4 ms·
Is it because of lack of insurance that people have this fear? Or that people will have to move away for a couple of years, may not move back, and then sell?
by balderdash 3y ago
Is it because of lack of insurance that people have this fear? Or that people will have to move away for a couple of years, may not move back, and then sell?
- HumblyTossed 3y agoLet's say the house that burned was $500k (i have no idea). Insurance pays out $500k. Now, those people have to live for, what, maybe two three years while their house is rebuilt due to how many are destroyed? They have to use some of that $500k to pay rent some place. Many may not be able to then afford the newly rebuild house which will then get sold off to some off-island investor, because, well, then new house will inevitably be more expensive and they've use some of the payout from their old house.