![]() “No one’s thinking about climate change as a reason to or not to buy on the Jersey Shore,” Kenneth Nilson, who has worked in real estate in New Jersey for more than 30 years, told BuzzFeed News. Yet most homebuyers are not asking questions about climate change and sea level rise, according to interviews with 11 realtors in some of the cities and towns facing the biggest risks. Many of the most affected locations are in major metropolitan areas on the coast, such as New York City, Miami Beach, and the Bay Area, where real estate prices are quite high. ![]() You can check whether a certain location is at risk using the map above.Īlthough climate change may seem a distant threat, this study looked at conditions relevant to current homebuyers, given the lifecycle of a standard 30-year fixed mortgage. ![]() That’s the conclusion of a new study published Tuesday from Climate Central, a scientific organization that tracks climate impacts, and the real estate marketplace Zillow. And if no steps are taken to curb carbon emissions, the number of at-risk homes jumps to about 385,000. Even if the world more aggressively tackles global warming, about 350,000 homes across the US, worth about $190 billion at today’s prices, are built on land that’s at risk of annual flooding by 2050 - which is about when a new 30-year mortgage on one of those properties would be paid off.
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