- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Will the astronomical rise in homeowners/flood insurance empty out the Southshore?
Posted on 5/22/23 at 2:47 pm to bayoudude
Posted on 5/22/23 at 2:47 pm to bayoudude
I guess in the end, classical economic theory will simply make property values go down to a level such that the net cost (i.e., including insurance) will equal that of a somewhat nearby with normal insurance costs. That said, at some point, folks would need to go to Shreveport or Jackson (MS) to get normal costs (i.e., because at least by then, hurricanes are not destructive).
3
Posted on 5/22/23 at 2:51 pm to swampwiz
quote:
I guess in the end, classical economic theory will simply make property values go down to a level such that the net cost (i.e., including insurance) will equal that of a somewhat nearby with normal insurance costs.
The sellers have not received that information yet, and it seems like the buyers don’t care. Even the rate hikes haven’t cut prices much in the Wild West of BR.
Posted on 5/22/23 at 2:51 pm to swampwiz
it does speak to the fact that large swathes of states like louisiana & florida are simply uninsurable from an objective risk perspective
unpopular opinion: this is the sort of market inefficiency the government should step in to address directly. fema/nfip should disincentivize building in absurdly high-flood hazard regions (or incentivize investment in flood-mitigation infrastructure), but i'm not convinced that's what we're seeing here - especially given the language in op's article about "addressing inequities." state & federal government needs to subsidize flood & homeowners insurance in these markets, at least in locations that aren't inexcusably prone to flooding.
unpopular opinion: this is the sort of market inefficiency the government should step in to address directly. fema/nfip should disincentivize building in absurdly high-flood hazard regions (or incentivize investment in flood-mitigation infrastructure), but i'm not convinced that's what we're seeing here - especially given the language in op's article about "addressing inequities." state & federal government needs to subsidize flood & homeowners insurance in these markets, at least in locations that aren't inexcusably prone to flooding.
Posted on 5/22/23 at 2:53 pm to swampwiz
quote:
That said, at some point, folks would need to go to Shreveport or Jackson (MS) to get normal costs (i.e., because at least by then, hurricanes are not destructive).
I live 200 miles from the coast. Laura put us out of power for 9 days. Almost everyone had roof damage and many homes had trees on or through them.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News