The Tampa Bay Times reports: Your Florida coastal home could lose 15% of its value by 2030 due to sea rise
Increasing sea rise is going to water down the value of some of the most coveted and expensive real estate in Florida, and insurance rates will go up too.
That’s the conclusion of a pair of new reports calculating just how much of an impact climate change will have on Florida’s real estate industry.
A report from international consulting giant McKinsey released Thursday found that Florida homes subject to the risk of flooding could lose 5 to 15 percent of their value in the next decade, barring any significant changes to the market in that time. By 2050, that could leap to 15 to 35 percent.
In another Miami-Dade-focused report from Jupiter Intelligence, researchers found that moderate flooding of about a foot will affect nearly double the number of homes by 2050.