Lori Rittel is stuck in her Florida Keys home, living in the wreckage left by Hurricane Irma two years ago, unable to rebuild or repair. Now her best hope for escape is to sell the little white bungalow to the government to knock down. Her bedroom is still a no-go zone so she sleeps in the living room with her cat and three dogs. She just installed a sink in the bathroom, which is missing a wall, so she can wash her dishes inside the house now. Weather reports make her nervous. “I just want to sell this piece of junk and get the hell out,” she said. “I don’t want to start over. But this will happen again.” The Great Climate Retreat is beginning with tiny steps, like taxpayer buyouts for homeowners in flood-prone areas from Staten Island, New York, to Houston and New Orleans — and now Rittel’s Marathon Key. Florida, the state with the most people and real estate at risk, is just starting to buy homes, wrecked or not, and bulldoze them to clear a path for swelling seas before whole neighborhoods get wiped off the map. By the end of the century, 13 million Americans will need to move just because of rising sea levels, at a cost of $1 million each, according to Florida State University demographer Mathew Haeur, who studies climate migration. Even in a “managed retreat,” coordinated and funded at the federal level, the economic disruption could resemble the housing crash of 2008. To view the full article visit Bloomberg.
