What are the economic implications of managed retreat?
Managed retreat involves relocating communities away from hazardous areas, which can have significant economic impacts.
Can you explain how it affects property values?
Yes, managed retreat can lead to decreased property values in areas identified for retreat, while potentially increasing values in safer locations.
What about the costs of relocating communities?
Relocating communities can be expensive, involving costs for new infrastructure, housing, and support services, which can strain local budgets.
Are there any long-term economic benefits?
In the long term, managed retreat can reduce disaster recovery costs and promote sustainable development in safer areas.
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