A new study suggests the value of beach properties on the East Coast has dropped by billions of dollars in the last decade, and it's likely to continue.
The study comes from the First Street Foundation, a nonprofit that spreads awareness about sea-level rise. And the numbers are stark.
The report suggests that more than $7 billion in coastal property value has been lost across just five states, including the Carolinas, Georgia, and Florida.
In North Carolina, scientists found nearly 82,000 properties had been affected over the last decade to the tune of roughly $600 million.
The publicly available FloodiQ can show property owners their risk of flooding, the expected level of nearby rising water through 2033, and more.
While other studies have looked at what could happen as oceans rise, this investigation is among the first to look at what people have already lost.
According to the Army Corps of Engineers, sea levels in places like Wilmington are expected to climb more than six inches over the next few decades.