Climate change disrupting housing markets, insurance industry

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Massachusetts News

Housing,Climate Change,Climate Change Effects

Sea-level rise is accelerating and 40% of the U.S. population lives in a coastal county.

A home in Cisco, Mass., in March that was designated to be demolished after erosion made it impossible to be saved. Photo: Suzanne Kreiter/The Boston Globe via Getty Images

Only "a couple of waterfront areas" are experiencing extreme erosion on Nantucket and property values "values are going up across the island," said Shelly Lockwood, a Nantucket-based real estate broker, who helped develop a coastal resilienceto have 1.15Ft as soon as 2040, 2.36ft as soon as 2060, 4.36ft as soon as 2080 and 6.

"With more heat, comes more severe storms and accelerating sea-level rise, both of which lead to increased storm surge and coastal erosion," Hill added.

 

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