Saturday, November 09, 2013

Florida game of real estate musical chairs: good until sea levels surge … by gimleteye

Today, Climate Central launched its Surging Seas Risk Finder for the state of Florida at the 5th Annual Southeast Florida Regional Climate Leadership Summit. It is a timely release, with the most expensive Florida real estate going through a mini-boom.

The public web tool was developed in order to provide local regions and policy makers with tailored local information that can be used to assess and respond to the risks of sea level rise and coastal flooding.

The fact that underlines the economy: what will happen to flood insurance rates? Apparently, especially at the high end of the markets, few are concerned so long as the real estate musical chair game goes on.

According to the Risk Finder web tool analysis, in Florida:
2,120 sq. miles of land lie less than 3 feet above the high tide line in Florida.

$156 billion in property value and 300,000 homes sit on land less than 3 feet above the high tide line in Florida.

966 EPA-listed sites such as hazardous waste dumps and sewage plants lie on land 3 feet above the high tide line.
The web tool utilizes high-accuracy lidar elevation data from NOAA and provides ability to assess exposure of over 100 infrastructure, populations, and property variables from 1-10 feet above the high tide line provides ability to tabulate vulnerability by state, county, city, town, zip code, and congressional districts provides projections of sea level rise and flood risk by decade.

Climate Central will launch the web tool for all U.S. coastal states on a state-by-state basis, with remaining states scheduled for 2014.

Access the web tool: Look at the socioeconomy view for the web tool that for a tile for Property Value. Click on this tile to see the source of data:

Climate Central uses a blockgroup level dataset (based mainly on appraised parcel values 2008-9), using simple exposure analysis, showing how much value at different elevations. It is the same coastal value dataset as used by the EPA. Also in the Florida report, there is a section on people and property at risk, and methodology is described in appendix.


Anonymous said...

As I watched the typhoon damage in the Philippines, I couldn't help but think that but for the grace of God, there goes us. People are not paying attention. This was the worse on record 190 mille winds. Even with little hurricane Sandy, land was swallowed up by the ocean and did not come back. In one blink of the eye Miami Beach and it's environs could be under water. Why put more condos in the area and more people and property at risk?

Donald Chump said...

I Agree. But think of All the money you can make if you can guess where the waterfront will be in 20 years, Westchester, Hialeah, Kendall etc...

100panthers said...

Is Florida going to be a Mormon State in 2100? Newly purchased land 2% of state is high ground above risk from sea level rise with deep water port and I-10, close to Tallahassee. When the South Florida exodus occurs and 'nest eggs' of paid off homes are worthless in South Florida, what a recruiting tool-free lot for church members.

Is this where the people from South Florida will be moving in 50 years?

Interactive map of sea level rise by location shows little flooding in these counties despite higher seas.

The land purchased by the Mormon Church comprises around 2 Percent of the state of Florida clocking in at an astounding 400,000 acres in the state's panhandle region. The purchase extends into parts of Bay, Calhoun, Franklin, Gadsden, Gulf, Jefferson, Leon, Liberty, and Wakulla counties, according to RT. Before this purchase, the Mormon Church already owned a massive cattle ranch in Central Florida, straddling three counties and south east of Orlando.

Read more at:

Anonymous said...

The land is beautiful, the people are mostly White and poor, lots of homeless Whites begging for food around grocery stores, and in shopping areas- very conservative voters who depend on South Florida for tax revenue. They have no understanding of economic development or how to improve themselves or their communities. Perhaps the church can help, give them some kind of vision for the future, a look at the possibilities, as they have no sense of what to do to help each other. They hate others who are different from them and continually vote to hurt and bring more pain to themselves. Strange communities.