Rising Seas Could Wipe Out $1 Trillion Worth of U.S. Homes and Businesses – Grist
Credit: Stan Grossfeld / The Boston Globe via Getty Images.
Article Synopsis – By the end of the century, 2.4 million homes and businesses worth more than $1 trillion are at risk of “chronic inundation”, which is defined as 26 flood events per year- “enough to make normal routines impossible and render the properties essentially worthless”. And, unlike previous housing market crashes, these properties are not likely to recover. “While Miami Beach is the community most at risk, New Jersey has been identified as the state with the most to lose, with over $10 billion at risk”. To read the actual article click here.