In large US cities, is there any correlation between elevation and property value? Specifically, does publicly-funded housing tend to be built in areas with lower elevation than higher-priced housing?
There are numerous articles that speak of "climate gentrification" (where land with higher elevation will cost more) that will become a trend in the next hundred years in coastal areas, but is this already the case (even in non-coastal areas)?
Keren Bolter is a doctoral student of geosciences at Florida Atlantic University researching what areas in South Florida are particularly threatened by rising seas. She says all methods of analysis for the risks of sea-level rise only focus on financial vulnerability -- ranking Fort Lauderdale Beach and Miami Beach as high-risk -- but to her, that's not the whole story....
Some lower-income neighborhoods may be more vulnerable to the impacts of rising seas than coastal areas.
According to University of California-Berkeley, in the next hundred years, large seaboard chunks of Mountain View, Palo Alto, Redwood City, Menlo Park and Sunnyvale will be under the ocean, entailing detrimental economic implications that are going to all citizens of the Bay Area. However, these implications are going to disproportionately affect the lower classes in the Bay Area.
Another source claims this but also claims that Miami does not fit this pattern, however this source also makes it clear that "the projects" (publicly-funded housing) will be destroyed to make room for higher-income real estate:
the seas will eventually rise, potentially bringing the coastline of South Florida closer to Miami's historically black neighborhoods....
"Oh, Miami Beach is going under, the sea level is coming up," Harewood said. "So now the rich people have to find a place to live. My property is 15 feet above sea level, theirs is what? Three under?
"So OK," he said, taking on the voice of a rich developer, "let's knock down the projects, and we move in and push them out." ...
Keenan's not certain, but he thinks he may have coined the term "climate gentrification." In Miami, it's the reverse of the process in many other parts of the United States, or even in the developing world, where the poorest people to flooding and sea-level rise often live on low ground most vulnerable to flooding.