MIDDLETOWN, R.I. (AP) - New research indicates Rhode Island’s coastal real estate market is already feeling the effects of climate change.
According to a joint study by Columbia University and the First Street Foundation, home values in Rhode Island lost $44.7 million in appreciation between 2005 and 2017. The Providence Journal reports the study estimates losses caused by rising seas could equal $15 billion across 14 coastal U.S. states.
According to the National Climate Assessment’s 2018 update, as much as $106 billion worth of real estate could be below sea level by 2050.
The Rhode Island Coastal Resources Management Council has adopted projections by the National Oceanic and Atmospheric Administration to plan for up to 11.5 feet of sea-level rise by the end of the century.
Please read our comment policy before commenting.