Rising Seas Soaked Home Owners For 16 Billion Over 12 Years
Sea-level rise has cost homeowners on the East and Gulf coasts nearly $16 billion in property value as floods and the threat of flooding drive some buyers away, according to a study released this week. Analysts at the nonprofit First Street Foundation in Brooklyn studied millions of residential home sales in 17 states from Maine to Alabama and found that coastal property values were rising at a slower rate in flood-prone areas than in areas that did not flood....