Hurricanes and the five other natural risks to worry about when it comes to Florida real estate

Tropical storm #Idalia is shaping up to hit the #Florida gulf coast this week and may cause severe damage across the state. Hurricanes?? and tropical storms get the most attention and I remember being in #newyorkcity during Hurricane Sandy when the power plant in the East Village went out with a spectacular explosion of light. Besides storms, there are at least five other climate and natural disaster challenges that real estate investors should be thinking about. Which ones are you most worried about? Which ones am I missing? Please comment below and share so we can all have a productive discussion on the topic:

1?? Sea Level Rise ?? Florida is one of the most vulnerable states in the US to sea level rise. This is a major threat to coastal real estate, as it can lead to flooding, erosion, and saltwater intrusion.

2?? Extreme Weather Events (Hurricanes, Floods) ??

3?? Property Insurance Hikes ?? Rising insurance costs are another challenge facing real estate investors in Florida. As the risk of climate-related damage increases, insurance companies are raising rates and even refusing to insure some properties.

4?? Buyer Demand:??Climate change could also impact demand for real estate in Florida. Some people may be less willing to buy property in areas that are at risk of flooding or other climate-related hazards.

5?? Water pollution:??Florida's water resources are also threatened by climate change. Rising temperatures can lead to algae blooms and other water quality problems.

6?? Regulatory Changes ??: FEMA may not give away cheap flood insurance anymore. Governments may stop subsidizing coastal areas.

7?? Other (Please specify) ??

I hope this will help to generate discussion and share information about the challenges facing real estate investors in Florida. All of these challenges have solutions and are mostly things to be aware of. Understanding them makes us more aware and prepared!