3 ms·
It will bring home ownership costs way up as it has in Florida. It would also allow corporations who can self-insure to have a leveraged capital advantage to bu
by dv_dt 2y ago
It will bring home ownership costs way up as it has in Florida. It would also allow corporations who can self-insure to have a leveraged capital advantage to buying up homes - which doesn't help individual people who want to own homes.
The pressures of climate change disasters is a increasing bar of costs everywhere, home insurance is one of the first very visible places that is a predictor. We're going to have to figure out if we're ok with privitized fossil fuel profits with companies paying little to no taxes, while the costs land in very concrete ways on individual and gov't budgets.
- deleted 2y ago[deleted]
- whimsicalism 2y agoThey won’t have a capital advantage when all the homes they just bought up flood and now they’re out tons of money because they mispriced the insurance risk and self-insured.
- dv_dt 2y agoThe cap advantage is multiple - that a banks will lend them more, there is no insurance company profit margin, they can rebuild faster w/o that same insurance company approval red tape. With renters they can price up faster than individual incomes grow. But note that none of this fixes the core fossil fuel driver to the costs.