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In this Wednesday, Feb. 4, 2015 photo, beach erosion is seen at a home on Vilano Beach in St. Augustine, Fla. Homes built on strands of white sand in Vilano Beach now teeter precariously as high tidewaters cover their front steps. St. Augustine is one of many chronically flooded communities along Florida’s coast, and officials in these diverse places share a common concern: They’re afraid their buildings and economies will be further inundated by rising seas in just a couple of decades. (AP Photo/John Raoux)

(Bloomberg) – When talking about housing, “underwater” usually means you owe more on a mortgage than the home is actually worth. If climate change continues apace, that term could take on a much more literal meaning. 

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