If you ’re moot purchasing a abode in the near future tense , a new depth psychology suggests you may require to consider the issue and costs of future climate change prediction on where this household may be .
A newstudyby Climate Central and Zillow suggests 350,000 US homes deserving an count on $ 190 billion currently lodge in on state that is at hazard of yearly flooding by 2050 – and that ’s if strategies to mitigate future emissions are put into place . If left unbridled , climate variety will impact more than 386,000 homes .
The findings are relevant to those who may be considering purchasing a new home – 2050 is just a standard 30 - year fixed mortgage away , after all . And if you ’re look at buy in major city like New York , Miami , and the San Francisco Bay Area , then you may be disproportionately affected .
The state - wide depth psychology looked at the intersect of region that are prone to flooding from rising seas and storm billow in comparison with Zillow ’s residential propertydata , count the number and types of homes along with their current value . A “ risk - zone ” was defined as a home at or below ocean storey where yearly continuing implosion therapy is require to hap .
This map suggest the former “ average emissions ” projection where greenhouse gasses peak around 2040 and reject sharply thereafter . As the authors note , local factors can affect a home ’s risk horizontal surface , including the local universe , the economy , as well as space useable for future development .
Even in the face of worsening natural disasters , many coastal communities are seeing a surge in construction in at - risk zones equate with safe expanse . For example , the state of New Jersey has seen its housing growth rate addition more than three times that of coastal flood risk areas to the melodic phrase of 2,700 fresh homes at an estimated $ 2.6 billion come one of the state ’s costliest superstorms , Hurricane Sandy . Similar course are come in nine other states , with more than half of the land ’s coastal areas seeing higher rate in flood - jeopardy surface area .
Astudyearlier this year found like consequence . With emissions left unrestrained , the Union of Concerned Scientists estimates an average ocean level rise of 0.6 meters ( 2 feet ) by 2045 , with the trend being expedite at the end of the century putting 2.4 million homes worth about $ 1 trillion at peril .
[ H / T : Buzzfeed News ]
