Coastal Erosion
Driven by a rising sea level, large storms, flooding, and powerful ocean waves, erosion wears away the beaches and bluffs along the 10,000 miles of U.S. ocean and Great Lake shorelines. Erosion undermines waterfront houses, offices, and public facilities, eventually rendering them uninhabitable or unusable. Within the next 60 years, erosion could destroy approximately 85,000 houses--not including new development. By moving the shoreline inland, erosion also brings nearby structures ever closer to the water, often putting them …
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…closer to the water and views and access improve. The study found a strong relationship between house price and the number of years until the nearest shore is likely to reach the house (determined by dividing the distance from the shore by the erosion rate). Houses close to a rapidly eroding shore are worth 10-20 percent less than otherwise identical houses close to relatively stable shorelines. These sales prices reflect the increased risk of damage. [18]
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