Luxury homes on these beaches are losing value fast, as effects of climate change hit hard

PUBLISHED FRI, JUN 14 202412:50 PM EDTUPDATED FRI, JUN 14 20243:42 PM EDT

By: Diana Olick

WATCH NOWVIDEO04:30Climate change causes home values to fall off a cliff

As sea levels rise and storms intensify, coastal real estate is seeing flooding and erosion like never before. From Dana Point, California, to Long Island, New York, and Nantucket, Massachusetts, some of the nation’s priciest coastal real estate is in an increasingly precarious position due to climate change.

This year’s hurricane season is already underway, and the forecast is for “above-normal” activity, according to the National Oceanic and Atmospheric Administration (NOAA). It predicts up to 13 hurricanes, with four to seven categorized as “major” storms. LEARN MORE…

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