July 26, 2018

Coastal flooding has reduced value of southern homes by billions


As reported by The Charlotte Observer, researchers used data on sea level rise from National Oceanic and Atmospheric Administration, U.S. Geological Survey, local governments, the National Weather Service and the U.S. Army Corps of Engineers, and then correlated it with data from local governments on property values. They then used their findings to launch Flood IQ—an interactive tool which allows you to search individual communities and addresses across the Southeast United States (Florida, Georgia, South Carolina, North Carolina and Virginia) and find out how much coastal flooded has impacted property prices, and how much it is projected to do so through 2033. Across the entire region, the team found a whopping $7.4 billion in losses already incurred since 2005,

No comments: