All right my friends and followers, what do YOU think?
I don't often venture into the world of science and politics, it tends to be bad for business.
However, with so much of our economy and development in South Florida focussed around our beaches I was wondering about YOUR plans for the future.
I talked to a friend in Clearwater Beach, that decided NOT to buy a beautiful $3M home on the Gulf with 270 degree water front. The home was an amazing value. I don't think that you could ever buy a home like this in a first world country for as little as $3M, and my friend certainly had the money to afford it. So I had to ask... why did he resist?
His answer took me aback a bit. The home was built to be Hurricane resistant, but, his thinking was that in the next 30 years or so, with climate change, the home was likely to no longer be waterfront, but in the water. Climate change would ruin his home due to rising oceans, and he couldn't justify the $3M for a home that would last only 30 years.
I was very surprised, but it got me thinking.
How many of you, are considering opening or expanding your commercial real estate presence in Boca Raton more inland, our of concern that climate change might destroy your waterfront values?
I'd be very interested in your comments. The jury is out for me either way, and the South Florida part of me always wants Water Water Water and more Water. How much is the threat of possible climate change influencing your commercial real estate in Boca Raton decisions?
Orin.
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