S.F. Real Estate's Hit From Global Warming? $77B
Global warming could drown $77B worth of property in San Francisco, according to a new forecast.
Much of the waterfront that’s drawn investment over the past decade will be underwater, according to a team led by Risk Management Solutions chief strategy officer Paul VanderMarck. The team has modeled the impact of a sustained sea level rise on S.F., reports the San Francisco Business Times.
San Francisco is drafting an action plan to cope with a 5.5-foot water level increase. VanderMarck expects the city will adopt a cost-effective mixed strategy of building higher sea walls in some areas while surrendering other areas.