Being “underwater” is what a lot of homeowners experienced during the housing meltdown, but for people in Miami, that term is gaining a whole new meaning - one that is perhaps, more fitting. There are about 2.5 million people in Miami-Dade County, and if the latest scientific analysis is right, the ocean could rise enough to flood all of South Florida by the turn of the next century.
This new study used a satellite technique to determine how fast the Earth’s oceans are rising. It claims that before 1990, the sea was rising about 1.1 millimeters per year. That’s a faster rate than previous studies have shown. It also shows the rate of sea-level rise almost tripled to 3.1 millimeters per year from 1990 to 2012. Scientists say that may not seem like a large amount but that even small increases in the sea level can cause major flooding and more deadly storm surges.
Find out what this all means at: NewsForInvestors.com