Yahoo discusses climate gentrification – how extreme weather is displacing low-income residents from their communities.
Sea levels are rising at an alarming rate — and for Miami-Dade County, situated between 4 and 6 feet above sea level and with a population of over 2.7 million people, that means a lot of real estate at risk to rising waters and extreme weather.
Miami has the largest amount of exposed assets and the fourth-largest population vulnerable to sea-level rise in the world. Often called ground zero for climate change, Miami-Dade has more people living less than 4 feet above sea level than any U.S. state, except Louisiana.
Rising seas are threatening multi-million dollar properties in communities up and down the coast of South Florida. But it’s not only luxury homes at risk. As more and more people are searching for higher ground, lower-income, inland communities are being forced out.
“People are now looking at developing inland, where it’s safer, where it’s a little bit higher altitude. And so that could create gentrification pressures inside. We’re starting to see that,” Miami Mayor Francis Suarez said in an interview with Yahoo Finance.