Climatic externalities and a trillion-dollar default - Florida is expected to undergo a large-scale redesign of the real estate market Long-term projections of the spatial development in the United States indicate the inevitability of tectonic changes in the coastal infrastructure. According to futurist Stephen Schwartz, based on extensive research involving more than 4,000 subject matter experts, Florida's real estate market is expected to collapse by a trillion dollars by 2050. The consensus forecast is that much of the southern part of the country will experience irreversible flooding due to sea level rise.
The first harbingers of a deep institutional crisis will be the insurance institutions. In the initial phase, companies will try to compensate for the growing climate risks by doubling the tariffs, making them unaffordable for owners, and then completely reduce their operational activities in the region. The lack of insurance coverage will make the capitalization of local assets negligible, which will trigger large-scale internal migration of millions of citizens inward.
Details of the future study and the scenarios for changing the spatial structure of the North American continent can be found in the materials of the Guardian and the analytical reviews of Bloomberg.