• NextMetropolis
  • Posts
  • Real Estate Climate Denial, the World's Leader in EV Adoption, Mega-Hospitals, and Supersonic Revival in the U.S.

Real Estate Climate Denial, the World's Leader in EV Adoption, Mega-Hospitals, and Supersonic Revival in the U.S.

Author

Editorial Staff
June 09, 2025

 

Explore the latest news and trends writing the next chapter in urban development and city life.

Worth Watching

Flooding in Brickell, the financial center of Miami.

Understanding the Resilient Climate Denial Bubble in Real Estate

Despite increasing climate risks, real estate prices in many coastal cities continue to rise—a phenomenon attributed to the climate denial bubble. This term refers to the market’s failure to fully account for environmental threats, resulting in inflated property values even in areas facing escalating risks from flooding, sea-level rise, and extreme weather.

South Florida real estate, for instance, has been remarkably robust. Over the past decade, Miami-Dade County's median single-family home prices have surged by 150%. Similarly, Cape Town's property prices have appreciated 140% since 2010, the highest increase among South African metros. In Scotland, coastal towns have seen house prices rise 25% over five years, significantly outperforming the UK average. Even in Venice—long known for flooding—residential property prices have shown surprising resilience.

A 2023 study in Nature Climate Change estimated that U.S. properties are overvalued by $121 to $237 billion when accounting for actual flood risk. Yet the climate denial bubble remains intact. Why hasn’t it popped? A mix of economic pressures and psychological factors continues to keep it inflated. In many coastal cities, rents remain high—even in areas with frequent flooding—because housing shortages keep demand strong. For many buyers, especially those relocating from inland areas, flood risk isn’t a dealbreaker. Some are seeking short- to mid-term gains and don’t expect to own the property long enough to face the worst impacts.

Additionally, government-subsidized insurance programs, such as the National Flood Insurance Program in the USA, have long underpriced climate risk. By shielding buyers from the true cost of living in flood-prone zones, these policies help keep property values artificially high.

Real estate markets are slow to react to long-term threats. Homes are durable assets, and price corrections tend to lag behind emerging environmental risks. The idea of neighborhoods being dramatically swallowed by the sea still feels far off to most buyers—particularly when immediate needs like affordability and location take precedence.

Still, along the bleeding edge of rising oceans, cracks are forming. Homes just months from being overtaken by the ocean in places like Nantucket, the Outer Banks in North Carolina, and the Holderness Coast in England have seen steep price drops. In Nantucket—often dubbed "Billionaires' Isle"—homes in areas like Sheep Pond Road that were once valued at nearly $2 million have sold for as little as $200,000. Yet even there, the broader market remains strong, with median listing prices still among the highest in the country.

This Nation Outpaces the World in EV Adoption

No country comes close to achieving what Norway has done: nearly all new cars sold are electric. In 2024, 90% of new passenger cars sold in the country were fully electric, and in May, electric vehicles (EVs) accounted for 97% of new car sales. For comparison, EVs account for approximately 10% of new auto sales in the U.S.

Norway’s high rate of EV adoption is primarily the result of sustained government incentives that have dramatically lowered the cost of EVs. The Norwegian government made EVs exempt from the 25% value-added tax, as well as from import and registration taxes — shaving thousands of dollars off sticker prices. Over time, as EVs became more popular, the government gradually reduced some of these benefits, such as exemptions from road tolls and city parking fees, but kept enough financial advantages in place to make EVs a more affordable choice than gas-powered cars. The state estimates it will forgo about $60 billion in vehicle-related taxes from 2007 to 2025 due to these policies.

Another major factor behind Norway’s EV success is the country’s robust charging infrastructure. With nearly 10,000 fast chargers spread across more than 1,600 locations, drivers are rarely far from a charging point. Most people charge their vehicles at home, and legislation ensures that apartment dwellers have a “right to charge.” Public fast chargers are located an average of 70 km (45 miles) apart in the north, well ahead of EU targets, and the network is powered almost entirely by renewables.

Norway’s EV success was enabled by its vast oil wealth, making its path to adoption difficult to replicate. However, as EV prices continue to fall globally, governments can shift focus from heavy subsidies toward infrastructure. Researchers suggest countries can accelerate adoption by investing in charging networks and offering targeted incentives, rather than mirroring Norway’s ample tax exemptions.

The Rise of Mega-Hospitals: Health Infrastructure for a New Era

Across the globe, countries are investing in mega-hospital projects—massive, integrated health campuses built to address rising patient demand, aging populations, and increasing urbanization. These new hospitals follow common strategies: unifying specialty services, prioritizing digital and smart infrastructure, and integrating research, education, and clinical care into a single ecosystem. Here are four notable examples:

Harry Hines Boulevard Pediatric Health Campus (Dallas, USA) — The $5 billion Harry Hines Boulevard Pediatric Health Campus is one of the largest children’s hospital developments in U.S. history. Spanning 33.7 acres, the site will feature more than 4.7 million square feet of healthcare space, including a 552-bed inpatient hospital, a 96-room outpatient specialty clinic, a Level I trauma center, two helipads, and a 96-bed Level IV NICU. Construction began in late 2024, with full completion expected by 2031.

Beijing BOE Hospital — Construction began last year on the Beijing BOE Hospital in Fangshan District, a facility that integrates advanced medical care with biotech research and development. The first phase covers 220,000 square meters and will include 1,000 beds, along with emergency, inpatient, outpatient, rehabilitation, and research services. As part of a larger life sciences and technology cluster, the hospital is designed as a "smart health" facility, leveraging AI, big data, and IoT technologies. Completion is expected in 2026.

Eastern General Hospital & Community Hospital (Singapore) — The new Eastern General Hospital & Community Hospital in Bedok North, Singapore, is a 1,400‑bed, digitally enhanced healthcare development that’s set to open progressively between 2029 and 2030. Strategically located next to Bedok North MRT station, the campus is designed with “phygital” capabilities—blending physical infrastructure with telehealth, AI, digital twin tech and pandemic-responsive modular wards.

New Children’s Hospital (Dublin, Ireland) — Ireland’s most ambitious healthcare infrastructure project, the New Children’s Hospital in Dublin, is a €2.24 billion investment consolidating three pediatric institutions into a single national center. Situated on the campus of St. James’s Hospital, it will include 300 single inpatient rooms, 60 critical-care beds, 93 day beds, 22 operating theatres, and a dedicated mental health unit. It will also feature over 110 outpatient consulting rooms and advanced imaging facilities. The facility is slated to open in mid-2026.

U.S. Executive Orders Boost Supersonic Flight, Drone Defense


President Trump has signed two landmark executive orders aimed at bolstering U.S. leadership in advanced aviation technologies—one focused on commercial supersonic flight and the other on national drone defense. The measures are intended to boost American innovation, reduce regulatory friction, and reinforce national airspace sovereignty.

The first order aims to revive commercial supersonic flight by directing the FAA to lift the 52-year ban on supersonic travel over U.S. land, originally enacted in 1973 due to concerns over sonic boom noise. In its place, the FAA will develop new noise-based certification standards that permit supersonic flights as long as they do not produce audible booms at ground level. The order supports innovation in high-speed aerospace, notably backing companies like Boom Supersonic, whose XB-1 demonstrator has already exceeded Mach 1 over the continental United States. It also calls on NASA, the Department of Transportation, and private firms, such as Lockheed Martin, to collaborate on advancing noise reduction, improving emissions standards, and strengthening U.S. competitiveness in the global aerospace sector.

The second order focuses on strengthening America's defenses against drones. The order directs the FAA to restrict drone flights over critical infrastructure and requires flight restriction data to be made available in formats compatible with drone geofencing systems. It authorizes civil and criminal penalties for violations and provides grants to state, local, and tribal agencies to acquire drone detection technology. Federal agencies are also directed to use existing authorities to track and identify drones, while issuing guidance for infrastructure operators to integrate detection tools.

Big Deals

Extra Reads