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High prices signal demand. They say nothing about whether a particular item is a sound investment or not. Just ask Bernie Madoff's clients.
Prices go up until they don't.
You can't be much of a capitalist if you don't know this.
Madoff lied and he paid high interest initially.
According to you, EVERYBODY knows that coastal cities will be under water because of global warming. It is a foregone conclusion as sure as the sun rises each day, and anybody doubting it is a science denier and is not living in reality.
Given all that, who would pay the premium to living in any coast city????
Last edited by lifeexplorer; 12-14-2019 at 02:49 PM..
From 2011 to 2015, sea levels rose up to 5 inches in some locales from North Carolina to Florida!
Quote:
Charleston and Savannah, Georgia broke records for days with high tide flooding. Due to El Niño conditions, the report projected flooding 25 percent above average in 2017-2018 in locations including Atlantic City, New Jersey; Wilmington, North Carolina; Norfolk; Washington, D.C.; and Baltimore. For Wilmington, the report predicted 52 days of flooding. For Charleston, it was 28, and for Norfolk, 11.
Intersting article....so the North Atlantic Oscillation can affect the speed of the Gulf Stream...and when it slows the Gulf Stream..wind, etc...can cause water to pile up on the east side....raising the tide level
who would have though that wind blows water around....
You buy a house at a premium that EVERYBODY KNOWS it will be under water in 50 years. Each year, your property value drops 1/50 or 2%.
Which idiot would buy your house from you after a few years so that you can make a profit????
None, obviously. We’re not at that point yet.
The point we’re at is that plenty of people disbelieve that the sea is rising, and they want ocean front property. So they are buying and selling and driving prices higher. Since lenders are still willing to lend and insurers are still willing to write policies and many local governments are still willing to issue building permits, buyers feel free to buy. Check the situation 10 years from now.
Now, I sure wouldn’t buy.
Seems like a lot of people don’t understand bubbles. Which is weird, because bubbles are inherent to capitalism.
According to you, EVERYBODY knows that coastal cities will be under water because of global warming. It is a foregone conclusion as sure as the sun rises each day, and anybody doubting it is a science denier and is not living in reality.
Given all that, who would pay the premium to living in any coast city????
WHERE did you get THAT idea? Please show me where I have ever said any such thing, in this thread, in this forum, or anywhere at all on the internet. Take a look at this thread. I am in touch with reality, and I can plainly see that plenty of people don’t think that sea level is rising, or, if it is rising, that it’s nothing to worry about.
I disagree, it is happening already, and it is already starting to affect some people’s lives. That’s a minority opinion here.
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