Foreign Investors Shrug Off Miami’s Rising Sea Levels – npr
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Article Synopsis – The looming threat of sea level rise and frequent flooding hasn’t deterred foreign investors from buying up Miami real estate, though they are only short-term investors with plans to sell before the market turns. The real estate site Zillow estimates that “by the end of the century, nearly half a million Miami homes could be submerged”. According to the Miami Herald‘s Nicholas Nehamas, “Foreign investors think they’re going to sell before climate change affects the price of their units. t’s a case of the segment of the market most driving the market being divorced from reality.” To read the actual article click here.