Very inexperienced trader
- 13 August 2019
- Reaction score
As an interesting (possibly) aside, I did a desktop study a few years ago on what impact a 1 metre sea level rise would have on the area of the southern NSW coast around Tuross Lake (I was interested in buying into the area). It is not (yet) an area where there are many multi-storey buildings at all. While only a handful of properties would suffer permanent inundation, many more would have been critically affected by storm surge. The big issue however was infrastructure. Access roads would be cut at several points, leaving the whole settlement as a "stranded asset". I doubt the area would generate enough in rates and taxes to cover the cost of substantial new roads and bridges - which would be true of many areas directly affected by even a modest sea-level rise.Rising sea levels and 20 story beach side apartments. A match made in purgatory and then hell.
The collapse of the Champlain Towers condo in Florida a few weeks ago has focused attention on the immediate reality of rising sea levels. The move is on and once fashionable condos are being deserted and the new investment focus is surprise, surprise, buying up inland properties that are currently poor, cheap and have 10 feet more elevation than coast side condos.
I'm not sure how orderly this movement will be and how the old condos will actually be sold or insurable in a few years
Excellent in depth story.
As sea level rise creeps higher in Miami, prime beach real estate is losing its cachet, pushing developers to snap up properties further inland. For residents in those historically marginalised communities, displacement is imminent.www.abc.net.au
A similar exercise is possible with maps already supplied by the planners for Brisbane using the past few major levels as a guide. Many street in many low-lying suburbs would be toast (soggy toast, anyway).