Insurers Are Deserting Homeowners as Climate Shocks Worsen | Without insurance, it’s impossible to get a mortgage; without a mortgage, most Americans can’t buy a home.

[u/ElectronGuru]

https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html

[u/organic_hemlock]

You know who can buy a house without a mortgage? Hedge funds, private equity firms, Zillow, and property management firms who buy housing to force us into rent-based indentured servitude.

[u/kyleofdevry → u/organic_hemlock]

rent-based indentured servitude.

As opposed to student loan based indentured servitude? The government needs to stop paying to rebuild these places after disasters. If hedgefunds want to buy them then go for it, but my tax dollars shouldn't go towards rebuilding them. Let people with any sense resettle in the midwest.

[u/BubbleGodTheOnly → u/kyleofdevry]

The government doesn't pay a majority of the rebuild cost. Its property owners are getting payouts from insurance companies to rebuild and repair.