Ordinary homeowners are beginning to factor climate change into the home-buying decisions in Miami.
"Concerns over rising sea levels and floods are beginning to reshape one of the country’s largest housing markets, with properties closer to sea level now trading at discounts to those at higher elevations," reports Laura Kusisto and Arian Campo-Flores.
The article is sharing news of a new study published in the Environmental Research Letters journal and authored by Jesse Keenan, a real-estate professor at the Harvard University Graduate School of Design.
The study "shows that single-family homes in Miami-Dade County are rising in value more slowly near sea level than at higher elevations, as buyers weigh the possibilities of more-frequent minor flooding in the short term and the challenge of reselling properties that decades from now could be permanently submerged."
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