How Climate Change Is Affecting Miami Real Estate And Gentrification
- 5 years ago
In Miami, a housing crisis is happening due to soaring rents and a shortage of affordable housing. Neighborhoods where the majority of residents are people of color are quickly gentrifying, not only due to market forces but climate change as well. Rising sea-levels have started affecting the wealthier, lower-lying areas of South Florida, says HuffPost. This is making prices rise farther inland in neighborhoods unknown to tourists. High ground is slowly becoming more valuable, according to an April study conducted by Harvard University. This phenomenon is being labeled "climate gentrification."