The Coming Real Estate Crash
Posted: Sat 02 Nov 2019, 12:29:53
Its been obvious for years now that the coast is toast. Rising sea levels are first going to make many low lying areas unpleasant to live in and then will make them impossible to live in. A few real estate owners are already selling out of coastal real estate....for instance I sold a tiny cabin accessible only by a hiking trail on a beach in Washington state a few years ago, and I believe Ibon sold a portfolio of coastal real estate in the Miami Beach area earlier this year (pardon me if I got that wrong, ibon).
Rising sea levels are going to crash the value of coastal real estate across this country.
But the effect of climate change on the real estate is much bigger then that. We are going to see a giant real estate crash in many parts of this country due to climate change.
Just consider California. There are billions of dollars of real-estate....ranging from mobile homes to mega-mansions.....built on hillsides and forests all along the coast of California and up into the mountains that are mis-priced. People think these homes valuable.....and maybe they once were.....but now they are mis-priced. What is the value of a home where forest fires rip through the neighborhood every few years? What is the value of a home that can turn into a pile of ash and rubble at any time?
Climate change is going to crash the California housing market.
Or consider areas prone to flooding. Now that we are seeing hundred-year-size floods every few years or so in some areas, some houses are being flooded again and again and again, and the value of that house is much lower then it used to be.
Climate change is going to crash the housing market along many rivers in this country.
There is a real estate crash coming......and its going to be caused by climate change.
Lets look on Zillow and find out the value of this fine piece of real estate.......
Cheers!
Rising sea levels are going to crash the value of coastal real estate across this country.
But the effect of climate change on the real estate is much bigger then that. We are going to see a giant real estate crash in many parts of this country due to climate change.
Just consider California. There are billions of dollars of real-estate....ranging from mobile homes to mega-mansions.....built on hillsides and forests all along the coast of California and up into the mountains that are mis-priced. People think these homes valuable.....and maybe they once were.....but now they are mis-priced. What is the value of a home where forest fires rip through the neighborhood every few years? What is the value of a home that can turn into a pile of ash and rubble at any time?
Climate change is going to crash the California housing market.
Or consider areas prone to flooding. Now that we are seeing hundred-year-size floods every few years or so in some areas, some houses are being flooded again and again and again, and the value of that house is much lower then it used to be.
Climate change is going to crash the housing market along many rivers in this country.
There is a real estate crash coming......and its going to be caused by climate change.
Lets look on Zillow and find out the value of this fine piece of real estate.......
Cheers!