Will Miami survive? the dynamic interplay between floods and finance /
This SpringerBrief uses a complexity perspective to integrate risk, finance, and ecological issues in Miami, USA. It focuses on how the modern financial system, particularly the mortgage market, perceives and manages the risk of climate change. Authors Kathleen Sealey, Ray King Burch and P.-M. Binde...
| Main Author: | Sealey, Kathleen Sullivan, |
|---|---|
| Other Authors: | Burch, Ray King, 1950-, Binder, P.-M., SpringerLink (Online service) |
| Format: | eBook |
| Language: | English |
| Published: |
Cham, Switzerland :
Springer,
2018.
|
| Physical Description: |
1 online resource (xiv, 75 pages) : illustrations (some color). |
| Series: |
SpringerBriefs in geography.
|
| Subjects: |
| Summary: |
This SpringerBrief uses a complexity perspective to integrate risk, finance, and ecological issues in Miami, USA. It focuses on how the modern financial system, particularly the mortgage market, perceives and manages the risk of climate change. Authors Kathleen Sealey, Ray King Burch and P.-M. Binder offer the case study of South Florida to illustrate how landscapes can be either re-purposed to function ecologically when residents relocate or rebuilt to reduce the threat of future flooding, the tools needed to make these decisions, and how financial systems view and influence them. While the need to integrate financial markets into coastal (and environmental) management is increasingly recognized, the difficulty of this task is made greater by the speed of financial innovation and the obscurity and complexity of its practices. This book will discuss the innovative Southeast Florida Regional Climate Compact, and the success of public-private partnerships in planning and adapting to sea level rise, but also the broad disconnect with the cash-and-credit-driven real estate market of South Florida. The book presents an interdisciplinary approach to the understanding of the coupled human (including finance) and natural systems in coastal cities, thus breaking new ground in the approach towards sustainability research and education. The final chapter introduces the social component of resilience which include pre-disaster outreach with and the potential for decision theory to help people understand and manage risk. |
|---|---|
| Item Description: |
Includes bibliographical references. Intro; Foreword; Preface; Why Write This Book?; Who Is Surviving Miami For?; Contents; List of Abbreviations and Acronyms; Chapter 1: What Is Happening in Miami?; 1.1 Chapter Overview; 1.2 Has Miami Always Flooded? Flooding Events in the Twentieth Century; 1.3 Hurricane Andrew and Flooding Since 1992; 1.4 Flooding Since 2000 and Future Flood Risks: The Southeast Florida Climate Compact; 1.5 The "Wicked Problem" of Sea Level Rise and Greater Miami; References; Chapter 2: Financial Drivers and Urban Coastal Development in Miami, Florida; 2.1 Chapter Overview. 2.2 Financial Drivers of Urban Land Development2.3 Miami's Residential Real Estate Market Since 1960; 2.3.1 Residential Development From 1960-1969; 2.3.2 Residential Development From 1970-1979; 2.3.3 Residential Development From 1980-1989; 2.3.4 Residential Development From 1990-1999; 2.3.5 Residential Development From 2000-2009; 2.4 Miami's Commercial Real Estate Market Since 1960; 2.5 Development Planning, Beach Re-Nourishment, Everglades Restoration and Modern Finance; 2.6 The 2008 Financial Crisis; 2.7 Financial Drivers of Miami's Real Estate Market Today; References. Chapter 3: Paradise Lost: Environmental Change and Ecological Impacts3.1 Chapter Overview; 3.2 Ecosystem Services and Valuation of South Florida Ecology; 3.3 Comprehensive Everglades Restoration Project: Conflict of Flooding vs. Fresh Water Resources Protection; 3.4 Risk to and Valuation of Built and Natural Environments; References; Chapter 4: Relocate Verses Rebuild Decisions: Understanding the Importance of Coupled Systems; 4.1 Chapter Overview; 4.2 Decision Theory and Flooding Disasters; 4.3 The Increasing Scale of Natural Hazard Financial Risk. 4.4 Public and Private Holders of Natural Hazard Financial Risk: Sources of Recovery Funding4.5 Risk Awareness in the Financial System: Review of the 2008 Finance-Insurance-Real Estate Crisis; 4.6 Synopsis of the Mortgage Business: The Market for Securitized Mortgages and Other Bonds; 4.7 Relying on Fannie Mae, Freddie Mac, and Ginnie Mae; 4.8 State and Local Government Sources of Hazard Recovery and Rebuild-Relocate Financing; 4.9 Overview of the Property Hazard Insurance Business; 4.10 Relying on the Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP). 4.11 Credit (Debt) Growth in the U.S. Economy and the Ability to Recover After Disaster4.12 State and Local Sources of Funds for Hazard Recovery, Sea Level Rise, Nuisance Flooding, and Property Insurance; 4.13 Connecting the Environmental and Finance Issues: Sea Level Rise, Rolling Easements, Pumping Pollution, and Aggregate Mining; References. This SpringerBrief uses a complexity perspective to integrate risk, finance, and ecological issues in Miami, USA. It focuses on how the modern financial system, particularly the mortgage market, perceives and manages the risk of climate change. Authors Kathleen Sealey, Ray King Burch and P.-M. Binder offer the case study of South Florida to illustrate how landscapes can be either re-purposed to function ecologically when residents relocate or rebuilt to reduce the threat of future flooding, the tools needed to make these decisions, and how financial systems view and influence them. While the need to integrate financial markets into coastal (and environmental) management is increasingly recognized, the difficulty of this task is made greater by the speed of financial innovation and the obscurity and complexity of its practices. This book will discuss the innovative Southeast Florida Regional Climate Compact, and the success of public-private partnerships in planning and adapting to sea level rise, but also the broad disconnect with the cash-and-credit-driven real estate market of South Florida. The book presents an interdisciplinary approach to the understanding of the coupled human (including finance) and natural systems in coastal cities, thus breaking new ground in the approach towards sustainability research and education. The final chapter introduces the social component of resilience which include pre-disaster outreach with and the potential for decision theory to help people understand and manage risk. |
| Physical Description: |
1 online resource (xiv, 75 pages) : illustrations (some color). |
| Bibliography: |
Includes bibliographical references. |
| ISBN: |
9783319790206 331979020X |
| ISSN: |
2211-4165. |