"Nantucket Real Estate: Climate Change's Impact on Property Prices"
A waterfront home in Nantucket, Massachusetts, originally listed at $2.3 million, saw its price slashed by 74% to $600,000 due to drastic shoreline erosion caused by climate change. The property's value plummeted as the shoreline lost 70 feet in just a few weeks, highlighting the impact of sea-level rise on coastal real estate. The risk of purchasing coastal properties, potential uninsurability, and fluctuating property values due to climate change are becoming significant concerns for homeowners and real estate investors.