"Sea level rise has cost Texas homeowners $76.4
million in potential property value, with Galveston hit the hardest, a
new study released Tuesday found.
First
Street Foundation and Columbia University analysts examined about 3
million coastal properties in Texas. Using a combination of real estate
transactions and tidal flooding exposure, they found that from 2005 to
2017, homes in Galveston lost $9.1 million in potential value, followed
by Jamaica Beach (which lost $8.6. million) and the Bolivar Peninsula
($8.1 million). It’s not necessarily that these coastal homes decreased
in value by these amounts, the authors say, but that they didn’t
appreciate as much as similar homes not exposed to tidal flooding.
Researchers factored in square footage, proximity to amenities and
economic trends like the 2008 housing recession."
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