Florida’s housing market in an era of increasingly destructive climate disasters

Are home prices in some areas being driven down by people fleeing the parts of the Sunshine State most prone to flooding and high insurance costs? 

Or are developers snatching up storm-ravaged land to build new — and more expensive — homes in those same places? 

Or are people moving just in from the shore, displacing those on higher ground and making housing there less affordable?

The answer to all these questions is yes.

Finally, everybody needs to accept that part of this process will inevitably involve giving up the dream of a single-family mansion on the beach or in a lovely wildfire zone. Climate change is increasingly turning such dreams into nightmares.

“We don’t let people build on crumbling cliffs or active volcanoes. Why do we let them build in other risky places?” Siders asked.

 “The debate is over the right level of risk. But right now we’re not even willing to engage in that debate.”

Mark Gongloff Bloomberg 17 October 2024 

https://www.bloomberg.com/opinion/articles/2024-10-17/florida-is-now-schrodinger-s-housing-market

 

Tillbaka till Wall Street och Stockholm 19-20 oktober 2024

https://englundmacro.blogspot.com/2024/10/wall-street-och-stockholm-19-20-oktober.html