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> are required to price externalities wait until the property owners there start demanding socialized property insurance!
by chii 2y ago
> are required to price externalities
wait until the property owners there start demanding socialized property insurance!
- tptacek 2y agoThey already are, but that's kind of besides my point. I don't doubt that California can throw billions of dollars at subsidizing housing built on parcels so dangerous no insurer can underwrite there. I don't live or die based on whether people can afford to live in Pacific Palisades. But it's somehow sanity-preserving for me to watch insurers exit markets (or drastically increase rates). At least one party to this system has to acknowledge reality, and no organizing or speechifying gets you around it.