Rising seas will wipe out $30B of property in one N.J. town, report says

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Hurricane Sandy damaged home, Mantoloking beach

JOSEPH ATMONAVAGE / NJ.COM – The year is 2100, and 45,757 homes valued at nearly $30 billion are underwater in Upper Township.

According to research done by the real estate company Zillow, that doomsday scenario is what is projected to happen the Cape May County township, if rising sea levels continue on their current trajectory.

It would wipe out more than half of the homes in Upper Township. The research projects that the town would be one of the ten worst impacted areas in the nation.

According to the research, nearly 2 million homes (or roughly 2 percent of all U.S. homes) — worth a combined $882 billion — are at risk of being underwater by 2100 if sea levels rise by six feet …

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