“South Florida By the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
The facts can no longer be denied: sea levels are rising, and South Florida is becoming more vulnerable to flooding with each passing year. With a population that continues to grow by roughly 8 percent each year, expanded commercial and residential real estate and the annual threat of hurricanes, the challenges facing our region are significant.
A recent report from the Risky Business Project, which quantifies the nation’s economic risks from climate change, estimates that losses of existing property in Florida will likely range between $5.6 billion and $14.8 billion by 2030, to between $14.8 billion and $23.3 billion by 2050. The good news? South Florida’s business and political leaders are finally facing the problem head-on, and taking steps to make their projects and communities more resilient. Let’s review these proactive local efforts to combat rising seas levels in this month’s South Florida by the numbers.