Oddbean

U.S. Cities Are Sinking. Here’s What That Means For Homeowners (Video) ========== Land subsidence, a phenomenon affecting cities like New Orleans, New York City, and south San Francisco, can severely affect buildings and infrastructure, and when combined with sea-level rise, increase flooding. Research shows that problems associated with land subsidence can cost U.S. homeowners 6% of their home value, and in areas with high subsidence, that number can jump to 8.1%. Standard homeowners insurance usually does not cover land subsidence issues. Both natural processes, such as glacier recession and tectonic activity, and human-induced processes, such as groundwater extraction and heavy building materials, contribute to land subsidence. Infrastructure is often not designed to account for shifting land, putting it at risk. Experts warn that land subsidence is putting U.S. infrastructure in a precarious situation and could be costly to fix. #LandSubsidence #Homeowners #Flooding #Insurance #Infrastructure https://www.cnbc.com/2024/07/11/us-cities-are-sinking-heres-what-that-means-for-homeowners.html