Climate Change

"Studies show that humans don’t respond well to abstract projections. We overvalue short-term benefits, such as driving SUVs, burning coal and building waterfront real estate. We choose these extravagances even though they impede beneficial long-term outcomes, such as saving threatened species, or reducing the intensity of climate change."

"Humans tend to respond to immediate threats and financial consequences – and coastal real estate, especially in Florida, may be on the cusp of delivering that harsh wake-up call. The peninsula has outsized exposure: nearly 2 million people live in coastal cities. On the list of the 20 urban areas in America that will suffer the most from rising seas, Florida has five: St Petersburg, Tampa, Miami, Miami Beach and Panama City. In 2016, Zillow predicted that one out of eight homes in Florida would be underwater by 2100, a loss of $413bn in property."