in my new condo development, where you can make some of your investment back and write off a catastrophic loss on your taxes" doesn't seem very lucrative but what do I know?
If these sea level rises are so inevitable the best you should be able to get in Miami or New Orleans is a 10 year note.
While my wife doesn't agree with me, my plan to live my last years in the northwoods of Minnesota sounds like a plan vs boom boom boomers retiring in Flawda and ZOOna
I suggest starting with John Kerry & Al Gore. Just donate directly to their jet fuel tab, that way you won't feel too
guilty.
Yeah, sorry - I heard Ted Danson decades ago, leading scientist, proclaim we'd see cities under water by now (no party affiliation needed).
So speaking of science, the water levels have risen over 400ft since the glaciers began melting. Now that we're nearing the end of the melting (scientifically, that's what happens to ice), and at the end as it is, the pace of the melting increases relative to what is left, the rise in the level is relatively low (except for those who live on the shoreline, I'm sure it seems a lot more.)
Hell, even DeathSantis gets it.
Governor Ron DeSantis Announces Dr. Julia Nesheiwat as Florida’s First Chief Resilience Officer
I don't know, why don't you ask the "science" lefties why they believe the human race can switch to wind and solar without a transition period or even before a workable technology exists? Or what about the kill a baby up until birth crowd? Those lefties appear to have mastered biology.
You forgot to mention CRT and the transgendered. Work on the algorithm, please.
And actually, they are. Hence the disconnect in prices for at-risk homes and longer selling times for those on the market as opposed to houses in less risky areas. The day is coming where those homes in at-risk areas won't sell at all. If your neighbors' houses are worthless, what is your house worth?
As for those risking huge amounts of money...they HAVE huge amounts of money. They can ignore the future far longer than the average person.
Do you expect either of Obama’s beach houses will be underwater before he dies?
If only I fished. Not a hunter or fisherman. Which, brings into question my desires. Call me stupid, But I love Duluth, North shore, and everything west of there.
There are places around SoCal and the Bay Area that will lose land but for the most part the CA coast is cliffs. That means more coastal erosion and some cliff-side homes will go in big storms, but nothing like FL and LA will face.
It sure is. Obama has at least two houses directly on the water, as does Al Gore, and all the rich "we're all gonna die" people that keep developing oceanside land and purchasing houses on the beach.
Obama's house is 10 feet above sea level. He should be ok for a while. But I'm sure he appreciates your concern.
Wait, are you saying that beachfront property is not selling? Or not being developed?
No...what has happened is that at-risk properties - which once sold faster or at the same pace as those not at-risk - are now taking longer and longer to sell and the gap is widening. Prices are seeing the same disconnect. Sellers of those at-risk properties are waiting longer and longer for offers and they are dropping prices to get those offers. That trend will continue until those at-risk properties will no longer sell at any price. That's billions of dollars of real estate that will become worthless and it's inevitable. The ocean won't stop rising any time soon.
Are they in at-risk areas? Since you seem so well informed.
You do understand it's not really that simple, right?
They're on the beach. You're saying coastal properties will be worthless 'someday', and I'm sure they will.
But they have present value to people today.
People want to enjoy beach houses while they're alive.
They won't give a shit if it isn't there in a decade or two, or ten.
You're looking at them as some kind of eternal investment, and in that light, I wouldn't argue they're terrible.
But I think it's a dumb way to look at a beach house.
People took out ridiculous mortgages in the '90's and early 2000's so they could "enjoy houses while they were alive". When you own a beach house that you paid $1M or more for for and now can't sell at any price what do you do about that pesky mortgage? There are hundreds of thousands of properties in FL alone that are in at-risk areas. Remember what people did in 2008/2009? Imagine that happening on a scale that will dwarf that crisis. Do you want to bail them out? Their choices are going to have an effect on the entire economy if it's not addressed real soon.
Do you think Obama is up at night worrying about his mortgages?
He pays them and enjoys his properties.
He probably doesn't do this, but many who own coastal properties like these rent them so someone else pays their mortgage. I know that describes a lot of the properties on St. George Island. Then there are the ones that are pure rental plays that cash in on folks who want a few days at the beach and will pay thousands to enjoy it, but don't want to take on a million dollar mortgage.
Tell the banks to do their due diligence, because there will be no bailout and the market will keep the beach houses in the hands of those who don't blink at the expense.
Housing has a what, 60 year anticipated lifetime? I'd expect with the corrosiveness of the beach to expect an even shorter lifespan for the structure.
The median age of a house in FL is 17 years.
Nope it’s too late. No matter how many Americans drive their Prius with their coexist bumper stickers and tiny shriveled manhood, it’s over for man kind
Maybe not over, but it's going to get really ugly in 50-100 years..... really, really ugly
Yeah...I'm totally talking out of my ass. To believe what you seem to believe, you'd have to deny sea-level rise. That would make you stupid. Are you stupid?
https://www.nber.org/papers/w27930
I asked before and received no response...maybe you can handle it. Do you have info indicating that the Obama residence is in an at-risk area?
And they will, sooner rather than later, remain in those hands because they will be unsellable. There's nothing remotely confusing about this. It's not even controversial. Sea levels are rising and that rise is accelerating. Homes in at-risk areas will be literally underwater on a regular basis. Those with the means to buy these properties are also far more capable of just walking away from a mortgage on a property that is no longer usable. Why do think rich people being willing and able to buy these properties now means there's no future problem? Serious question.
Financial institutions were issuing all kinds of idiotic mortgages in the 90's and early 2000's to people they KNEW were not likely able to pay them back. Do you think they got smarter? Had they not been bailed out then, the entire financial system was at risk. Even with the bailouts, millions of people who had absolutely NO exposure and no ties to lenders lost their jobs. How do you propose containing a financial meltdown when the numbers this time are far larger than they were in 2008?
