Thanks to a Harvard professor, we now have a new lexicographic term to throw around in real estate conversations: 'Climate Gentrification.' What the professor means by that is that wealthier home buyers are seeking out higher ground, often in less wealthy neighborhoods, in fear that sea level rise will eventually inundate pricier waterfront properties. CNBC's Diana Olick reports:

The ground-level master suite has a soaking tub that looks out to the ocean, and the bedroom's glass doors allow the owner to roll out of the sheets and onto the yacht. It is listed for sale at $25 million.

Another Miami home sits on a garbage-strewn street in Little Haiti, about five miles inland. Its owner can walk out the front door and see a dead chicken in the street. It is listed for sale at $559,000, but some experts claim it is a better investment than $25 million mansion.

The mansion, while highly desirable and exquisitely appointed, is paradise at a price, because rising tides and increasingly extreme storms may already be lowering its value. On the other hand, the home in Little Haiti, which sits on high ground with little risk of flooding, is appreciating at a fast clip. It has nearly doubled in value in just the past two years, according to Zillow.

Rising Risks: Climate gentrification takes hold in Miami from CNBC.

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