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January 9, 2007

Today's Housing Bubble Post - Coastal Real Estate Prices

-- by Dave Johnson

People still buy real estate that will be underwater in a few decades. Think about that.

The reason we don't take global warming seriously in America is because ExxonMobil has been spending millions and millions of dollars funding a PR campaign designed to shift our attention away from the problem. This has been very good for business for them, but it has caused each and every one of us to behave in ways that are counter to our OWN and society's interests.

One day this will change. One day the consequences of global warming will become too serious to ignore. One day ExxonMobil will stop paying the Competitive Enterprise Institute and the Center for Defense of Free Enterprise and Citizens for a Sound Economy and the American Enterprise Institute and the Frontiers of Freedom Institute and the Heritage Foundation and the Hoover Institution and the National Center for Policy Analysis and the hundreds of other right-wing "think tanks" they pay to tell us global warming is a hoax (read the report), and then the fog will start to lift and we will start to see the world as it is -- the "reality-based" world we live in rather than the one we see on TV.

How is this a "Today's Housing Bubble Post?" Think about what will happen to real estate prices in coastal areas when we do start taking global warming seriously. How much will people pay for real estate that is going to be under water in a few decades?

Posted by Dave Johnson at January 9, 2007 9:06 AM

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Comments

First off I'd like to say global warming is a hoax. Second, even if the polar ice caps were to completely melt the level of the ocean would drop considerably. When water freezes it traps air causing it to expand and take up more space. If all that ice were to melt, it would release the trapped air and and become more dense upon turning into a liquid state. The reason ocean levels are currently rising? Soil runoff and sediment washed into the ocean every year due to wasteful farming and irrigation practices worldwide.

Posted by: word2thewise at January 9, 2007 6:03 PM

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