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Inflation doesn’t account for 5x increase in the last 20 years. Asking questions is good, but some of you should actually make an effort to answer your own que
by steego 3y ago
Inflation doesn’t account for 5x increase in the last 20 years.
Asking questions is good, but some of you should actually make an effort to answer your own questions.
Knowing nothing else, do you have enough common sense to figure out if your pet theory actually makes sense?
Have you simply tried comparing inflation rates with the rates of reported damage?
Seriously, try it. Critical thinking start with your own conjecture.
- the_doctah 3y agoThere are other factors but you seem to be making an emotional argument.
- giraffe_lady 3y agoAre they wrong? You naming rhetorical techniques is certainly not any more sophisticated or useful to the conversation than them deploying them.
- _ea1k 3y ago> I’m sad to see HN members get so attached to easily invalidatable theories so quickly. Have we really lost our critical thinking skills? Yes? But it is hard, because some things do need data, and I honestly don't know where to find that. For example, Florida has a huge insurance and insurability problem. People here Florida and immediately assume hurricanes. But I'm hearing of issues in areas that rarely see a lot of destruction from hurricanes. OTOH, I hear a lot about roof damage from wind and hail lately. And there are more roofers using storm chasers than I've ever seen. Is this a significant factor? Is the data available? I also hear about limits on the ability of insurers to raise rates on existing homeowners. Supposedly this conflicts with rises in property values that are greater than the rate increases. Is that true? I see a lot of conjecture, but little proof.
- steego 3y agoA few prominent stormers really changed the game about 15+ years ago because they were very forward looking when it came to leveraging technology in the industry. APIs provided them with hail data and they used that data to send out targeted mailers before canvassing neighborhoods and capturing the business before their competitors showed up. When they find a lead, they would move quickly to get a 3D model of the home courtesy of a company like Eagleview, which creates models from their arial photo database, which they would then provide to insurance companies with accurate estimates so they could get started quickly. Needless to say, the process has been significantly streamlined to help homeowners deal with claims and get their roofs fixed, mostly to the benefit of the bigger stormers. I can’t provide publicly available data, but when you look at the aftermath of these storms from an arial and satellite imagery perspective, you will see these events have grown in terms of objectively destructive impact. I’m not suggesting there haven’t been dozens of other factors that have inflated the financial impact (codes, costs, appreciation, etc.). My guess is the cumulative impact accounts of these other factors accounts for less than half of the financial impact, but I have honestly not looked at the data.
- mrangle 3y agoReeling from the all-emotional argument that is in defense of logic.
- ryathal 3y agoJust applying an inflation adjustment isn't the whole story though. There's more people and more stuff than 20 years ago. New construction requires higher standards through code enforcement than 20 years ago. Infrastructure costs have ballooned way faster than inflation over 20 years, and repair/replace costs more to remove the broken stuff on top of just construction.
- deleted 3y ago[deleted]