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climate change

Performance Property Real Estate Question

How Climate Change Will Affect Real Estate

Q: Gerald, how will climate change affect real estate? Evan, Toms River, NJ A: Climate experts predict that 2% of US homes are at risk of being underwater by 2100 and in low-lying coastal areas in places like Florida & Hawaii, over 10% of homes could be inundated by water. The fact is that rising water levels, heat waves, droughts and wildfires will for sure increase the cost to insure property and local government building ordinances and re-building guidelines will affect where and how property will be built in at risk areas like in coastal areas. In New Orleans for example, after hurricane Katrina, homes have been rebuilt at higher elevations, with storm shutters, stormproof windows and draining systems. Real […]

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Performance Property Real Estate Question

Do Rising Sea Levels Make Buying Coastal Property Too Dangerous?

Q: Gerald, We’ve been watching the devastating Hurricane Harvey aftermath.  Do rising sea levels make buying coastal property too dangerous? Ellen, Sea Girt, NJ. A: That’s a great question, Ellen. As economic losses in Texas and beyond continue to rise, some experts estimate that the losses may exceed $100 Billion dollars from this cataclysmic hurricane. You know, 100 years ago, most people preferred to live away from the water. In recent decades, as evidenced by property values, beach front property has become more desirable and more expensive. But, rising sea levels should change the way people think about waterfront property. At the end of the day, the desirability and the price of real estate boils down to supply and demand. […]

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