Climate Change Takes Bite Out of Coastal Properties

Some politicians and talk show hosts may think climate change is contrived but realtors across New England will tell you a different story.

Data scientists from First Street Foundation and Columbia University have expanded their peer-reviewed housing market research to include 2.5 million coastal properties in New England and found that increased tidal flooding caused by sea level rise has wiped out $403 million in relative home values between 2005 and 2017. Hardest hit were coastal properties in Massachusetts, losing more than $273 million in relative appreciation.

 Homeowners can learn how much relative value their personal property missed out on over the 12-year study period as well as how much value it is projected to lose over the next 15 years at Flood IQ dot com.

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