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Started By
Message
Powell says homes in some areas may not be able to get insurance
Posted on 2/11/25 at 3:19 pm
Posted on 2/11/25 at 3:19 pm
6
Posted on 2/11/25 at 4:32 pm to bigjoe1
Time for those bootstraps
Posted on 2/11/25 at 4:40 pm to bigjoe1
Wouldn't RE taking a 10-20% haircut solve a lot of these issues?
It just seems like this is the solution to so many problems we're facing.
It just seems like this is the solution to so many problems we're facing.
Posted on 2/11/25 at 4:44 pm to bigjoe1
Man, if only someone could have seen this coming. Oh, wait, some people did.
Following Katrina, some of us tried to educate the public on this, but we were labelled communist climate change fraudsters. I remember being in meetings with insurance experts, economists, and politicians where the insurance experts laid all of this out - plain as day. That was almost 20 years ago. It wasn't about climate change or any of that stuff. It was simple economic truth: If we don't do something, then this place will become too expensive for insurance to rebuild.
Following Katrina, some of us tried to educate the public on this, but we were labelled communist climate change fraudsters. I remember being in meetings with insurance experts, economists, and politicians where the insurance experts laid all of this out - plain as day. That was almost 20 years ago. It wasn't about climate change or any of that stuff. It was simple economic truth: If we don't do something, then this place will become too expensive for insurance to rebuild.
Posted on 2/11/25 at 4:49 pm to BottomlandBrew
Woke deep state cuck.
pays 5k insurance bill
pays 5k insurance bill
Posted on 2/11/25 at 4:51 pm to bigjoe1
Im 20yrs you might not be able to get a mortgage in the sticks!
Oh noz
Oh noz
Posted on 2/11/25 at 4:58 pm to SDVTiger
I know, right? Who would want to live in podunk places like Miami, Tampa, Houston, Charleston, Los Angeles, Atlantic City, etc.?
Posted on 2/11/25 at 5:02 pm to bigjoe1
Insurance will have to change IMO. There will be policies with high deductible and coinsurance percentages for specified risks like named storms. People will have to accept that they will bear part of the risk for those things.
Now will lenders go along and loan money on properties with this kind of insurance? I don’t know.
Now will lenders go along and loan money on properties with this kind of insurance? I don’t know.
Posted on 2/11/25 at 5:06 pm to SloaneRanger
Highly doubtful.
Would you lend 400k to someone with 300k liability if a hurricane blows it apart?
It would be more advantageous for the home owner to just walk away from the mortgage.
For the record, I have no problem with insurance companies making a business decision. I’m laughing at the dumbasses who voted for this…..and continue to be in denial so they don’t lose internet cool points.
Would you lend 400k to someone with 300k liability if a hurricane blows it apart?
It would be more advantageous for the home owner to just walk away from the mortgage.
For the record, I have no problem with insurance companies making a business decision. I’m laughing at the dumbasses who voted for this…..and continue to be in denial so they don’t lose internet cool points.
Posted on 2/11/25 at 5:26 pm to BottomlandBrew
Routing the MS river through a levee system that prevents are wetlands from being replenished is not Climate change.
Posted on 2/11/25 at 6:26 pm to BottomlandBrew
quote:
I know, right? Who would want to live in podunk places like Miami, Tampa, Houston, Charleston, Los Angeles, Atlantic City, etc.?
Yeah those areas are certainly the "sticks"
Posted on 2/11/25 at 6:53 pm to SlowFlowPro
quote:
Wouldn't RE taking a 10-20% haircut solve a lot of these issues?
Significant price drops may make the risk more palatable but, what is the catalyst for something like that? You'll need either a lot of new supply or, a hard recession where people lose their homes and I just don't see either of those on the horizon.
So many people have mortgages when rates were on generational lows and they're not giving those up easily. I heard one analyst say the mortgage has people locked in with golden handcuffs.
Posted on 2/11/25 at 7:54 pm to bigjoe1
People hoard houses like they do shares of blue chip companies because there is no universally agreed upon hard money to act as a store of value.
Posted on 2/11/25 at 8:02 pm to tigeralum06
quote:
Routing the MS river through a levee system that prevents are wetlands from being replenished is not Climate change.
I hosted public meetings on parish-wide stormwater management codes and we had people there protesting saying we were globalists pushing UN Agenda #something or other. Wild stuff. Like, y'all, I'm hired by the parish and just here trying to make sure we don't flood from an afternoon thunderstorm. Basic shite like detention ponds, wetland conservation, and pervious paving.
Posted on 2/11/25 at 8:03 pm to beaverfever
Total cost of home ownership will impact home prices.
I feel bad for the air bnb bros.
I feel bad for the air bnb bros.
Posted on 2/11/25 at 8:32 pm to SloaneRanger
quote:
Insurance will have to change IMO. There will be policies with high deductible and coinsurance percentages for specified risks like named storms. People will have to accept that they will bear part of the risk for those things.
That, plus a scheduled payment percentage for roof coverage, would solve a ton of issues, and piss off scrupulous roofers in the process.
Posted on 2/11/25 at 8:33 pm to bigjoe1
Thr rich and developers will own all of the coastal land because they don't need mortgages. Just the way they want it.
Posted on 2/11/25 at 9:05 pm to SDVTiger
quote:
SDVTiger
Talk to your CRE friends about their 50 year investment outlook along the coasts.
It ain't pretty.
Posted on 2/11/25 at 9:08 pm to boogiewoogie1978
quote:
Thr rich and developers will own all of the coastal land because they don't need mortgages. Just the way they want it.
Rich people and developers leverage the frick out of CRE.
Sure they could probably own it outright, but the current business model for a LOT of these people includes significant financing.
Posted on 2/11/25 at 10:03 pm to JohnnyKilroy
It’s mailbox money.
Another reason why they want people to return to office in addition to culture.
CRE prices are driven by occupancy.
Most properties recap every 5/7 years
Another reason why they want people to return to office in addition to culture.
CRE prices are driven by occupancy.
Most properties recap every 5/7 years
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