Sea levels are rising. Tides are inching higher. High-tide floods are becoming more frequent and reaching farther inland. And hundreds of US coastal communities will soon face chronic, disruptive flooding that directly affects people's homes, lives, and properties.
Yet property values in most coastal real estate markets do not currently reflect this risk. And most homeowners, communities, and investors are not aware of the financial losses they may soon face.
This analysis looks at what's at risk for US coastal real estate from sea level rise—and the challenges and choices we face now and in the decades to come.
IMAGE: Note: Average seasonal cycle removed from monthly mean sea level Source: National Oceanic and Atmospheric Administration | Graphic: Jan Diehm/The Guardian
theguardian.com - March 20th 2017 - Oliver Milman
The Irish Pub near Atlantic City’s famed boardwalk doesn’t have any locks on the doors as it is open 24 hours a day. So when Hurricane Sandy crunched into what was once known as the Las Vegas of the east coast in 2012, some improvisation was needed.
Regular drinkers helped slot a cork board through the frame of the door, wedging it shut and keeping out the surging seawater.
When you fill a sink, the water rises at the same rate to the same height in every corner. That's not the way it works with our rising seas.
According to the 23-year record of satellite data from NASA and its partners, the sea level is rising a few millimeters a year -- a fraction of an inch. If you live on the U.S. East Coast, though, your sea level is rising two or three times faster than average. If you live in Scandinavia, it's falling. Residents of China's Yellow River delta are swamped by sea level rise of more than nine inches (25 centimeters) a year.
These regional differences in sea level change will become even more apparent in the future, as ice sheets melt. For instance, when the Amundsen Sea sector of the West Antarctic Ice Sheet is totally gone, the average global sea level will rise four feet. But the East Coast of the United States will see an additional 14 to 15 inches above that average.
huffingtonpost.com - by Dr. James Hansen - July 27, 2015
. . . 2°C global warming, rather than being a safe "guardrail," is highly dangerous. . . .
. . . My conclusion, based on the total information available, is that continued high emissions would result in multi-meter sea level rise this century and lock in continued ice sheet disintegration such that building cities or rebuilding cities on coast lines would become foolish. . . .
. . . A startling conclusion of our paper is that effects of freshwater release onto the Southern Ocean and North Atlantic are already underway and 1-2 decades sooner in the real world than in the model (Fig. 2).
reuters.com - By Ryan McNeill, Deborah J. Nelson and Duff Wilson - September 4, 2014
As the seas rise, a slow-motion disaster gnaws at America’s shores
Part 1: A Reuters analysis finds that flooding is increasing along much of the nation’s coastline, forcing many communities into costly, controversial struggles with a relentless foe.
elitedaily.com - by Christian La Du - October 28, 2013
One year ago, the east coast was ravaged by SuperStorm Sandy, a freak occurrence combining a hurricane, Nor’easter, high tide, and a full moon, which wrought particular destruction on the tri-state area.
Although the enduring legacy of Sandy is not measured in tallies of destruction, numbers like 8.6 million homes and businesses without power, gas and water, 650,000 destroyed houses, 200,000 damaged businesses, and 286 deaths afflicted over 13 states. Approximately 50 million people felt the effects of the storm over 800 mile stretch, and an estimated $65 billion in economic damages were incurred.
The real, lasting effect of Hurricane Sandy, however, is in the radical life shifts that people forcibly underwent.
A man walks through flooded streets in Hoboken, New Jersey, after Superstorm Sandy | Emile Wamsteker/Bloomberg via Getty Images
As subsidized rates of federal flood insurance rise, property owners along the coasts get angry. But we need insurance that reflects the risks of a changing planet
time.com - by Bryan Walsh - October 1, 2013
Thousands of homeowners in flood-prone parts of the country are going to be in for a rude awakening. On Oct. 1, new changes to the National Flood Insurance Program (NFIP), which offers government-subsidized policies for households and businesses threatened by floods, mean that businesses in flood zones and homes that have been severely or repeatedly flooded will start going up 25% a year until rates reach levels that would reflect the actual risk from flooding. (Higher rates for second or vacation homes went into effect at the start of 2013.) That means that property owners in flood-prone areas who might have once been paying around $500 a year—rates that were well below what the market would charge, given the threat from flooding—will go up by thousands of dollars over the next decade.
Glacial Rebound: The Not So Solid Earth
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