Bloomberg Quicktake published this video item, entitled “Ravaged Florida Town Becomes a Magnet for Risk-Taking Homebuyers” – below is their description.
A year after Hurricane Ian ripped through southwest Florida, wealthy risk-takers are transforming one beach town.
In Fort Myers Beach, many of the middle-class cottages that once dotted the Estero Island town were wiped off the map. Ian killed 21 people and swept away a third of the homes and businesses on the narrow, 6.5-mile-long strip of sand, leaving a blank canvas for affluent newcomers — and a preview of what could take hold in other coastal communities as climate change spawns more intense storms.
Across the US, the wealthy are reshaping landscapes battered by hurricanes, fires and other disasters at a time when such calamities are expected to grow in force and frequency. About 3.6 million Americans are exposed annually to floods, and that could double by 2050 as the population grows in at-risk places, according to one study last year.
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