Climate Change Hits Property Prices
(2 min read)
One of the clearest effects of climate change is sea level rise (SLR). The scientific community expects a global average SLR of around 3-6 ft. over the next century. This could affect over 6 million American homes and put one trillion dollars of coastal US real estate at risk. A new paper, Disaster on the Horizon: The Price Effect of Sea Level Rise, by Asaf Bernstein, Matthew Gustafon, and Ryan Lewis finds that exposed properties are starting to sell at a discount...
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