218 Malibu Houses In Way Of Global Ocean Rise, Study Says
Written by 991KBU on June 18, 2018
Global ocean rise is going to hit Malibu in the pocketbook … hard and soon.
A new study says 218 houses in Malibu will be chronically flooded in the next 30 years .… the length of one mortgage.
That’s 716 million dollars worth of Malibu beachfront … according to a computer study by the Union of Concerned Scientists.
And the census shows that 414 people in Malibu will have to be relocated.
This represents one percent of the homes in the 90265 ZIP Code.
Those houses pay property tax … $8,614,878 to the local property tax base.
The Union Of Concerned Scientists has run ocean rise data against coastal maps … and come up with two national maps.
One looks at the next 30 years … the other out 80 years.
The scientists say a threshold will approach … where normal routines become impossible.
Coastal residents, communities, and businesses will soon be forced to make difficult, often costly choices.
Nationwide … more than 300,000 of today’s coastal homes are at risk of coastal flooding within 30 years … the lifespan of a typical mortgage.
That is a collective market value of about $117.5 billion today.
