Rising Sea Levels Wipeout $14.1 Billion In Property Value

Real Estate Survival Guide with Terry Story

Rising Sea Levels Wallop Property Prices

Where once beachfront property was considered prime real estate, rising sea levels are changing things dramatically. Homes in eight U.S. states have lost $14.1 billion in market value due to rising sea levels, rising river levels, floods, etc.

Florida leads the pack in almost every category. The other states include Georgia, North Carolina, South Carolina, Virginia; and in the tristate area of New Jersey, New York, and Connecticut, pricey homes lost $7 billion in value. Homes in Ocean City, New Jersey lost $530 million versus $337 million lost in the Miami Beach area.

Steve adds that insurance premiums should go up for homes in high-risk areas. (1010)