Waterfront condo buyers not troubled by flood risks

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Will global warming cause sea levels to rise, putting coastal areas at greater risk of hurricanes and tropical storms (Sandy? Katrina? Isabel?)? Fuhgedaboutit … say Baltimore Realtors who are doing brisk business in high-rise waterfront condos priced at more than $1 million.

Steven Murphy, who sold $45 million worth of property last year in waterfront neighborhoods like Fells Point and Canton, says concerns about flood hazards cropped up after Hurricane Sandy, but didn’t last long.

“Once the media is on something, it’s high on people’s radars,” Murpy tells Capital News Service. “And after a couple years people lose that level of concern.”

“I think more people have decided to move out of Canton and Highlandtown because they can’t find a parking place than because they’re near a flood plain,” said Realtor Joseph T. “Jody” Landers III, who thinks the National Flood Insurance Program also puts property owners at ease.

Jagadish Shukla, a professor of climate dynamics at George Mason University, believes that rather than ignoring the risks, the public is simply uninformed. Source: bradenton.com.