The latest research paper adds to a growing body of work suggesting significant impacts on Florida's real estate market due to climate change, with rising sea levels expected to cause more frequent flooding. This could lead to decreased property values, higher insurance costs, and more difficulty in obtaining mortgages. The housing market is currently characterized as seriously deranged, with homeowners unaware of their true financial status. The housing shortage is also more critical than previously understood, as detailed in 'The Housing Shortage Is Larger Than You Think: Part 2'. South Florida's real estate is set to be transformed by climate change, with the Miami Herald's lead climate change reporter providing insights. Economic discourse over the past 25 years has highlighted a discrepancy between the existing housing supply and the population's wealth. Middle-class households are increasingly being priced out of the housing market due to high mortgage rates and spiking prices, which poses challenges to wealth building.
Middle-class households are being priced out of the housing market amid high mortgage rates and spiking prices, making it increasingly difficult for them to build wealth, per Newsweek.
"One way I would describe a lot of economic discourse over the past 25 years is “We have the housing supply of a population that is poorer than we are, so we need to make ourselves poorer to match our housing.”" @KAErdmann https://t.co/ejSTqL5yYc
🌊Climate change is set to transform South Florida real estate. @MiamiHerald lead climate change reporter @harrisalexc has details on what those changes would look like based on the latest research. Read her story below. https://t.co/rWI7u0lDNt
If you think there was a glut of homes in 2008 and there is a shortage of homes now, I have bad news for you about the size of the shortage. The Housing Shortage Is Larger Than You Think: Part 2, by @KAErdmann https://t.co/Ii5pgnU9nX
“Most current homeowners are both richer and poorer than they understand,” @asymmetricinfo writes. “The result is a seriously deranged housing market.” https://t.co/4hrExPqVrl
“The paper is the latest in a growing body of research that says Florida’s real estate market is in for big impacts as rising sea levels make #flooding more common, driving down property values, making #insurance pricier and mortgages harder to get.” 👇🏼 https://t.co/EGZzB2fCLZ