As a Realtor of 25 year's experience, my take is these prices are waaaay too crazy. BUT, as long as a waterfront property (and it's immediate area) is above the level of the expected sea level rise, you should expect a modest downward adjustment in price for 2-3 years out of every decade, and 2-5% appreciation in the other 7 years. The Federal Reserve's determination to undermine the value of the dollar by expanding the money supply forever will ensure that any drop in value will be "transitory", unlike their description of inflation, which will be permanent. Example A: The 11 bedroom 9 bath victorian style house in Beach Haven, NJ, (on Long Beach Island, a barrier island) that I could have bought during the recession of 1992 for $350,000 is now for sale at $2.5 million.
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