Sunday, 15 March 2009

California Sinking?

Pacific Institute, the environmental research institution, has issued THE IMPACTS OF SEA-LEVEL RISE ON THE CALIFORNIA COAST.

Brief summary of 100+ page report is:

- By the end of this century, due to global warming, water level will go up by 5 ft.

- This is cause $100 billion in damage to California.

- Below damage analysis by the county,

County Potential Cost ($Billion) People Affected
San Mateo 26.0 120,000
Orange 17.0 110,000
Alameda 15.0 66,000
Marin 8.7 39,000
Santa Clara 7.8 31,000
San Francisco 5.1 10,000
Los Angeles 3.8 13,000

Well, I live in Marina neighborhood in San Francisco, a few blocks to SF bay and have been attracted ocean front real estate (who wouldn't?), this is very important topic. Luckily, in Marina neighborhood, while Marina Blvd might be damaged, my house seems to be ok!

The other key finding for me was that the most damaging area is existing low-laying flood zone such as:

- Low-laying area along San Francisco Bay (from SF to Santa Clara to Richmond.

- Low-laying area in San Rafael in Marin county.

‐ Wetland from Novato in Marin county to Vallejo in Fairfield county.

- Low-laying area in Huntington Beach in Orange county.

‐ Venice and Marina Del Rey in Los Angeles county.

One of the key attraction of living in California is proximity to ocean. Ocean front real estate will continuously be highly sought after (at least while we are alive!). I think the most important take away from this research is vulnerability of existing low-laying area and its surrounding. So check out this map from Pacific Institute and make sure that your property is on solid land.

Happy Investing!!!!!

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