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Wake me up when the banks stop giving 30 year loans for coastline property. Who do you trust? Bankers or the "experts".
by pcdoodle 3y ago
Wake me up when the banks stop giving 30 year loans for coastline property.
Who do you trust? Bankers or the "experts".
- data_maan 3y agoGoogle California insurance providers. Anyone else got examples?
- data_maan 3y agoPost your examples here: https://news.ycombinator.com/item?id=36297304 https://news.ycombinator.com/item?id=36297304
- kfrzcode 3y agoWhen the mouths are moving, watch the hands.
- creato 3y agoExpectations of a bailout might mess up this analysis.
- jjoonathan 3y agoExactly. Rich coastal communities are powerful and stand a decent chance of being able to force the rest of us to hold their bags.
- eevo 3y agoMarkets are irrational - yeah I'll trust where the data leads rather than a known overinflated housing market
- jfim 3y agoBankers aren't in the business of underwriting risk, other than credit risk. However, mortgages typically require having property insurance as a condition for issuing the mortgage, so de facto, if the property is uninsurable, the bank isn't issuing a loan. The expert insurance and reinsurance underwriters have started raising rates or exiting some markets altogether, as well.
- uw_rob 3y agoBankers are known to be responsible and have a fantastic history of being responsible with others money. There are no reasons why a collection of individuals would make a bad decision which would impact other people 10, 20, or 30 years in the future for an immediate gain.
- simmerup 3y agohttps://www.ocregister.com/2023/05/26/state-farm-says-no-new-property-insurance-clients-in-california/ https://www.ocregister.com/2023/05/26/state-farm-says-no-new...
- skummetmaelk 3y agoThis is without a doubt the most hilarious take I have ever seen.
- fallingfrog 3y agoI’m guessing this is a satirical question, given the behavior of the banking industry within living memory..
- Koffiepoeder 3y agoIn Belgium, if you buy an appartment at the coastline using a business, the fiscal authorities dispute the tax deductability and depreciation (33y by default) if it is not at least on the second floor.