In today's world, it is almost impossible not to think about the possibility of a nuclear war. Most of us probably equate such a devastation with the end. The end of the humanity as we know it. But, according to experts, many people will survive. Along with these “lucky” survivors, many properties will also survive the boom. The value of the right property, in the right location could become…let’s just say, “atomic”.
When I imagine a post-nuclear war life, visions of Mad Max and Waterworld dance through my head. Nothing but mud and chaos, minus the hunky movie stars of course. Well, according to researchers and smarty-pants alike, I may be wrong. Yes, of course the world will drastically change. But, not entirely as you would imagine. The real estate market will still function off of supply and demand. According to a published report titled The Effects of Nuclear War,70-80 percent of the population within a specific area would keep on kicking. But, the majority of properties would be destroyed. So, there will be more survivors than properties available. The report actually claims that between 46 and 64 percent of property values would survive a nuclear blast. Less supply, more demand. What’s that create? Higher property values.
Of course there are some factors that will affect the valuation of remaining properties once the dust settles. People will shift their wants and needs a bit more after surviving such a crisis. Luxurious amenities, such as theater rooms and tennis courts, increasing property value will be quickly a thing of the past. Types of housing, location and how homes are sold will all change drastically. People will start buying homes with survival in mind. So, you know that weird guy down the street who built half of his house underground? Well, let’s just say, it won’t stay on the post-nuclear war market long. As far as location, country life will be a thing of a past. According to experts, people will need to live close to urban cities in order to stay close to basic needs. Plus, our infrastructure will definitely not be what it used to be.
A nuclear war may never happen and this article may be considered pure fiction down the line. But, it is nice to know that all of that money and time that you have invested in your property may still pay off in the worst of circumstances. As I like to say, the value of real estate is one of those things that can stand the test of time…or in this case…the end of it.
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Emily Benner
Real Estate Expert
First United Realty
470.225.9097
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