Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Why Are Developers Still Pouring Billions into Waterlogged Miami?

bloomberg.com

Post reply on HN
Print view View original

81–90 of 113 posts

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#81

Post by Spooky23 »

A: Because lots of available capital drives dumb real estate decisions. Always.

Real estate is unique because it's value is realized over long periods of time and it's easy to get mortgages.

In my area, they're building massive gluts of apartments and condos. The dumb money -- mostly smaller regional banks trying to break into commercial lending are leading the deals, and the bigger or more sophisticated banks stay away.

That's a big reason why you have extreme boom/bust cycles, special tax rules, etc.

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#82

Post by flukus »

Avshalom wrote: post #76
bpicolo wrote: post #65

Earlier quoted context omitted.

Alligators are mostly just fresh water. They can sort of survive brackish / a bit of salt but they're not as versatile as crocs.

Unfortunately that opens the door for invasive saltwater crocodiles. While alligators are mostly super chill crocs are total dick bags.

But then sea level rise will fix the issue. If cities are sticking out like islands then it doesn't leave much habitat for crocs.

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#83

Post by ak4g »

hackuser wrote: post #74
mistermann wrote: post #72

Earlier quoted context omitted.

...assuming something WILL have to be done. If we can continue to muddle through for 100-200 years, it isn't cheaper to fix it now.

> If we can continue to muddle through for 100-200 years That is wishful thinking. The clear consensus is that we can't, and that it's not a close call.

Sources please.

The clear consensus is that AGW is real. That is a far cry from saying that there is a clear consensus that it must be dealt with ever, let alone that it must be dealt with in the near-term.

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#84

Post by CalChris »

tqkxzugoaupvwqr wrote: post #52
gniv wrote: post #18

Earlier quoted context omitted.

Or maybe Miami will turn into a Venice-like romantic canal city, where travel will be done by jetski, tourism will flourish, and real estate prices will keep going up.

Isn’t Florida plagued by alligators? A Venice-like canal city and alligators make for an interesting mix.

New Orleans has the occasional alligator in the bayous as well.

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#85

Post by hackuser »

ak4g wrote: post #83
hackuser wrote: post #74

Earlier quoted context omitted.

> If we can continue to muddle through for 100-200 years That is wishful thinking. The clear consensus is that we can't, and that it's not a close call.

Sources please. The clear consensus is that AGW is real. That is a far cry from saying that there is a clear consensus that it must be dealt with ever, let alone that it must be dealt with in the near-term.

As a start: The U.S. military and the U.S. intelligence community; and I'm almost certain: The IPCC and the insurance industry.

I encourage you to read the IPCC summary report; it will clear up a lot of mysteries.

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#86

Post by jcranmer »

throwaway98237 wrote: post #66

Why is humanity still pumping unsustainable levels of greenhouse gases into the atmosphere when all the science points to that being a road that leads to catastrophic consequences which we can't predict?

What would you, personally, give up to make that happen?

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#87

Post by Johnny555 »

jcranmer wrote: post #86
throwaway98237 wrote: post #66

Why is humanity still pumping unsustainable levels of greenhouse gases into the atmosphere when all the science points to that being a road that leads to catastrophic consequences which we can't predict?

What would you, personally, give up to make that happen?

For what it's worth, I've given up my car (I live within easy biking distance of work), live in a small townhouse (heating costs $20/month in the winter thanks to good insulation and neighbors eliminating heat loss to the sides). I purchase few goods, and try to keep most things as long as possible. Most of my entertainment/shopping is within walking/biking distance. I try to limit waste and compost/recycle everything I can.

My electrical usage is so low that I don't think installing solar would be a net win in carbon emissions.

Based on various calculators, my carbon footprint is about half that of a typical American. Now can I ask for a 28% decrease in carbon emissions?

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#88

Post by acchow »

finnh wrote: post #10
sulam wrote: post #8

Earlier quoted context omitted.

Before you short, read the Big Short and imagine yourself as Michael Burry. Very often you can be short, right, and lose your pants because markets are slow to recognize things that they are paid to ignore.

Yup. The markets can be irrational longer than you can be solvent. But there must be some arbitrage with derivatives or something, right? =)

No, that's exactly the problem. If you're betting on the market's irrationality fixing itself, you better be able to weather the storm of however long that takes.

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#89

Post by loader »

jcranmer wrote: post #86
throwaway98237 wrote: post #66

Why is humanity still pumping unsustainable levels of greenhouse gases into the atmosphere when all the science points to that being a road that leads to catastrophic consequences which we can't predict?

What would you, personally, give up to make that happen?

I gave up meat (except fish) 13 years ago. Not because of climate change but I keep it going in part because of it now.

Look into how much water and food you need to grow cows.

Re: Why Are Developers Still Pouring Billions into Waterlogged Miami?

#90

Post by mmaunder »

cjlars wrote: post #4

If you look at various financial crises throughout history, you'll see that even amid increasingly clear evidence of problems, the status quo is surprisingly sticky. Things move along as normal, and everything seems fine until suddenly... they don't. In hindsight things seem obvious, but at the time it's difficult to know if you are merely flirting with the edge, or you've actually gone over it. Miami real estate (an…

Same in Seattle in the late 1800's.

> While a destructive fire was not unusual for the time, instead of rebuilding the city as it was before, the response of the city leaders was to make two strategic decisions: first, that all new buildings must be of stone or brick, as insurance against a similar disaster in the future; and second to regrade the streets one to two stories higher than the original street grade. Pioneer Square had originally been built mostly on filled-in tidelands and, as a consequence, it often flooded. The new street level also assisted in ensuring that gravity-assisted flush toilets that funneled into Elliott Bay did not back up at high tide.

https://en.wikipedia.org/wiki/Seattle_Underground

Post reply on HN