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hatrack

(59,584 posts)
Fri Feb 10, 2017, 08:58 AM Feb 2017

Study: Houses Bought Today In NYC, DC, Delaware Could Flood 3x/Week Before Mortgages End

The lawns of homes purchased this year in vast swaths of coastal America could regularly be underwater before the mortgage has even been paid off, with new research showing high tide flooding could become nearly incessant in places within 30 years. Such floods could occur several times a week on average by 2045 along the mid-Atlantic coastline, where seas have been rising faster than nearly anywhere else, and where lands are sagging under the weight of geological changes.

Washington and Annapolis, Md. could see more than 120 high tide floods every year by 2045, or one flood every three days, according to the study, published last week in the journal PLOS ONE. That’s up from once-a-month flooding in mid-Atlantic regions now, which blocks roads and damages homes. “The flooding would generally cluster around the new and full moons,” said Erika Spanger-Siegfried, a Union of Concerned Scientists analysts who helped produce the new study. “Many tide cycles in a row would bring flooding, this would peter out, and would then be followed by a string of tides without flooding.”

he analysis echoed findings from previous studies, though it stood out in part because of its focus on impacts that are expected within a generation — instead of, say, by the end of the century. It showed high tide floods along southeastern shorelines are expected to strike nearly as often as they will in the mid-Atlantic, portending a fast-looming crisis for more than 1,000 miles of coastal America.

Seas have recently been rising worldwide by an average of about an inch a decade, a rate of change that’s accelerating as global warming expands oceans and causes ice to melt. The East Coast endured sea level rise at more than twice the global rate from 2002 to 2014.



EDIT



http://www.climatecentral.org/news/coastal-cities-flood-three-times-a-week-2045-21153

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Study: Houses Bought Today In NYC, DC, Delaware Could Flood 3x/Week Before Mortgages End (Original Post) hatrack Feb 2017 OP
How can banks write 30 year mortgages greymattermom Feb 2017 #1
Maintain the illusion, at any cost . . . hatrack Feb 2017 #2
My son just bought a condo in Myrtle Beach mountain grammy Feb 2017 #3

greymattermom

(5,754 posts)
1. How can banks write 30 year mortgages
Fri Feb 10, 2017, 09:10 AM
Feb 2017

when they know this? Won't the value of those properties decrease as the land becomes worthless? Will the home owners have to pay the cost of raising the houses? In some coastal areas all new construction has to be 12 feet above sea level.

mountain grammy

(26,619 posts)
3. My son just bought a condo in Myrtle Beach
Fri Feb 10, 2017, 11:07 AM
Feb 2017

They looked at one a quarter mile from the beach.. chose one a half mile away for a lot less money. Smart kids!

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