fbpx
See All News

Sea Level Rise Causes Texas Coastal Homeowners to Lose Millions in Potential Property Value

/

May 15, 2019

Sea level rise has cost Texas homeowners $76.4 million in potential property value, with Galveston hit the hardest.

Originally published by Houston Chronicle

First Street Foundation and Columbia University analysts examined about 3 million coastal properties in Texas. Using a combination of real estate transactions and tidal flooding exposure, they found that from 2005 to 2017, homes in Galveston lost $9.1 million in potential value, followed by Jamaica Beach (which lost $8.6. million) and the Bolivar Peninsula ($8.1 million). It’s not necessarily that these coastal homes decreased in value by these amounts, the authors say, but that they didn’t appreciate as much as similar homes not exposed to tidal flooding. Researchers factored in square footage, proximity to amenities and economic trends like the 2008 housing recession.

Continue reading here

Visit Sea Level Rise Causes Texas Coastal Homeowners to Lose Millions in Potential Property Value to learn more.
See All News