Buying in Miami with concerns over sea level

8 Replies

I moved to Miami a few years ago and absolutely love it here. With what I'm seeing in the new construction projects here, I am very bullish on Miami right now and what it could become. My first instinct was to invest heavily in the market down here. I hesitated and missed the big boom, but don't want to continue to miss out, as the prices are still skyrocketing. My main concern that has been keeping me back has been on rising sea levels and how long Miami is actually going to be around for. 

What are other's thoughts on this? Is Miami a good place to invest for income as well as buying a personal residence to live in longterm? I'm looking mainly on the beach and city. We're already seeing a lot of flooding as it is, I know nobody has a crystal ball, but when would Miami start getting to the point of not being habitable anymore? Are with talking fairly soon within 10 years, 20 years, or 50+? And what would happen in that case, would owners just be sitting on worthless property? How can I become more educated on this too? Thanks!

I read today that at the current rate of the Antartic ice melting, the seas will rise at least 1 millimeter per year. Be very afraid, in a couple of centuries, Miami will be under water.  

Miami have transformed a lot in past few years. I suppose the prices will continue to climb up, yet the growing current and planned inventory (25000 plus condo units will pour into market in next two years) will slow down the growth and maybe its for the better in the long run. The rising sea levels are more of the threat in Miami Beach locations, from what I heard, but I'm sure it controllable. Be aware tho, the good deals are hard to find, as so many people are chasing the properties to invest in. 

Good luck. 

The whole city has been built on a swamp.  They've done OK so far...

Buy inland. When the ocean rises, soon you will have prime waterfront you can sell for a few billion dollars:)

John Thedford, Real Estate Agent in FL (#BK3098153)

My understanding is that Miami is built on pervious ground, so rising sea levels would slowly sink the mainlands too eventually. I'm just trying to get an idea of whether this is a near term occurrence, or something I don't have to worry about for 20+ years. 

@Ray S.  

in all seriousness, rising seas should not have any effect for long past our lifetimes. Now, for the ones with a future eye for appreciation and passing on VERY LONG TERM generational wealth: the Gulf of Mexico has sediment being deposited over time. Once this gets to a certain level, a geographical event called an orogeny should occur. What this means is: today the gulf of mexico is tomorrow's mountain range. This is why you can find oceanic fossilized forms of previous life in mountain ranges such as the Rocky Mountains. So, for those with VERY long term outlooks...but anything along the gulf coast. In a few billion years your heirs may own prime skiing areas. Just a thought::))

John Thedford, Real Estate Agent in FL (#BK3098153)
Originally posted by @John Thedford :

@Ray Slater 

in all seriousness, rising seas should not have any effect for long past our lifetimes. Now, for the ones with a future eye for appreciation and passing on VERY LONG TERM generational wealth: the Gulf of Mexico has sediment being deposited over time. Once this gets to a certain level, a geographical event called an orogeny should occur. What this means is: today the gulf of mexico is tomorrow's mountain range. This is why you can find oceanic fossilized forms of previous life in mountain ranges such as the Rocky Mountains. So, for those with VERY long term outlooks...but anything along the gulf coast. In a few billion years your heirs may own prime skiing areas. Just a thought::))

 I'm not saying NYC is going to be completely under water in our lifetime, but in the next decade or two, places like South Florida could be under inches of water consistently and the shoreline could be nearly wiped out. If that's the case I'd imagine the real estate market  here would completly crash and there would be no protection for owners. I know they are putting in pumps on the beach to mitigate the flooding, but there's only so much they can do to delay this. I'm wondering if it's wise to sink too much money in down here or not. 

I don't think you would have to worry about it in our liftetimes, if anything you can just flip it ;))

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you