Coastal property values are already in decline (or at least not rising much relative to other places) and flood insurance costs are increasing, but that's still not stopping people from re-developing South Beach, Myrtle Beach, The Outer Banks, Cape May, Long Island, Cape Cod, etc, much less other coastal areas that aren't as popular like the Delaware Bay and Chesapeake Bay.
Unfortunately it may take another superstorm like Sandy in 2012 for investors and property owners to realize how stupid it is to keep rebuilding increasingly disaster-prone areas. Given the state of the world, it might be best to have that happen this year.
Conversely, I can definitely see property values of homes on/near lakes and/or mountains increasing substantially in the future.