As a kid, it has been my dream to live in a waterfront property some day; so far it has not materialized. The closest I have come to it is hotels and homes of friends. Unfortunately, with hurricanes like Katrina and Sandy and the recent NEMO snowstorm here in the Northeast, I have noticed that the damage to waterfront properties has been more pronounced. While we got almost 30 inches of snow, since we are so far from the ocean, we were spared the worst of the damage (we had even prepared for power outage but were spared that too).
So should I abandon my dream of owning a water front home some day? That is what I am leaning towards. It does not matter whether you accept that global warming is real (I do) or deny that it exists (thanks to the oil companies that have billions of dollars of investments at risk if they acknowledge that global warming exists and in order to stop any legislation that could hurt their profits in the near term, they have bought scientists and politicians to deny climate change), when it comes to your investments, you should keep politics and beliefs aside. The weather during last ten years has been remarkably different than it has been in the past and I cannot take the risk of buying a water front property and see it washed away by a storm.
So should I abandon my dream of owning a water front home some day? That is what I am leaning towards. It does not matter whether you accept that global warming is real (I do) or deny that it exists (thanks to the oil companies that have billions of dollars of investments at risk if they acknowledge that global warming exists and in order to stop any legislation that could hurt their profits in the near term, they have bought scientists and politicians to deny climate change), when it comes to your investments, you should keep politics and beliefs aside. The weather during last ten years has been remarkably different than it has been in the past and I cannot take the risk of buying a water front property and see it washed away by a storm.