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The Coastal Erosion of Nantucket Devalues the Real Luxury Estate: the Climate Risk that Monitors the Great Heritage.
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1 Articles
The coastal erosion in Nantucket has turned mansions of almost two million dollars into purchases of 200,000 dollars. I have followed this market with attention because the gap between fiscal value and closing price reveals how the climate risk begins to be discounted in the valuation of the real estate prime. In Siasconset and Madaket, two of the most exposed areas, the cliffs recede irregularly. Local lawyer Steven Cohen describes the change w…
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