Why are more skyscrapers being built in Miami if the area will be underwater in the future? (Venice: real estate, buying)

[floridarebel]

It kinda bewilders me because I see articles or videos talking about how south Florida will be submerged by sea level rise within our life time. Yet more skyscrapers are being built like no tomorrow in downtown Miami area. Why do all this if the area is supposedly going to be underwater so soon? Does that mean the predictions are all bunk? Shouldn't people instead be moving and leaving the area?

[starlitwanderer]

It seems like not everyone has the same belief in those predictions. Brought to you by the same people who thought we would breed our way into oblivion by now. But who knows, maybe it will become like Venice, sky scrapers are then a good idea

[bale002]

Originally Posted by floridarebel

It kinda bewilders me because I see articles or videos talking about how south Florida will be submerged by sea level rise within our life time. Yet more skyscrapers are being built like no tomorrow in downtown Miami area. Why do all this if the area is supposedly going to be underwater so soon? Does that mean the predictions are all bunk? Shouldn't people instead be moving and leaving the area?

In the long run, we are all dead.

Life is a series of short runs.

Those who have money now buy now because they want warmth and water now.

The builders build now and take the money now.

Besides, what odds do you give that the doomsday predictions are wrong in a series of short runs?

[elnina]

Why think about future when one can make money today?

Lots of that high end Real Estate is owned by international elite. Many of the current and future owners are not in Miami-Dade often enough to experience the regular “king tide” flooding. And if their investments go south because of sea level rise, many of these property owners are rich enough to simply shrug off those losses.

[Bobdreamz]

I've been hearing about Miami being under water since the 1980s and nothing so far.

[elnina]

Originally Posted by Bobdreamz

I've been hearing about Miami being under water since the 1980s and nothing so far.

Miami's sea level is rising on an average of 1 inch every 3 years.
So, it will take a while...
A rise of only 2 feet will cause 10% of South Florida to be under water and a rise of 5 to 6 feet will displace almost a third of Miami-Dade County’s current population.
The sea at the southern end of the Florida Peninsula has risen 1 foot since the 1990s and sunny day floods are four times more frequent today compared to 15 years ago.

https://www.theinvadingsea.com/2021/...opportunities/

[CXT2000]

Short term profit, that is all. It may not be underwater right now, but flooding is getting more severe and happening easily. But the elite don't care about that, they'll make their money quickly and then move on to another project/gentrify another area.

[MiamiLIFE]

Originally Posted by floridarebel

It kinda bewilders me because I see articles or videos talking about how south Florida will be submerged by sea level rise within our life time. Yet more skyscrapers are being built like no tomorrow in downtown Miami area. Why do all this if the area is supposedly going to be underwater so soon? Does that mean the predictions are all bunk? Shouldn't people instead be moving and leaving the area?

You could ask NY the same question. They seem to think they will not be impacted by rising waters. I was there during Hurricane Sandy and watched all those subways flood. I don't think NY will do any better than Miami as the seas rise. Much of the coastal cities will be gone if the projections are true; not only Miami.

[elchevere]

Very simple Economics 101 answer: they will continue building (supply) as long as people continue buying (demand) and moving here.

[Corrie22]

Originally Posted by elnina

Miami's sea level is rising on an average of 1 inch every 3 years.

that's total BS......it's 1 inch a decade....1 inch in 10 years

it will take over a century to raise a foot

https://tidesandcurrents.noaa.gov/sl...tml?id=8723214