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Business Daily: Sinking State?

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30/05/2017 GMT

Sinking State?

BBC World Service - Business Daily, Sinking State?

The growing concern about rising sea-levels and its impact on Florida real estate

With more than a million homes just a metre above the high tide line, there is mounting concern about the impact of rising sea levels on Florida's wealthy property market

Ed Butler travels to Florida to assess the impact of rising sea-levels on a booming property market that has more than a million homes just a metre above sea level. Key Largo resident Stephanie Russo tells him what it was like to be stranded by flooding and why it is getting more common. 
Former local Mayor Jim Cason talks about the increasing issue of getting insurance for homes along the water, and what it will take for Florida's many wealthy residents to have doubts about staying there. Miami Beach Property Agent Alex Podritsky explains why global investors are still flocking to the State despite the risks. South Miami Mayor Philip Stoddard is concerned the area may have to be abandoned entirely and explains why coastal mortgages could be 'the next financial bubble'. 


(Picture: Florida coast line, Credit: Getty Images)

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