Josh Stein Comments On The Effect Of Climate Change Fears On The Miami Luxury Real Estate Market
May 23, 2022 at 16:25
Miami luxury realtor Josh Stein was recently interviewed by BBC World where he explained how the long-term fears of climate change are not significantly affecting the real estate market in Miami right now. Readers can check out the full story by heading over to Josh’s website at the link: https://www.joshsteinrealtor.com/in-the-news/miami-real-estate-boom-continues-despite-climate-change/.
South Florida island city Miami Beach is one of the coastal cities in the country that will be first in line to bear the brunt of rising sea levels spurned on by the specter of climate change. Miami Beach is at risk of severe flooding as a water level rise of just 2 feet will force 10% of South Florida to go underwater. By 2070, scientists estimate that the water will rise to 4.5 feet and displace a third of Miami Dade County’s population, or around 800,000 people. Despite the myopic view of the viability of buying beachfront properties in Miami, the real estate market has not shown any signs of slowing down. Instead, it is healthier and going stronger than ever. Miami is still at the top of the list for high-income individuals who want to purchase property due to the region’s warm weather, alluring beaches, and Florida’s low taxes. Some property builders have incorporated elevated foundations in their construction to make the purchase more enticing for buyers who are concerned about rising water levels. Some projects are also planting mangroves around their periphery since they act as a natural barrier during storms and floods.
In the story from BBC World, Josh Stein commented on the effect of the fear surrounding climate change on the Miami real estate market by saying, “I would say that the real estate market right now is booming. It's probably the craziest real estate market we've ever had in the history of Miami. People do talk about climate change. It is a real concern for those planning on buying property in the city, especially if they are looking for waterfront properties or condos. However, the conversation surrounding climate change is focused on the long term and it is not impacting people’s decision to buy their ideal property right now. Miami offers something that most cities just don’t have and everybody wants to be a part of it right now, even with the threat of climate change.”
When asked about potential solutions that can be implemented to combat the effect of climate change, Josh Stein says, “It seems more likely than ever that the impending climate change disaster, which some have been dismissing as a hoax for years, will arrive at our doorstep within the next few decades. The city of Miami Beach should make battling it a top priority if they want this thriving and vibrant community to last. The Sustainability Plan that the City of Miami Beach launched, all the way back in 2010, didn’t do enough to address the problem of rising sea levels. The measures that it proposed were temporary short-term fixes rather than sustainable long-term solutions. I do believe leadership decisions that are driven by sound science are our best hope at building infrastructure that can alleviate the problem of properties becoming flooded and residents getting displaced. The local government must step up and assume responsibility to ensure that these beautiful sandy beaches and gorgeous waterfront homes can survive the inevitable wrath of mother nature that will soon be upon us.”
Josh Stein has been helping buyers find their dream home in Miami for over two decades. Over the years, his work has been featured in publications such as The Miami Herald, The New York Times, The Telegraph of London, and more. Josh specializes in the sales of luxury condos, waterfront homes, Miami lofts, and historic art deco properties from South Beach up to Bal Harbor and Sunny Isles Beach.
Readers interested in purchasing property in Miami can contact Josh at the phone number (305) 695-8257 or follow him on his Facebook page at https://www.facebook.com/Joshsteinrealtor to stay updated with news and announcements from the realtor.
For more information about Josh Stein Realtor, contact the company here:
Josh Stein Realtor
1688 Meridian Ave Suite 700,
Miami Beach, FL 33139