StreetEasy: Talk - climate change and real estate

Beautiful beachfront houses that are un-insurable and un-saleable?

Here is an interesting article about rising sea levels on the Virginia shoreline.

If you go down aways in the story you will see that insurers will no longer write policies on houses in Norfolk that they would previously insure, and owners cannot sell the houses.

Scientists are saying that sea level rise is going to happen unevenly -- more quickly on the Atlantic coast than elsewhere.

But the effects of climate change on NYC are more likely to be seen in extreme weather, aren't they? When Rita came through last year, there was a fear the the subway system would flood.

That storm blew past NYC, but we're getting more frequent hurricanes with only a .8 degree temperature rise in place right now.

What if the temperature rise goes up to 2 degrees -- the best possible outcome, and probably unachieveable at this point -- but for argument's sake, what if the temperature rise doubles from the current .8 degrees? Won't we see lots more Ritas? Won't one of them flood the subway system?

How long will it take to get the subways running again after they've been submerged? A month? What does that do to the local economy?

What does it do to the value of our real estate?

http://wwwp.dailyclimate.org/tdc-newsroom/2012/08/norfolk-sea-level-rise

Source: http://streeteasy.com/nyc/talk/discussion/32266-climate-change-and-real-estate

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