re: Warning Signals Are Flashing for Homeowners in Texas and Florida

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Many didn't anticipate mortgage increasing by 50%

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Huh? Most people get fixed rate mortgages over 30 years. The insane increases in taxes and insurance are what is crushing everyone.

Amazing how incompetent Congress is.

All hazards insurance, with a federal backstop for natural disasters, would fix it. Just use the same money we already spend after a disaster. Between wildfires, earthquakes, tornadoes, hurricanes, and floods, we have enough of the country at risk to get it passed.

Live in Denton County TX, had a 40% increase in homeowners. If I wanted to keep a 1% deductible and not go to 3% that was the best they could offer. I have an independent that shops ins co every year and it's crazy. With the bad storms this spring it will probably go up again. Many ins firms are not writing new policies.

I can't believe how people afford the HOA's on the condos all over the nation, gulf coast and places like Las Vegas are insane.
When does it crash we will find out...I live in an area that probably won't see the distress selling but a slow down in the increase housing prices is needed.

Gotta self insure if ya can

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local property tax bill in Texas for single-family residences had climbed $1,015 by 2023

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Ours went down $2,000 last year thanks to a new bill passed by Abbot and we live in the galleria area just west of downtown Houston.

Insurance ? Yea everyones has gone up.

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TOPAL
Live in Denton County TX, had a 40% increase in homeowners. If I wanted to keep a 1% deductible and not go to 3% that was the best they could offer. I have an independent that shops ins co every year and it's crazy. With the bad storms this spring it will probably go up again. Many ins firms are not writing new policies.

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Also live in Denton County, right on the Denton/Collin county line. The jump over the last two years has been crazy. First time homeowners who might be able to afford a house won’t be able to afford to insure it anyway.

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It was a very very large part of it. Predatory lending was unchecked. Tons of sub-prime lending and giving those people variable rate mortgages. All in the name of everyone's "right" to own a home.

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All democratic policies I might add. This all started under Clinton.,

Much like the Feds underwrite and subsidize the National Flood Insurance Program, if you want lower home insurance prices the Feds need to also offer Named Storm and/or un-named wind hail policies.

This would take these risks out of the private market. Or it would create competition between the Feds’ program and those private carriers that want to offer Named Storm/ un-named wind-hail coverage as part of their policies.


This truly could happen if the gov’t altered its priorities of taking care of every other nation but the one it’s actually tasked to work for.