Glyn MoodyFlorida rocked by home insurance crisis: ‘I may have to sell up and move’ - https://www.theguardian.com/us-news/2023/jul/15/florida-hurricane-insurance-crisis-climate some Floridians may not think the #ClimateCrisis is happening, but all the insurers do....
limbodog@glynmoody Where's that video with the guy breaking through a wall to ask "Sell to who??"
Old Fucking Punk@glynmoody how long until non-hurricane related flood insurance is mandatory? (at least for those places < 1m above sea level)
#ClimateChange
#ClimateChange
@lwriemen seems likely...
Ed Cashin@glynmoody Could this trend in California and Florida possibly benefit low-income people? Rich people tend to need financing to support the expensive buildings that banks require when financing construction on desirable lots.
If insurance isn't practical, financing won't be practical, lowering demand for expensive buildings, and then maybe it will be possible for middle-income people to use cash to build cheap but safe housing on desirable lots?
If insurance isn't practical, financing won't be practical, lowering demand for expensive buildings, and then maybe it will be possible for middle-income people to use cash to build cheap but safe housing on desirable lots?
@glynmoody The low-income people would only benefit if single-family zoning was rescinded. Then multiple families could share housing built by middle-income people.
In case of hurricanes, etc., the housing would need to be rebuilt. I have no idea how that would work if the middle-income builders were renting to low-income families.
It does seem like this market disruption could be an opportunity for change, though.
In case of hurricanes, etc., the housing would need to be rebuilt. I have no idea how that would work if the middle-income builders were renting to low-income families.
It does seem like this market disruption could be an opportunity for change, though.
@edtyping frankly, I think that large swathes of florida and elsewhere will simply be uninhabitable...
@edtyping but won't the rich just take all the high ground, leaving the uninsurable low ground for the rest? rich houses will be insurable, poor ones won't....
@glynmoody Yes. Maybe the biggest flaw in my attempt at optimism is that the coasts will be more and more dangerous as a place to live, and even if low-income people found housing there, and even if there was publicly funded fast evacuation, the disruption to the coastal families would be significant from disasters.
@edtyping I fear so