Climate change regentrification

[Richard]

The word of the day brought to you by the smart ones at Harvard.

The study is showing real estate values being driven by people moving to safer ground.

In Miami properties on higher ground are increasing in value faster then those closer to the waterways.

California properties that are not in a supposed fire zone are increasing in value.

But with coastal insurance rates jumping from $500 a year to $5000 a year I think the insurance companies will be the driving force as to where one lives.

Considering Detroit is low risk comparatively from natural disasters it may become the safe place to move to.

[Zacha341]

Imagine that! The D has some natural advantages after all. Jokes aside - yeah it's got to be daunting to move to Florida now. I have a friend that picked up and move there only to return. The cost of living was just too much ala home owners insurance sky-rocketing!

[Johnnny5]

But with coastal insurance rates jumping from $500 a year to $5000 a year I think the insurance companies will be the driving force as to where one lives.

A move to Detroit to save $4000 on home insurance rates would be great if it didn't add $5000 to your auto insurance rates.

[Zacha341]

^^^ Yes, that factor does seem to emerge, doesn't it?