Norfolk sea level rise takes shine off waterfront homes

[unhappycamper]

http://hamptonroads.com/2014/09/norfolk-sea-level-rise-takes-shine-waterfront-homes

Norfolk sea level rise takes shine off waterfront homes
By Aaron Applegate
The Virginian-Pilot
© September 28, 2014

NORFOLK

Soon after Mary-Carson and Josh Stiff got married last year, they began talking about buying a house.

Josh, 30, wanted to live in Norfolk to be near his law office. Mary-Carson, 28, wasn't so sure. Sea level rise and the chronic flooding that plagues the city worried her.

~snip~

The newlyweds forged a compromise. They would search for a home in Norfolk to be near Josh's office. But it could not be in a flood plain, susceptible to rising seas, storm surge and escalating flood insurance prices.

Their decision is one glimpse into the changing dynamics of coastal real estate. A growing awareness of sea level rise and flooding, coupled with rising flood insurance premiums as the federal government phases out subsidies, has the potential to reshape segments of the Hampton Roads market.

[underpants]

1. "there will be a downward pressure on prices"

[Uben]

2. I would never buy in a flood plain

I don't even live close to a large body of water, but I do live at a small lake....on a hill! Flooding is not something I want to ever worry about. It destroys almost everything, just like a fire or tornado. So why do people buy these places that they know that will flood someday or have already flooded before? Makes no sense to me to gamble with what is probably your biggest purchase. I would never live close to a volcano no matter how "beautiful" the scenery is. I wouldn't live in California where the Santa Anna winds whip wildfires and destroy homes yearly. I guess that's a lot of "would nots", but these places are "when", not "if".

Everyone makes their own choices, and mine are no better than yours. Tragedy can strike anywhere, anytime.
So far, I have avoided floods, tornadoes, and fires. It's just luck. My best friend lost his home to a flood. He had no flood insurance and lost everything. It was one of those "50 yr floods", and at 55, the outlook for his future is grim. I let him live in a house I used to rent out and he just pays the taxes and insurance costs. I intend to gift it to him when he can save enough to pay the fees for the transfer.

[pleinair]

3. that is generous and kind of you

He is lucky to have you as a friend

[Uben]

4. We've been friends since childhood.....

.....it's what you do...when you can. I've been fortunate in my 60 years.