How Climate Change will affect Miami Real Estate

Question

Good afternoon all and a (pre) Happy New Year!

I have found myself more and more interested in climate change recently and would like to gather the thoughts and opinions of some of my neighboring real estate investors on how you all think climate change will affect the RE market in Miami. Sea levels rise here between 3-4 mm each year, and the majority of areas like Miami Beach and other coastal properties are expected to be either underwater or near it by 2050.

I have one condo, but it is more inland near on Coral Way and 35th ave. But if I want to invest into future homes for myself and my family, how would you approach this? I presume this is why so many people are buying more up north for higher ground (North Carolina, Tennessee, etc.)

Thanks!

Greg Grant · Answer

I've been in South Florida since the early 1980's and from what they were saying back then, we should already be under water by now.

Jessica Brantley · Answer

One of the odd things about Dade county is that a lot of our inland areas are at a lower sea level than on the cost. There's an ancient coral ridge that runs along the cost thru the gables, the grove and miami proper. Areas further west like Kendall were the everglades not that many years ago. That's why there's often a danger of flooding during hurricanes in those areas. It's not intuitive, but it's true. SFWMD (south florida water management district), NOAA and maybe RSMAS used to have detailed maps and projections. I would image that the general public could access them if you just ask, but it will probably take a bit of calling around to get it. It's an important question and I honestly don't know how long it would take to to make a noticeable impact.

John Thedford · Answer

Buy inland lots and when the water rises to where all your properties are beach front sell them for millions:)

Rita Medeiros · Answer

@Jessica Brantley Come to our women’s monthly meeting July 31st ft Lauderdale listed on events page.

John Thedford · Answer

Smart investors buy inland lots. When the water level rises to where they are ocean front you can then sell for millions!

Frank Boet · Answer

Climate change is real. The climate is cold in the winter and hot in the summer. I have lived in Miami since 1969 and there's no way anyone can measure any major change in the sea level. Key Biscayne and Miami Beach are still there and Key Biscayne would definitely be under water by now since it is a little bitty piece of dirt called an island. Climate goes through cycles. Right now it is extremely cold in most of the U.S. South Florida is the envy of most of the country. It's always so convenient for "experts" to predict what's going to happen decades into the future when most people are dead or too old to remember the prediction. Don't let the hoax (no disrespect to you. When I was young I fell for that stuff, including the recycling lie) of "climate change" effect your investing. That property on Coral Way and 34th Ave is a great area.

How Climate Change will affect Miami Real Estate

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