NYC Housing Crisis Worsened: 80,000 Homes at Risk of Flooding by 2040!
The New York Times7 hours ago
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NYC Housing Crisis Worsened: 80,000 Homes at Risk of Flooding by 2040!

REAL ESTATE
housingcrisis
climatechange
flooding
realestate
nyc
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Summary:

  • 80,000 homes in NYC area could be lost to flooding by 2040 due to climate change.

  • This exacerbates the existing housing shortage, potentially leading to a deficit of 1.2 million homes.

  • Flooding will make many areas undevelopable, further complicating the housing crisis.

  • Municipalities will need to build massively to replace flood-lost homes.

  • This issue highlights the global challenge faced by coastal cities dealing with climate change and housing shortages.

NYC Housing Crisis Exacerbated by Rising Sea Levels

A recent report reveals a grim prediction for New York City's housing market: 80,000 homes in Staten Island, southeast Queens, and surrounding suburbs could be lost to flooding by 2040. This alarming figure, released by the Regional Plan Association, highlights the devastating impact of climate change on the city's already strained housing situation.

Flooded street in NYC

The report underscores the critical need for immediate action. The combination of climate change and a pre-existing housing shortage could lead to a deficit of 1.2 million homes. This means not only the loss of existing housing but also the inability to build new homes in areas increasingly susceptible to flooding. Building more housing simply to replace what’s lost to flooding will be a monumental task.

Woman checking mail in front of flooded street

According to Moses Gates, vice president for housing and neighborhood planning at the Regional Plan Association, local municipalities will face an unprecedented challenge. They will have to build significantly more housing just to counteract the losses from flooding. This situation underscores a global challenge: coastal cities worldwide are grappling with similar threats. The report serves as a stark reminder of the interconnectedness of climate change and the ongoing housing crisis in NYC.

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