Monday, October 12, 2020

Florida Home Sales and Sea Level Rise

From today's NY Times, here are two graphs on the impact of sea level rise -- or rather, the worry about it -- on home sales and prices in Florida:

I'm not as convinced on the prices chart -- why did they lead from 2013-2017? Is it only since 2017 that Floridians have become more aware of the impact of sea-level rise there? Maybe.

These kind of financial impacts -- plus increases in insurance costs, or the inabilityvto get insurance at all -- will probably be the only thing to get people to take sea level rise completely seriously. Including governments. Once seaside towns start losing homes -- and property taxes -- partially or completely, they're going to demand their state and federal goverenments do something. What, I don't know.

1 comment:

William M. Connolley said...

> What, I don't know.

They're going to demand that other people bail them out. See all the federal flood-insurance stuff.

I think prices are more convincing than volumes, and you're right that the price chart, though it is doing the "right thing" now, wasn't before; so over-interpreting it would be a mistake.