I think the next 10-20 years will be an era of local real estate highs and lows.
Long before actual submersion, the effects of rising seas will affect property in the forms of more frequent storms, flooding, and the effects on groundwater like in the Florida condo collapse. Inland, many parts of the world will start having water scarcity, or fire risk.
Instead of an all-over rising real estate market, I think prices in places like Florida, parts of Texas, Louisiana, etc. will crater due to uninsurability. The places that are still standing undamaged in 15 years' time will be incredibly expensive.
The only tricky part is knowing where those places will be exactly. The areas that were "sure things" just a few years ago, such as the Pacific Northwest and Vermont, have been shown to be not nearly so certain. Lytton, Canada spontaneously combusted, while VT has had many damaging storms and floods. So it's a guessing game at this point.
One could make the argument that renting is the best gambit, because that's the only way you won't get stuck with a climate change "lemon."
Long before actual submersion, the effects of rising seas will affect property in the forms of more frequent storms, flooding, and the effects on groundwater like in the Florida condo collapse. Inland, many parts of the world will start having water scarcity, or fire risk.
Instead of an all-over rising real estate market, I think prices in places like Florida, parts of Texas, Louisiana, etc. will crater due to uninsurability. The places that are still standing undamaged in 15 years' time will be incredibly expensive.
The only tricky part is knowing where those places will be exactly. The areas that were "sure things" just a few years ago, such as the Pacific Northwest and Vermont, have been shown to be not nearly so certain. Lytton, Canada spontaneously combusted, while VT has had many damaging storms and floods. So it's a guessing game at this point.
One could make the argument that renting is the best gambit, because that's the only way you won't get stuck with a climate change "lemon."