Florida Underwater??

17 Replies

Hey everyone,

I live in Florida and would love to start investing here soon, but I'm concerned about the not-so-far in the future rising water level that will likely leave us underwater.  Anyone else know about this who invests in Florida?  See this article for more info, and I was able to confirm what they are saying in multiple sources: http://thinkprogress.org/climate/2013/06/23/219903...

Sounds like it could happen in South Florida within 50 years.  And long term investing is my plan.

Thoughts?

Yikes!  I was looking for a place in FL as well for long term investment purposes.

Matter of fact, this listing just popped up in my search and I thought, wow, what a deal, right on the water with many houses across the street going for double, etc...

Then I looked further, it seems every single property in the area has sold within the last two years, and the rest are on the market now.  I wonder if they were all under water not long ago?  I can't understand what the heck is going on here:

4318 Rudder Way, New Port Richey, FL 34652

Johnny 

Yeah, not sure.  It sounds like South Florida would go first, and that is more North, but also right on the water so it's hard to say.  I'm seriously reconsidering investing here now, at least for long term.  Might have to look out of state!

We will have gone through 1-2 full real estate cycles by then

I thought the words "climate change" are illegal in Florida?

Thanks for the input @Kurt Kwart  So you're saying probably safe to invest and sell before everyone realizes what's happening?  More medium-term?

And yes, apparently saying global warming is like saying you're a Nazi supporter.  Didn't know that until I read the article!  I am not a real Floridian, so I can talk about reality (not to offend any true Floridians!)  Not that I blame them, it is a like an extended vacation down here ;)  

Originally posted by @Johnny Kula :

Yikes!  I was looking for a place in FL as well for long term investment purposes.

Matter of fact, this listing just popped up in my search and I thought, wow, what a deal, right on the water with many houses across the street going for double, etc...

Then I looked further, it seems every single property in the area has sold within the last two years, and the rest are on the market now.  I wonder if they were all under water not long ago?  I can't understand what the heck is going on here:

4318 Rudder Way, New Port Richey, FL 34652

Johnny 

 I think you're onto something here.  I tend to think most homes in my area were also underwater at some point within the last decade.  More of that nastiness to come?

As long as you make money when you buy!!  but be patient....

Here in Jersey my street floods on an "extreme" high tide.  It used to happen about 10 times a year when I moved to this street in 2004.  Now it happens about 30 times a year.   No one is going anywhere at this point but times can change fast

remember Florida is an aquifer. Its rock over pockets of water surrounded by water; look at a map, FL looks like swiss cheese with lakes and gators. 

The only real thing you should worry about is areas that require flood insurance. Currently the government is subsidizes flood insurance, so if they stop you better have several exit plans for that contingency.   

I thought the global warming myth was debunked long ago...  Didn't Al Gore crawl under a rock somewhere to never reappear and face his inconvenient scam he has made billions off of?!?

The Naval War College has a great evening lecture series that they upload to YouTube for anyone to watch.  While many still dismiss the issue of sea level rise, the military is actually taking it seriously, and this lecture was for future military leaders currently attending their Masters program, so you'd think even skeptics would agree it should carry some weight.  From what Dr. Jackson says, it could take a few decades, or just the next big storm for Florida to become a problem.   He also discusses the sinkhole zones and economic issues.        

   https://www.youtube.com/watch?v=TAtCQ7REXAc

@Meghan Helbick  It's a legitimate concern for me and I am looking at holding for 10yrs.  Even if demand doesn't diminish, the insurance costs will absolutely go up hurting profits.  People are still willing to live in New Orleans for some reason so I'm guessing people will be scuba golfing in FL at some point!  But New Orleans is good to watch, they'll be affected by a sea level rise before we are.

Study your Fema maps, especially where you are since there is a lot of low lying land around lakes and consider a shorter holding period if things develop the way we all hope they don't.  

California has been sliding into the sea ever since i was little and you can see what effect that has had   None

@Steven Picker

 Actually, appears the pacific coast is rising, so mostly earthquakes and drought to worry about out there.  I can't even get earthquake insurance on our house in WA as they want $15K per year with a $50K deductible.    

There is almost no place safe to buy a house natural disasters  of floods ,twisters, hurricanes etc are throughout the country 

@Michael Olesky .. You said it.. Study your FEMA maps if your coming to Florida. My residence is 24' above sea level and I pay flood insurance.. Besides that they are constantly refining the maps so if your near a flood zone inland today, expect to be in it soon.

note too, if you're not a resident expect a higher premium then what maybe listing.  Make sure and get an accurate quote..

@Meghan Helbick

By then the scientist will have changed their minds.  Check out this Time Magazine cover from 1977.  I'm sure they said this was "settled science" and if you didn't believe them you were an idiot...   The depreciation schedule on residential only lasts 27.5 years so you wouldn't want to hold a property longer than that anyway.

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