tag:blogger.com,1999:blog-32931256.post2452500908521107655..comments2024-03-22T05:20:44.167-07:00Comments on The Disaffected Lib: American Home Construction Booms In Flood ZonesThe Mound of Soundhttp://www.blogger.com/profile/09023839743772372922noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-32931256.post-35289090154230085292019-09-20T04:45:05.976-07:002019-09-20T04:45:05.976-07:00Thank you for sharing informative blog. You provid...Thank you for sharing informative blog. You provide home at affordable price. If you want to buy A Home ca then visit our site <a href="https://bisoncustomhomes.ca/" rel="nofollow"> Bison custom homes </a>Alice Goddardhttps://www.blogger.com/profile/08722662045629835516noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-11907374983533026062019-09-11T02:16:09.091-07:002019-09-11T02:16:09.091-07:00Thanks for sharing wonderful information about Hom...Thanks for sharing wonderful information about Home Construction, <a href="https://bisoncustomhomes.ca" rel="nofollow"> Bison Custom Homes</a>Helenhttps://www.blogger.com/profile/13605660936387446087noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-85271823578128839742019-08-01T09:53:16.339-07:002019-08-01T09:53:16.339-07:00Mac, Munich Re, one of the biggest re-insurers, re...<br />Mac, Munich Re, one of the biggest re-insurers, recently warned that home insurance will soon become unaffordable for some. <br /><br />They're in the insurance business. It's how they earn revenue. Gouge on premiums you'll sell fewer policies and revenues will drop off precipitously. Theirs is an actuarial game. They have to keep prices where they can maximize revenue. Those premiums, however, must be sufficient to cover losses and leave enough for a profit.<br /><br />They can't cut the customer's throat without cutting their own. However there's an alternative. In the States when storm/flood insurance premiums became prohibitive, Congress stepped in. Insurance coverage was to be had from FEMA. These free-enterprise Republicans set it up so that their voting base could have insurance at well below cost. Did someone say "government subsidies"?<br /><br />As the FEMA programme ran dry an effort was made to put it on a break-even footing but that sparked a furor. Fair market premiums on damage-prone properties would skyrocket. One realtor with a family home on one of the Carolinas' barrier islands was looking at a premium bump of $1500 per month. That immediately punched a hole in the resale value of the property and narrowed the market to those who could pay all cash. Those who might require mortgage financing were all but excluded.<br /><br /><br /><br />https://the-mound-of-sound.blogspot.com/2019/03/climate-change-going-to-start-hitting.html<br /><br />https://the-mound-of-sound.blogspot.com/2019/06/pricing-carbon.html<br />The Mound of Soundhttps://www.blogger.com/profile/09023839743772372922noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-27412204120023824802019-08-01T05:08:47.346-07:002019-08-01T05:08:47.346-07:00“Homeowners will face rising insurance premiums” F...“Homeowners will face rising insurance premiums” Flood insurance premiums are going to skyrocket” I find those statements very interesting, given my recent experience For some years now, my home insurance premiums have been rising steadily at around ten percent per year. Question them and the answer is the same; claims are up significantly so premiums must rise for them to stay solvent. (BTW, these increases started right after Calgary was flooded a few years ago) Secondly, where I live in SW Ontario, in an area NOT prone to flooding, “overland water damage” insurance is simply NOT available from ANY insurer. Also, very high deductibles for ANY water damage, such as burst pipe or other similar cause, are now standard procedure. <br />So I do find it interesting that properties in flood prone areas are still insurable. They are fortunate indeed some insurance companies will assume the risk and will insure their properties, never mind the cost of premiums.<br />Will fire protection ultimately follow the same course in susceptible forest fire areas? MacAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-32931256.post-46645535842096127852019-07-31T16:15:12.303-07:002019-07-31T16:15:12.303-07:00I'm sure it will work itself out. Just not in ...I'm sure it will work itself out. Just not in an non-catastrophic way.Stuhttps://www.blogger.com/profile/15000770970458611861noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-13401131598831700232019-07-31T15:31:54.760-07:002019-07-31T15:31:54.760-07:00
In my coastal town, Stu, the municipality has alr...<br />In my coastal town, Stu, the municipality has already cracked down on a low-lying area of really nice houses built in the 60s and 70s. You can no longer obtain building permits, not even for a garden shed. If your house is destroyed it cannot be replaced. That makes these properties unsellable. What possible value do they have? Who would buy them? How would potential buyers get mortgage financing?<br /><br />The town engineer told me that the muni would be liable for any new construction because it knows that sea level rise, coupled with spring melt and storm surge, can already cause severe flooding.<br /><br />In the States, different levels of government have different and conflicting interests and concerns. The state and federal governments churn out money for disaster relief but the municipalities want the property tax revenue from reconstruction.The Mound of Soundhttps://www.blogger.com/profile/09023839743772372922noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-63791447485933107582019-07-31T15:07:38.952-07:002019-07-31T15:07:38.952-07:00They are very smart people.They are very smart people.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32931256.post-23508654613543275122019-07-31T14:35:53.651-07:002019-07-31T14:35:53.651-07:00Insane, though sadly predictable. I wonder if the ...Insane, though sadly predictable. I wonder if the feds could just declare these flood zones to be abandoned, and no aid will be provided in any way. No sandbags. No cleanup. No fixing infrastructure. No attempts to restore power. And no buying up these properties. Declare their value to be less than nothing. Stuhttps://www.blogger.com/profile/15000770970458611861noreply@blogger.com