I get it. I’ve finally figured it out. The wealthy are trying to drive down the value of beach front property so they can buy it up. While they say the seas are rising, they keep buying properties below the predicted sea levels.
Obama has two properties that will soon be under water should his prophecy come true.
Personally, I will not believe any of them until they start building seawalls. So far, I see no hint of that. On the contrary, they keep buying the low lying expensive real estate. It is certainly clear that these FOCs don’t believe what they preach.
A side note: Some of those who have low lying mansions, just might realize that walls really do work and they just might start on their own.