FL - Climate gentrification threatens Miami's last affordable housing
A new documentary and accompanying story from CBSN entitled, "Rising Tide: Priced Out in Miami," detailing how the threat of climate change and sea level rise is causing more wealthy, seaside residents to move inland threatening Miamis affordable housing stock.
The scenario is a common one in many low-income communities in increasingly pricey cities. But in low-lying Miami, it's more than real estate speculation driving the new owners. It's also the fear of climate change.
The city, whose most exclusive neighborhoods are close to the sea and barely above sea level, is increasingly getting flooded during high tides. The city is moving to raise streets and sidewalks by two feet, at a cost of about $1 million a block, but adaptation will only be a partial help. Water is rising right through the ground, permeating the porous limestone on which much of Miami sits. The sea walls other cities are considering won't work here.
Increasingly, the wealthy residents living near Miami's shores are looking at another option: Move inland to higher ground, to historically less desirable neighborhoods populated by working-class people.
Even mobile home parks, because of where they are, are vulnerable to such gentrification.