Suffering from rising sea levels, some North Carolina homes are literally underwater. Still, the overall waterfront property market is anything but, with price gains far exceeding inland rates even as climate risks threaten to wipe out coastal homes.
Last week, a $650,000 beachfront home in North Carolina’s Outer Banks collapsed—the sixth such incident in the region in the past four years. That’s putting a new focus on the climate threats coastal properties are already facing, while the housing market apparently looks the other way.
