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Old 17-09-2014, 05:38 PM   #1
cheap
Wirlankarra yanama
 
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Join Date: May 2006
Location: God's Country
Posts: 2,103
Default Investing in cheap ocean front real-estate

Clearly anyone with beach front property is at risk, so I am willing to get you out of the mess you're in, as a sign of good faith and generosity I am willing to pay you each $1 for your soon to be worthless property.

http://www.news.com.au/national/clim...-1227061439094

Climate Council report predicts rising sea levels will cause $200 billion of damage to coastal infrastructure by 2100

THE Gold Coast would lose its beaches. Sydney’s Opera House would flood every day instead of every 100 years. And 48,000 Victorian homes would be swallowed. All by the end of the century.

They’re the predictions in the latest report by the Climate Council, which assesses the nation’s vulnerability to rising sea levels by 2100.

The report Counting the Costs: Climate Change and Coastal Flooding, warns that more than half the Australian coastline is vulnerable to recession from the rising ocean, with 80 per cent of the Victorian coast and 62 per cent of the Queensland coast at risk.

Authors of the report suggest the Gold Coast, which hosts over 11 million visitors a year could be the hardest hit.

The beach is one of the main drawcards for visitors and as sea levels rise, there is no opportunity for the beach to move landwards because of the adjacent high-rise developments.

Rising sea levels would also cause headaches for Sydney, with today’s one-in-100-year flood to occur every day or so by 2100.

And all of these consequences would come at a cost.

The report says that more than $200 billion of Australia’s coastal infrastructure is at risk if the worst-case scenario for sea level rises comes true.

There would be damage to roads, rail lines, hospitals, commercial properties, homes, ports and power stations with a 1.1 metre sea rise by the end of the century.

The council, which replaced the Climate Commission abolished by the Abbott Government, predicts sea levels will rise by between 40cm and a metre by 2100.
However, it says a 1.1 metre increase is not out of the question, an outcome that would put $226 billion in infrastructure at risk of inundation.

Almost 250,000 homes were at risk of the worst-case sea level rise, along thousands of commercial buildings, 75 hospitals, five power stations, 120 ports and up to 35,000km of roads and rail lines.

Report author Professor Will Steffen urged Australia to cut its greenhouse gas emissions, saying failure to do so would be “extremely painful and expensive”.

“The potential threats to Australia, where the majority of us live on the coast are disproportionately large,” he said in a statement.

“We’re talking about the loss of beaches, property, infrastructure and commercial assets worth billions to our economy.”


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