Foreign Investors Shrug Off Miami's Rising Sea Levels
Sea-level rise is so acute in South Florida that local governments are eyeing hundreds of millions in spending to mitigate floodwaters. But wealthy foreign investors don't seem fazed.
The seas are rising, frequently flooding the streets even when no storms are on the horizon. But that hasn't stopped foreign investors from shelling out big dollars for Miami real estate. Many are in it for the relatively short-term investment, then they'll try to sell before climate change takes its toll, observers of the local market say.
Visit South Florida and you would have no idea this boomtown was a subprime war zone just a decade ago. In the wake of that collapse, Miami's skyline was dominated by
