Alex Harris, Miami Herald, January 16, 2020
Increasing sea rise is going to water down the value of some of the most coveted and expensive real estate in Florida, and insurance rates will go up too.
That’s the conclusion of a pair of new reports calculating just how much of an impact climate change will have on Florida’s real estate industry.
A report from international consulting giant McKinsey released Thursday found that Florida homes subject to the risk of flooding could lose 5 to 15 percent of their value in the next decade, barring any significant changes to the market in that time. By 2050, that could leap up to 15 to 35 percent. Read More