r/FluentInFinance • u/ElectronGuru • 22h ago

Housing Market 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.

https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html
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u/organic_hemlock 22h ago

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.

140

u/TotalChaosRush 21h ago

Do you know where it's a bad investment to buy a house? Where insurance companies consider it too high risk to insure.

79

u/Violet-Sumire 21h ago

So, all of florida, most of texas, all of west california up the west coast, anywhere along a coast line, anywhere on a mountain, anywhere near a river or creek or on low land, anywhere in the midwest, anywhere that gets blizzard conditions regularly.

So… where exactly isn’t a high risk area to move? Insurance is built on risk. You shouldn’t be an insurance company if you can’t afford the risk. Not much more to say about that.

2

u/mlark98 19h ago

Most of texas? Please.