As a possibility, buying current beach-front property is consistent with believing in global warming if you also believe that it is hard enough to predict where the new beach-front will be that it is cheaper (say, per future-discounted year of residence) to buy property on the current beach and then at the new location of the beach, than it is to buy any combination of properties today.

The inheritance question is actually rather different, as it is about buying beach-front-property-futures in the present.