Source: University of Hawai’i News —
Sea-level rise and major weather events caused by climate change are expected to increasingly threaten coastal real estate properties around the world, including in Hawaiʻi. There is, however, growing evidence that U.S. homebuyers are taking the real estate impacts of climate change more seriously, according to a new University of Hawaiʻi Economic Research Organization (UHERO) blog authored by Justin Tyndall, UHERO assistant professor and assistant professor of economics.
Tyndall used a complete data set of repeated home sales from Long Island, New York to estimate the lower price appreciation caused by the threat of sea-level rise. Between 2000 and 2017, Tyndall found properties that were between 0–2 meters from the current sea level had annual appreciation that was 1.3 percentage points less than the overall market.
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