Buy a house in Fredericksburg Texas today and in 80 years you may have oceanfront property 🙂
When you hear the phrase “homes underwater” in the real estate industry usually think of homes that owe more on the loan than the house is worth. But Zillow just finished a study that there will be approximately 1.9 million homes under water, literally by the end of the century! Of course a lot of this based upon predictions of rising oceans due to climate change but it’s a very interesting read nonetheless.
Texas is predicted to lose 46,804 homes along the coastlines. Nationwide, almost 1.9 million homes (or roughly 2 percent of all U.S. homes) – worth a combined $882 billion – are at risk of being underwater by 2100. And in some states, the fraction of properties at risk of being underwater is alarmingly high. More than 1 in 8 properties in Florida are in an area expected to be underwater if sea levels rise by six feet, representing more than $400 billion dollars in current housing value. In Hawaii, almost 1 in 10 homes are at risk.
What’s the moral to the story?
Buy a house in Fredericksburg Texas today and in 80 years you may have oceanfront property 🙂
here’s a link to the complete story if you’re interested: http://www.zillow.com/research/climate-change-underwater-homes-12890/
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