Long term risks of buying in Alameda?
We have been saving every penny we can for over 10 years to buy a home and are finally in the position to do so. Although the market remains horrible, we are paying so much in rent that at some point it just makes sense to leap in, so long as we find a place we can stay in for the very long term. We are increasingly feeling drawn to Alameda. However, given that buying a house at today's prices is such a massive financial undertaking, and given that this home would be the primary thing we'd leave behind for our kids, we have been thinking and worrying about the long term consequences of buying a house in Alameda. As in: what about the impact of climate change and rising sea levels on that little island city? Doesn't seem that's something that you can insure for in some way, and I'm afraid I lack the confidence that local government is addressing this issue adequately. I know that all over the Bay Area it's a bit of a "pick your poison" situation: wildfires and landslides in the hills, higher incidence of crime in some areas, earthquake risks (not a pro for Alameda there either). Are we being illogically risk averse? Are there specific locations in Alameda (or the greater East Bay for that matter) that we should be considering as a "safer" place to park so much of our life savings? Thanks for any feedback.