Why is Balboa Island sinking, but property value is through the roof?

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I’m on vacation and checked out Balboa Island. Local guy told me that it’s sinking, but the housing market there is absolutely insane.

Explaining that it’s originally a sandbar and not built up enough for high tide. A pipe system is being drawn up to help the situation somewhat.

My biggest question… why is the houses there so expensive for an island literally sinking into the ocean. What’s the point?

Edit: didn’t reply to anything. But, I love the optimism. Keep them houses beautiful. I wanna be another tourist getting a Balboa Bar again

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FrugalHippy

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Posted: 1 year ago
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