CBS News: In New England, home prices fall as seas rise

A rising tide may lift all boats, but that doesn’t apply to coastal real estate. Higher sea levels have slashed the home values of four New England states by more than $400 million over a dozen years, according to research from the Brooklyn-based nonprofit First Street Foundation.

Massachusetts’ property owners have suffered the biggest losses, with rising sea levels responsible for lowering the total value Bay State homes by more than $273 million. Maine is next, with nearly $70 million in losses, followed by Rhode Island at roughly $45 million. Losses in New Hampshire, which has the shortest coastline in New England, topped $15 million.

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