- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- 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: Powell says homes in some areas may not be able to get insurance
Posted on 2/12/25 at 6:45 am to bigjoe1
Posted on 2/12/25 at 6:45 am to bigjoe1
quote:
but, what is the catalyst for something like that?
Ignoring all of the market forces that are signalling this needs to happen, we can just look at the title of OP:
quote:
homes in some areas may not be able to get insurance
I think that is going to negatively affect values, just a bit.
0
Posted on 2/12/25 at 6:58 am to JohnnyKilroy
quote:
Talk to your CRE friends about their 50 year investment outlook along the coasts.
It ain't pretty
Yeah thats why Miami is exploding with developments along the coast especially Brickell
They are certainly scared of the sea levels rising. Its funny that ppl dont think the Banks will just force place insurance like they do now. They will create there own policies like Telsa does if they have to
Posted on 2/12/25 at 8:39 am to Hateradedrink
quote:
Would you lend 400k to someone with 300k liability if a hurricane blows it apart?
This is ignorantly moving the goal posts. Lets take your 400k which would be 80% of $500k purchase, now you are talking a $300k liability which would be a 60% deductible on the full cost of the property. Which doesn't happen, because the land has value also.
The main issue here is that owners don't want any liability, its rather ridiculous. Most people have a 2-5% deductible, 10% deductibles are very uncommon right? Why can't we talk about deductibles in the 10-20% range and have the federal government back storm victims up with low interest loans to cover that deductible?
10% deductible is a $50,000 deductible cost on a $500k home. This is true insurance, covering something you truly can't afford.
When we have the majority of people with a 2% deducible that's $10k on a $500k home that is a major risk factor for the insurance companies.
This post was edited on 2/12/25 at 8:42 am
Posted on 2/12/25 at 9:38 am to BottomlandBrew
quote:
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.
Those people post on the Political Talk board. 100% sure.
Posted on 2/12/25 at 10:14 am to dagrippa
I don't understand why they don't just rezone or prevent people from rebuilding when in a zone that just experienced massive total losses and where it's likely to happen again. It would be one way to start to shift things to safer ground with minimal pain/loss to the homeowner.
Posted on 2/12/25 at 11:11 am to SlowFlowPro
Inventory is still way low for this to happen. Even though we are starting to see inventory rise it’s still 50% down from its average. And folks won’t be in a hurry to move due to insurance costs, where will they go? Renting is not any better. IMO you’ll see restaurants/vacation rentals tanking before the housing market.
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News