We may not have reached "peak sand" yet, but we have reached "peak beaches." Taxpayers are propping up wildly inflated coastal property values. At some point, we’ll stop doing that, and coastal property values will crash.
Gov. Rick Scott (R-FL) barred state officials from using the term “climate change.” making Florida the butt of countless jokes. But the joke is on all of us: There's now a trillion-dollar real-estate bubble in coastal property. When it bursts, U.S. taxpayers -- all of us -- will have to pay.