Oddbean new post about login | logout @3967703f I believe rhe insurance issue will evetually affect all homeowners wherever they ate located. Insurance is a risk business and more companies are not willing to take risks. The consumer is left with the hard choices and will inevitably pay more for whatever housing they choose. Same for medical coverage in the US.
@432f6e91 I agree about home insurance. I also agree with what you're saying about medical insurance. The effects of covid on the populace long term will make their behavior even worse than it is now. We need government healthcare.
@432f6e91 @3967703f There is no way to insure against a sure thing. The companies cannot provide home insurance given the climate crisis. In CA we are offered earthquake insurance. It is expensive. The deductible is enormous. The maximum payout is not much bigger than the deductible. It's such a bad deal because there will be an earthquake sooner or later. With the climate crisis the homes will be wrecked, sooner or later. They cannot offer good policies when it's a sure thing
@904855ee @3967703f How many homeowners researched whether their home was located in a flood zone designation or even knew what that was or the implications?
@432f6e91 @3967703f I think very few. What is a flood zone anyway? When "500 year floods" now happen every few years, most of us are in flood zones. A buyer who signed 30 years ago may have made what was a good decision then but now...
@432f6e91 A whole hell of a lot didn't. @904855ee
@3967703f @432f6e91 I lived in a house 25 years ago that bordered a stream. I used to catch trout and sunfish in the stream. It snowed a foot one day then rained that night. The next morning the stream that could be stepped across in 2 steps was 100 feet across and moving at 20-30 mph. A bit higher and homes would have been lost. That kind of thing is happening all the time now.