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Rising sea levels could cost U.S. homeowners close to $1 trillion

Homebuyers have proven to be a stubborn bunch when it comes to building and buying homes in coastal areas.

By Patrick Clark | Updated on August 02, 2016

(Bloomberg) – When talking about housing, “underwater” usually means you owe more on a mortgage than the home is actually worth. If climate change continues apace, that term could take on a much more literal meaning. 

Rising sea levels could soak homeowners for $882 billion, according to a new report from real estate website Zillow. The research takes its initial cue from the journal Nature, which in March found sea levels could rise more than 6 feet by the end of the century.

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