Florida Sees Signals of a Climate-Driven Housing Crisis
Florida Sees Signals of a Climate-Driven Housing Crisis Home sales in areas most vulnerable to sea-level rise began falling around 2013, researchers found. Now, prices are following a similar downward path. In places like Bal Harbour, Fla., climate worries have reduced demand for high-risk coastal real estate, researchers say. In places like Bal Harbour, Fla., climate worries have reduced demand for high-risk coastal real estate, researchers say. Credit...Rose Marie Cromwell for The New York Times Christopher Flavelle By Christopher Flavelle Oct. 12, 2020, 6:00 a.m. ET + If rising seas cause America’s coastal housing market to dive — or, as many economists warn, when — the beginning might look a little like what’s happening in the tiny town of Bal Harbour, a glittering community on the northernmost tip of Miami Beach. With single-family homes selling for an average of $3.6 million, Bal Harbour epitomizes high-end Florida waterfront property. But around 2013, something started to...