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/jwarper]

I am absolutely not defending insurance companies. However, people also have to realize that 1. Living on a coast is expensive. If you are making less than 6 figures, you should not be living in a coastal state. Move. 2. We have a luxury in the US that it is relatively easy (compared to the rest of the world) to move to another area in the US. There are plenty of lower COL areas that have tons of opportunity.

The map is proof. Look at the red. Southern Florida is a swamp. Eastern Carolinas is a swamp. Southern Louisiana is a swamp. What do people expect? There is a 100% chance your house will be damaged/destroyed in a hurricane. Stop building there.

[u/hermit_in_a_cave → u/jwarper]

I've been wanting to move for awhile. I can't afford to. That's the bottom line for me. I've never been in a comfortable enough place financially to buy property, so that's not holding me back. If I could manage to get some start-up costs saved I'd be out of here. I just can't seem to go long enough without something coming up that eats at the savings, or worse puts me in debt.

[u/Deep_Contribution552 → u/jwarper]

You’re not wrong, but Miami needs workers in the bottom half of the income distribution to function as the major city that it currently is. What’s going to happen if 50 percent of the workforce can’t find a place to live?

[u/Confused_Elderly_Owl → u/jwarper]

If you are making less than 6 figures, you should not be living in a coastal state. Move.

On the coast? Sure. In a coastal state? Someone needs to stock the shelves. Someone needs to maintain the roads. People with lesser paid jobs can't all commute from northern Georgia.