Over 300000 USA coastal homes at risk of flooding by 2045

Rodiano Bonacci
Giugno 19, 2018

According to a Monday report by the Union of Concerned Scientists, almost 40 percent of the states property tax base is expected to be "highly exposed" to such flooding within the next 30 years.

The 28-page report from the Union of Concerned Scientists said more than 300,000 homes in vulnerable areas could see flooding if temperatures rise too much.

"Once market risk perceptions catch up with reality, the potential drop in Floridas coastal property values could have reverberations throughout the economy — affecting banks, insurers, investors, and developers — potentially triggering regional housing market crises", the report said.

According to the report's co-author, Rachel Cleetus, many coastal communities will face declining property values in the years ahead. A new report projects that Florida is at the greatest risk of any state for tidal flooding caused by rising sea levels. Using three sea level rise scenarios developed by the National Oceanic and Atmospheric Administration and localized for this analysis, UCS determined how many residential and commercial properties along the entire lower 48 coastline are at risk of becoming chronically inundated from high tides.

The report says properties at risk by 2045 contribute $1.5 billion to local tax bases today.

The study suggests if the United States were to adopt the Paris Agreement, an worldwide plan to limit the effects of climate change, about 87 percent of North Carolina's at-risk homes could avoid chronic flooding by the end of the century. By 2100, that increases to 37,500 properties valued at $46 billion.

By 2045, almost $4 billion worth of residential property is at risk of chronic flooding, now worth about $28.5 billion. More than a million homes in Florida alone are at risk.

Further, the damage could be irreparable.

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