NPR

Foreign Investors Shrug Off Miami's Rising Sea Levels

Sea-level rise is so acute in South Florida that local governments are eyeing hundreds of millions in spending to mitigate floodwaters. But wealthy foreign investors don't seem fazed.
People walk through a flooded street in in Miami Beach, Fla., in 2015. The city is eyeing $500 million in infrastructure upgrades, installing 80 new pumps over a decade to redirect floodwaters back to the ocean. Source: Joe Raedle

The seas are rising, frequently flooding the streets even when no storms are on the horizon. But that hasn't stopped foreign investors from shelling out big dollars for Miami real estate. Many are in it for the relatively short-term investment, then they'll try to sell before climate change takes its toll, observers of the local market say.

Visit South Florida and you would have no idea this boomtown was a subprime war zone just a decade ago. In the wake of that collapse, Miami's skyline was dominated by

You're reading a preview, sign up to read more.

More from NPR

NPR2 min readScience
Mass Protests In Australia Kick Off Global Climate Strike Ahead Of U.N. Summit
The rallies in Sydney, Melbourne and elsewhere drew tens of thousands of people. Similar protests were expected across the U.S., U.K., Germany, France and elsewhere.
NPR3 min readScience
Global Youth Climate Strike Expected To Draw Large Crowds
Strike organizers are calling on their fellow young people to skip school Friday and rally to demand greater action against climate change.
NPR5 min read
Some 'Podunk' Town In The Middle Of Nowhere
"Podunk" is supposed to be bleak and isolated. But there are a few things that people who use the term might not know. For one, it really exists. For another, its history predates the United States.