Think Twice Before Investing in These 10 Real Estate Markets Predicted To Become Deserts
Investing in real estate can be one of the best ways to diversify and build wealth, and it's simple enough -- if you can afford it. You just have to buy a property and then make your money back plus a profit by renting it out and generating passive income.
This investment strategy may make sense for you, but if you’re looking to own a real estate investment to pass down to future generations, you need to be sure the region isn’t going to inevitably depreciate as a result of climate change.
Explore Next: 5 States Where a Comfortable Life Is Still Within Reach — and 5 Where It Isn't
For You: 10 Low-Effort Ways To Make Passive Income (You Can Start This Week)
New research from the Open-Earth-Monitor Cyberinfrastructure, published in the journal PeerJ, looked at how natural vegetation zones will shift between 2061 and 2080 as a result of various outcomes of climate change, per Yahoo. The desert biome is forecast to dramatically expand as the planet continues heating up, turning the following major cities into deserts.
Once these cities do become deserts, they may still be livable, but they could become less desirable. Buyers and renters alike will look to beat the heat and secure access to water, which is already close to depleted in some U.S. cities, according to ScienceAlert.
Here are the 10 major U.S. cities forecast to become deserts by 2080, according to Climate Crisis 247’s analysis of the research. MoneyLion plugged median home prices and home value trends using data from Zillow on Sept. 30.
Interestingly, most of these cities have seen a modest increase in home value over the past year. But for how long can the appreciation continue?
1. Richland, Washington
Current population: 60,867
Median home Price: $462,807
Median home value compared to a year ago: Up 0.3%
2. Grand Junction, Colorado
Current population: 65,918
Median home Price: $419,825
Median home value compared to a year ago: Up 1.4%
3. Pasco, Washington
Current population: 77,274
Median home Price: $416,458
Median home value compared to a year ago: Up 0.4%
4. Kennewick, Washington
Current population: 83,823
Median home Price: $427,901
Median home value compared to a year ago: Up 0.5%
5. Rio Rancho, New Mexico
Current population: 104,351
Median home Price: $360,463
Median home value compared to a year ago: Up 0.7%
6. Sparks, Nevada
Current population: 108,025
Median home Price: $534,404
Median home value compared to a year ago: Up 2.4
7. Pueblo, Colorado
Current population: 111,430
Median home Price: $281,571
Median home value compared to a year ago: Down 2.4%
8. Lancaster, California
Current population: 171,465
Median home Price: $460,943
Median home value compared to a year ago: Down 0.7%
9. Reno, Nevada
Current population: 265,196
Median home Price: $571,562
Median home value compared to a year ago: Up 2.0%
10. Bakersfield, California
Current population: 404,321
Median home Price: $385,686
Median home value compared to a year ago: No change
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
More From MoneyLion:
