real estate in the movies

I just saw the (mostly mediocre) movie Superman Returns, and it actually involves land use issues.

Lex Luthor, the villian, plots to build a new continent using technology from Krypton (Superman's home planet).  His reasoning? The old cliche about how people cannot manufacture any more land, so if he "makes" more land by creating a new continent, people will be flocking to buy his land.

Unfortunately there are a slight implausibility that the movie is too dumb to address:  Luthor says that the erection of his new continent will somehow cause the flooding and destruction of most of North America.  But if most would-be buyers are drowned, doesn't that reduce demand for Luthor's new real estate quite a bit? 

Michael Lewyn