Miami, Houston Overwhelmed By Water
The myth is that the Atlantic and Gulf will take several decades to rise enough to flood parts of Miami and the areas south of Houston. A new study by The Washington Post shows that this is not true. Since 2010, the water levels of the two bodies of water have risen enough to six inches to the tide in Miami and 8.4 inches near Houston.
Worst Hurricanes? –North Carolina
Overvalued Home Markets –Miami And Tampa
Jianjun Yin, a climate scientist at the University of Arizona, told the Post, “It’s irreversible.”
Several problems are related to rising seas. The first is the effects of hurricanes. The NOAA forecasts that this year’s hurricane season may be the worst on record. Rising temperatures in the Atlantic will make them stronger, and higher water temperatures off of Florida will still make them worse.
Another problem is insurance rates. Some people in Florida cannot get insurance at all. They need to state programs. In some cases, the rates are so high they have to move.
Florida Home Prices Fall
The migration caused by high insurance rates has already started to drive down the prices of Florida condos on the Atlantic. It is not an exaggeration to say values could collapse in some areas. This also leaves residents to find homes elsewhere while the rate on a 30-year fixed-rate mortgage is 7%.
The rising sea levels have a domino effect, and that line of dominos is getting longer.
