If you are looking for a seasonal home in either the Southeast or the desert Southwest, the news about current drought conditions affecting wide areas in these regions may well enter into your decision about exactly where to buy and where you may choose to avoid.
With all the stories about Global Warming coming at us daily from just about every news organization, it’s little wonder that people might begin to take a closer look at climate change predictions before buying in certain markets. The first and most obvious region where these factors have caused some market distress was the hurricane-prone areas along the U.S. coastline, particularly in Florida and along the Gulf Coast. And there appears to be a growing concern in some quarters about the likelihood of sea level rise due to Global Warming. When and to what degree will this affect how potential buyers evaluate vacation home properties?
The drought-related stories coming out of the Southeast, and particularly Georgia, are stirring more discussion about how local and regional real estate markets may be impacted if current trends continue or accelerate. Drought concerns are also affecting large areas of the Southwest, where leading climatologists are making predictions of a possible shift toward long-term drought conditions.
For an informative article on how fears of drought and other climate change may affect the real estate market, click here for a sobering piece on the subject from Realty Times.