Rising seas could wipe out $1 trillion worth of U.S. homes and businesses | Grist

 

Some 2.4 million American homes and businesses worth more than $1 trillion are at risk of “chronic inundation” by the end of the century, according to a report out Monday. That’s about 15 percent of all U.S. coastal real estate, or roughly as much built infrastructure as Houston and Los Angeles combined.

The sweeping new study from the Union of Concerned Scientists is the most comprehensive analysis of the risks posed by sea level rise to the United States coastal economy. Taken in context with the lack of action to match the scale of the problem, it describes a country plowing headlong into a flood-driven financial crisis of enormous scale.

 

Check out interactive map to see how your home, zip code or community does: http://US Coastal Property at Risk from Rising Seas.

Union of Concerned Scientists report at: Underwater: Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate (2018)

Grist: Rising seas could wipe out $1 trillion worth of U.S. homes and businesses

A Most Internationally Modernized City – Next City

The New Celestial Empire:

Author’s note: China’s “One Belt One Road” Initiative is an audacious plan to cover half the earth in Chinese-built infrastructure: railways, highways, shipping lanes, and energy corridors. One of the initiative’s marquee projects is a railway that China would like to build from its southern city of Kunming all the way through Southeast Asia to Singapore. Construction has just gotten started, particularly in Laos, the first Southeast Asian country the railway would run through. A poor and extremely undeveloped place, Laos has seen China’s presence grow quickly in recent years. I traveled to Laos in March 2017 while researching a book about the railway to see for myself how the project was coming along. What I found was surreal.

In the remote Laos-China border region, China is turning highland villages into teeming industrial hubs. Engineers have sliced modern highways — the kind you rarely see in Laos — through the jungle. And in one case, Chinese city-builders are resurrecting Boten, a former casino town that had been abandoned years prior, retrofitting it to serve as the railway’s entry point into Laos. This chapter-length excerpt is a snapshot of this isolated region and its dramatic transformation, as China begins its inexorable march with steam shovels, blueprints and big plans for the future.

Source: A Most Internationally Modernized City – Next City

Manhattan Office Rents Increase With Internet Certification | GlobeSt.com

Buildings with high rated internet connections command premium rents. Also interesting is the replacement of FIRE (Finance, Insurance, Real Estate) by TAMI (Technology, Advertising, Media & Information).

“When tenants pay more for their office space, they expect better internet connections,” Shaw Lupton, senior managing consultant at CoStar Portfolio Strategy, tells GlobeSt.com. In looking at WiredScore rated buildings, on average there was a 6.9% increase in rental properties, between each of the four rating levels.The report found Class B buildings benefitted the most from certification. They commanded rents up to $7.50 more per square foot compared to non-Wired Certified structures, also accounting for distances to subways. “Class B building internet connections are much, much less uniform than internet connections in Class A buildings,” explains Lupton. “For Class B buildings, the wired certification sends a much needed signal to the marketplace about the quality of the connection in that building.”

TAMI (technology, advertising, media and information) tenants are attracted to buildings with strong digital infrastructures. This sector leased 13.3% of the platinum rating buildings compared to 6.9% of unrated buildings.

TAMI tenants took up an average of 8.4% of the buildings with the certified, silver and gold level designations.

Source: Manhattan Office Rents Increase With Internet Certification | GlobeSt.com

An Infrastructure Plan That Would Actually Work by Willem Buiter & Dag Detter – Project Syndicate

The total value of commercial assets owned by state and local governments is sure to be of the same magnitude, or larger. After all, local governments own and operate most airports and ports, as well as utilities such as water, sewerage, and electricity – all of which are in desperate need of funding. But real estate comprises the bulk of public commercial assets. By some estimates, publicly owned assets account for as much as one-quarter of the total market value of real estate in a city or county. At the same time, many localities need additional funding for affordable housing.

All told, this public wealth represents a substantial opportunity for investors, local governments, and society as a whole. If professionally managed, the yield from such a vast portfolio of commercial assets could fund not just critically needed infrastructure investments, but also any other public goods and services that are in demand.

Source: An Infrastructure Plan That Would Actually Work by Willem Buiter & Dag Detter – Project Syndicate

Bringing Some New Ideas to an Older Part of Amsterdam – Next City

 

By night, Reguliersdwarsstraat is one of the busiest streets in central Amsterdam. A hub for the city’s LGBTQ community, its restaurants, bars and clubs attract large numbers of locals and tourists alike. By day, however, the picture is markedly different. Despite being just steps away from Amsterdam’s famous floating flower market, the area has struggled to attract the daytime crowds. Related Stories Bronx Worker Cooperative Plans to “Compost Capitalism” Baltimore Businesses Team Up to Address

Source: Bringing Some New Ideas to an Older Part of Amsterdam – Next City

Trump Buried OMB Report That Undermines Entire Premise of His Deregulatory Agenda

As the OMB report’s first graph illustrates, while the regulations during the analyzed decade cost industry at most $128.5 billion—in 2015 U.S. dollars—the estimated benefit for the public was estimated to be $930.3 billion. OMB estimate of costs and benefits

OMB estimate of costs and benefits

Source: Trump Buried OMB Report That Undermines Entire Premise of His Deregulatory Agenda

What Land Will Be Underwater in 20 Years? Figuring It Out Could Be Lucrative – The New York Times

Real estate industry is starting to ask location, location, climate change.

Warehouse developer asks if site or roads will be flooded in 10 years and new consulting firms try to answer.

https://mobile.nytimes.com/2018/02/23/climate/mapping-future-climate-risk.html?referer=http://feedly.com/index.html