Wealth

Within three decades more than 386,000 homes in coastal areas of the U.S. will be at risk of permanent submersion or regular flooding due to climate change, according to a recent study by real estate website Zillow and nonprofit weather news site Climate Central.

About 40 percent of the American population may be affected to some degree. Those residences are collectively worth nearly $210 billion in 2018 dollars, according to Zillow; in the top 10 cities likely affected, losses could total more than $34 billion. Things look even more grim further out in time: By 2100 some 2.5 million homes nationwide, worth about $1.3 trillion altogether, could be at risk if the scientific data and resulting computer models are correct.

Here are the 10 cities predicted to be worst affected by 2050, along with the amount of local housing affected by flooding and its value.

Source: Zillow.com

Products You May Like

Articles You May Like

In a search for fixed income, advisors look beyond mainstream bond funds
Fed holds rates steady; here’s what that means for your wallet
Steel stock investors beware: Price-crushing ‘Steelmaggedon’ is coming, says BofA
RBC raises S&P 500 target, sees 18% gain for 2019 as economy gets ‘back on track’
Apple is keeping partners in the dark about how it plans to package and price its video service

Leave a Reply

Your email address will not be published. Required fields are marked *