
Mass. Home Falling Into Ocean Could Kill Town’s Economy
We've all seen those videos of ocean side homes on stilts falling into the water during big storms and it's horrible when people lose their property.
Currently, there's a mansion in Wellfleet, MA and it's not quite yet in the ocean, but it's falling off a cliff. Climate change causing rising seas and moving sand is the reason for the danger.
There is concern that Wellfleet's oyster economy will be damaged if this home were to fall in.
Officials in Wellfleet worry the home's collapse will damage delicate beds in their harbor where farmers grow oysters that are among New England's most prized. A report commissioned by the town projects if nothing is done, the 5,100-square-foot home will tumble into the bay within three years — and possibly much sooner. -usnews.com
The toxicity of the home's insulation and more, if it were to fall into the bay, could massively disrupt oyster cycles.
“The house has a lot of fiberglass insulation in it. It has toxic material in it," Cumbler said. “If that toxic material gets into Wellfleet Harbor, which is where the currents will take it, it could endanger the oyster industry in Wellfleet, our major industry outside of tourism.”
Climate Change affecting home values in other cities as well
Homes across the country are dropping in value due to the effects of climate change. A shift of more than a trillion and a half dollars in real estate value over the next 30 years is likely according to a new study.
Where?
California, Texas, and Florida.
The three biggest Sun Belt states — California, Florida and Texas — have taken on more than 40% of the country's $2.8 billion in natural disaster costs since 1980. The data projects that some counties in California, Florida and Texas will experience net declines of 10% to 40% in their property values by 2055. -cbsnews.com
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