Sea Level Rise Gets Real (Estate)

Sea Level Rise Gets Real (Estate)

Organizer: 
Erika Spanger-Siegfried
Union of Concerned Scientists
Time Slot: 
Concurrent Sessions 5
Session Type: 
Symposium
Abstract: 

As sea levels rise, a ballooning number of U.S. homes will experience frequent, disruptive flooding that makes everyday life impossible, drives down property values, and strains coastal real estate markets – some to the point of collapse, with potential reverberations throughout the national economy. New research by UCS finds more than 300,000 of today’s coastal homes face this chronic flooding within the lifetime of a 30-year mortgage.

Individual homeowners, banks, lenders, investors, developers, insurers, and taxpayers are poised to sustain large losses. Shrinking property tax bases could spell decline for many coastal cities and towns. We need to head off this challenge where we can, even as we brace our communities, and our local and national economies for impact, making wise use of the limited time we have. But how?

While there are no easy solutions, knowing our risk and using that knowledge to create bold new policies and market incentives will help protect coastal communities. Our speakers will explore leading-edge challenges ranging from how flood risk can be better disclosed in the marketplace; how we must reform flood insurance rates and flood mapping to better reflect the risk of rising seas; how development that puts people and property at risk can be brought to heel; how buyouts do, don’t, and could (if done better) help; and how policies can be reformed to serve coastal communities with greatest need, not greatest clout.

Presentations

Perspectives on rising seas, coastal floods, and stemming the threat to US coastal real estate"
Rachel Cleetus, Union of Concerned Scientists
Perspectives on rising seas, coastal floods, and stemming the threat to US coastal real estate"
Joyce Coffee, Climate Resilience Consulting
"Perspectives on rising seas, coastal floods, and stemming the threat to US coastal real estate"
Jack Davis, RE Tech Advisors
"Perspectives on rising seas, coastal floods, and stemming the threat to US coastal real estate"
Robert Moore, Natural Resources Defense Council