Factoring the effects of climate change into real estate investments
from the Washington Post
For real estate owners and developers, being underwater has long been metaphoric shorthand for stressful times, when property debt exceeds property value, or expenses exceed income. But the term now has new meaning: Real estate property could actually be underwater because of future climate change.
Hardly a day goes by without yet another report, editorial commentary or prediction about climate change and its risks, evidenced convincingly by countless scientific studies. Observable, measurable evidence includes increasing ocean and land temperatures; weather patterns and weather-related events of abnormal frequency and intensity such as hurricanes, flooding and wildfires; changing biosphere patterns; accelerating glacial melting at the poles and extreme northern and southern latitudes; and rising sea level.
But you don’t need to be a scientist to understand that economic and physical climate change effects could adversely affect real estate. Risks exist at all geographic scales and places: along seacoasts; within watersheds; on hillsides; and in vulnerable urban, suburban and exurban areas. Individual buildings likewise are at risk, depending on their location and construction. READ MORE... https://www.washingtonpost.com/realestate/factoring-the-effects-of-climate-change-into-real-estate-investments/2019/03/07/aa60f186-3f7f-11e9-a0d3-1210e58a94cf_story.html?noredirect=on&utm_term=.1b1c8f348c43