A $2.3 million home listing in Nantucket slashed its price by a whopping 74% after its shoreline experienced drastic erosion in just a few weeks

6 comments

1. Oops ignore the global catastrophe out the back door.

2. >Climate change is to blame. The shoreline surrounding the home lost 70 feet due to erosion in just a few weeks, according to a *Boston Globe* [report](https://www.bostonglobe.com/2024/03/28/metro/nantucket-real-estate-market-erosion-climate-change/). While the 2,625-square-foot property was located at what’s long been considered a prime location in Nantucket, its value was completely washed—literally. While Florida, California, and Texas are primarily the focal points of how climate change is impacting housing, other coastal areas and islands like Nantucket are in danger.

   >“As sea levels continue to rise, we’re also seeing land areas sink, both due to the increased temperatures from human caused climate change,” Kathleen Biggins, founder and president of non-partisan climate change education organization [C-Change Conversations](https://c-changeconversations.org/), tells *Fortune*. “This heavily impacts coastal areas, especially as they become either uninsurable or extremely expensive to insure, because the risk of damage is just too high for market tolerance.”

   Some rich person paid cash. A mortgage would require insurance. It’s uninsurable. The next major storm or Nor’easter will kill the remaining value.

3. So you are saying there’s a chance I can afford it

4. There once was a man from Nantucket, who bailed his house out with a bucket..

5. I keep wondering what’s going to happen when a really big storm finally levels South Florida. It has grown so much while also being the least sustainable place to build.

6. https://www.zillow.com/homedetails/6-Sheep-Pond-Rd-Nantucket-MA-02554/120722428_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

   This is he house, last 6/7 pics show what the yard used to look like