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re: Why is it still possible to get real estate financing in Miami?
Posted on 12/21/19 at 9:12 pm to Cosmo
Posted on 12/21/19 at 9:12 pm to Cosmo
quote:
Why did Obama buy a 10 million dollar house in the Hamptons 5 feet above sea level?
It was $11.75 Million and according to Google Earth, the house is built 9 ft above mean sea level.
41°21'38.21"N, 70°32'47.80"W
ETA: but I gave an upvote anyway because it was a very good point.
This post was edited on 12/21/19 at 9:13 pm
0
Posted on 12/21/19 at 9:21 pm to tigerpawl
Posted on 12/21/19 at 9:38 pm to Ramblin Wreck
Bankers are climate deniers
Posted on 12/21/19 at 10:49 pm to Sweltering Chill
quote:
thinking that each place is the type of environment where i’d slip on my boat shoes, drive in in a Jeep Grand Wagoneer with a couple of Golden Retrievers and feel right at home... Guess not.
That’s a good description of Nantucket.
Nantucket is nicer. The community consists largely of old and established Massachusetts families. There’s a substantial class difference between Nantucket and the Vineyard.
It’s been a long time, but there are two yacht clubs on Nantucket. The second was started by people who were rejected by the first one.
The members of the old club continue to look down on the new club. And that will never change.
This post was edited on 12/22/19 at 10:28 am
Posted on 12/22/19 at 12:19 am to Ramblin Wreck
Earn interest on the loans until the floods, then collect the insurance and move on.
Developers would also do the same for their returns, so it’s not just the lenders.
Developers would also do the same for their returns, so it’s not just the lenders.
Posted on 12/22/19 at 12:38 am to Ramblin Wreck
Just a few corrections.
1.) We've been on this planet ~4.5 billion years, the 13-15 figure he was likely referencing was the best guess age of the Universe, at least in its current state of expansion post Big Bang.
2.) Most guesses I see place sea level rises between 10-30 inches by 2100, so about 20 inches in 80 years.
3.) I don't know about South America and England, but most of the south wouldn't be gone if the waters rose 10 feet. I live south of Baton Rouge and my property is 18 feet above sea level. Sure, it'd make it uncomfortably close, but few parts of the south would be "gone". Condos for sure, but that's assuming a 10 foot rise. Again estimates place it at around 20 inches in 80 years.
1.) We've been on this planet ~4.5 billion years, the 13-15 figure he was likely referencing was the best guess age of the Universe, at least in its current state of expansion post Big Bang.
2.) Most guesses I see place sea level rises between 10-30 inches by 2100, so about 20 inches in 80 years.
3.) I don't know about South America and England, but most of the south wouldn't be gone if the waters rose 10 feet. I live south of Baton Rouge and my property is 18 feet above sea level. Sure, it'd make it uncomfortably close, but few parts of the south would be "gone". Condos for sure, but that's assuming a 10 foot rise. Again estimates place it at around 20 inches in 80 years.
Posted on 12/22/19 at 1:03 am to Lima Whiskey
quote:
Nantucket is nicer.
Plus, it has its own limerick about a man from there. Got that going for it.
Posted on 12/22/19 at 7:03 am to Ramblin Wreck
You know, I keep offering people who have these 5 million dollar waterfront homes ten cents on the dollar, and they keep turning me down. My plan was to tear them down and get investors to build a bunch of superyacht marinas and wait for the global warming tide to come in a decade or so from now. After all, even these lots will be unbuildable at that point.
Nobody seems to want to take me up on this supposedly inevitable vision of the future.
Maybe I just need to hire Greta Thunberg and put her in charge of marketing this vision.
Nobody seems to want to take me up on this supposedly inevitable vision of the future.
Maybe I just need to hire Greta Thunberg and put her in charge of marketing this vision.
This post was edited on 12/22/19 at 7:06 am
Posted on 12/22/19 at 9:12 am to Azkiger
quote:
Most guesses I see place sea level rises between 10-30 inches by 2100, so about 20 inches in 80 years.
And over the next 50 years people will be able to get 30 year mortgages on properties that are ocean front today. Bankers and insurance companies are definitely climate change deniers. They must know something the sky screamers don’t.
Posted on 12/22/19 at 9:35 am to Ramblin Wreck
Because it isn't going underwater and it isn't already underwater like ManBearPig predicted to have already occurred
Posted on 12/22/19 at 10:56 am to Ramblin Wreck
Because Miami is actually above sea level and thanks to the underwater geography of the coastline storm surge is not a big threat. Plus everything that is remotely new there is built a couple of feet above street level. I lived there during Irma, my apartment was less than two blocks from the sea wall on biscayne bay, and my ex-girlfriends apartment building is right next to the Miami river and BIscayne bay. The storm surge didn’t even get two feet up the wheelchair ramp at her building and it didn’t even come close to topping the sea wall and flooding my apartment.
Miami suffers from the same problem that NOLA does. Heavy rain that floods the streets because the sewer system is overwhelmed. Unlike NOLA, Miami is actually installing miles and miles of new drainage pipes and building NEW pump stations.
Miami suffers from the same problem that NOLA does. Heavy rain that floods the streets because the sewer system is overwhelmed. Unlike NOLA, Miami is actually installing miles and miles of new drainage pipes and building NEW pump stations.
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