Property loss and rising lake levels

Asked August 28, 2019, 11:52 AM EDT

Asking another question: Are there articles about what happens to housing ( in terms of value, liability, foreclosure, etc.) on Lake Michigan when the lake rises? I'm thinking of the properties in St. Joe's that have lost all their beach...and most if not all of their land between their structure and the water.

Washtenaw County Michigan flooding great lakes lake levels property values

1 Response

Record high water levels on Lake Michigan are a concern for both property owners and local governments. Many agencies and organizations are observing economic impacts due to rising water levels on a national and global scale. What we see is not just an issue of loss of waterfront property, but also economic impacts due to damage from subsequent erosion issues and extreme storm events related to the high water levels.

Here is a shortlist of helpful articles that will hopefully add to your knowledge base about this issue. While it is difficult to find Michigan-based data that correlates changes in property values to rising water levels,
I have included a national study that correlates property values with rising ocean levels in our coastal states:


https://www.marketplace.org/2019/08/15/rising-great-lakes-water-levels-benefit-some-but-cost-others/

https://www.freep.com/story/money/business/john-gallagher/2019/07/16/high-water-levels-climate-change-michigan/1703252001/

https://www.pbs.org/wgbh/nova/article/study-finds-billions-of-dollars-in-home-value-lost-to-rising-sea-levels/