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Real estate values in Miami are not showing the impacts of rising seas–yet

The Guardian had an interesting story this week about real estate values in Miami FL and other places that are already experiencing impacts of rising seas and more devastating tropical storms. Surprisingly, business in building new condos and commercial buildings is booming, even though the streets are flooding more frequently and recent hurricanes have caused big losses for some coastal residents. But the story indicates that those hot property values may soon turn cold as people become more aware of the losses they could experience by living close to the coast. Already, some higher neighborhoods in Miami are becoming more desirable, which has the potential to force out long-time residents in favor of richer landowners. Some farmers are also choosing to purchase land farther from the coast. You can read the story here.

Miami Beach skyline. Source: Ethically Yours, Commons Wikimedia