sadoeconomist:

shieldfoss:

shieldfoss:

RE: “If Global Warming is Real, Why Are People Still Living On The Coast?“

An acquaintance has a house in the highlands of north-eastern Thailand and they’re seeing land prices grow substantially as people from the low-lying coastal floodplains near Bangkok seek up into the higher interior.

@sadoeconomist hey check this thing I just found out while surfing for a new home – the largest private real estate exchange in Denmark has added a function that’ll show you whether the neighborhood you’re buying in will be covered by water if oceans rise by X distance – here’s Copenhagen with a six foot increase in ocean levels.

I mean, I’m no climatologist but the thesis statement that climate change probably isn’t real because the market isn’t pricing it in is starting to be kind of undermined.

Ah, my thesis statement in that post was more that my alarmist neighbors in particular weren’t acting like global warming was real, and my eventual conclusion was that this was because of the US government’s market-distorting subsidized flood insurance encouraging people to buy property in areas threatened by climate change.

These examples are in other countries where they presumably aren’t spending billions of dollars to pay people to build homes in areas that are predicted to be underwater in the near future.

The other thing that further research suggested was that the effect size of the threat of rising sea levels on prices was actually currently quite small, which does suggest there’s still a lot of doubt out there, particularly among real estate investors and financial institutions who’d have a lot to gain by dumping wet properties for dry ones as early as possible if they were convinced that sea levels were definitely going to rise. Although perhaps that market is distorted as well, and we’d be seeing much more of a flight to higher altitudes if not for the GSEs mindlessly amassing trillions of dollars of potentially-literally-underwater mortgages.

If the worst fears of the alarmists are true, the US government is putting an absolutely enormous amount of resources into making sure that we are going to be harmed as much as possible by climate change

These examples are in other countries where they presumably aren’t spending billions of dollars to pay people to build homes in areas that are predicted to be underwater in the near future.

God I wish I could get subsidies for that, but I’m glad my neighbors cannot, so I guess it evens out.

If the worst fears of the alarmists are true, the US government is putting an absolutely enormous amount of resources into making sure that we are going to be harmed as much as possible by climate change

Honestly that sounds completely likely to me. It’s not like it’s their money that’ll be taxed to fix this later.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s