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Re: democratic response to florida insurance crisis
Old 07-10-2006, 10:06 PM   #21
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Re: democratic response to florida insurance crisis

lg4nBum, looks like the word is out. CNN. com says the sun may be setting on the Sunshine State.

Rethinking Florida: Hurricane-related costs are detracting from the allure of the Sunshine State

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Re: democratic response to florida insurance crisis
Old 07-11-2006, 03:06 PM   #22
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Re: democratic response to florida insurance crisis

yeah yeah yeah, we're all putting for sale signs up and packing our bags.

actually i am seeing some more signs up. the guy across the street from me just tore off his garage and is adding some bedrooms and bathrooms. he expects to sell upon completion for about a mil. the house on the corner just went up for sale for $650k. the owner's are citing insurance costs. they sold their key west house and bought this one a few years ago so i think they are just cashing out again and blaming costs.

the neighbor next to him is also now blaming insurance costs and says if he gets this job in las vegas that he'll put his house up for sale and wants 1/2 mil. though i recall he's been trying to move to las vegas for about 3 or 4 years now, before insurance cost was an issue.

two other lots on my block are for sale, a teardown and an empty lot, both owned by the church on the next street and neither of which has been offered for sale likely in 30 years.

so all the signs don't look good, but sometimes you have to read the fine print. a few blocks to the south of me there are six 1 million dollar houses going up, all have realtor signs on them but four recently added "sold" to the sign. the same developer is putting in another 5 or 6 houses just a few blocks north of me.

no doubt those who did funky financing are gonna be in trouble. but it's not like every house in south florida changed hands over the last 5 years. most of my neighbors are all the same people who have been here for 10 years or more.

florida really does need to address insurance here though. speaking as a socialist, i say we tell all the insurance companies to get the hell out of florida and lets just self-insure through premiums & taxes. if we get a disaster, the public company might go into the red and then after a few months of collecting more premiums it'll be right back in the black again. we should self-insure for auto insurance too. why give that money away?

and while we're at it. i think this year we'll have the bermuda high set itself up so that all the hurricanes hit the carolinas this year instead of florida. then lets see who's talking.
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Re: democratic response to florida insurance crisis
Old 07-11-2006, 03:23 PM   #23
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Re: democratic response to florida insurance crisis

Around here the beachfront is getting hit heavily with increased insurance bumps, and their market values are dropping considerably.

Interestingly, in the "real" neighborhoods (meaning where nontourists, retired long-time Floridians, and working folks live), housing prices are only sagging a bit, while premiums are up but usually not by show-stopper amounts.

My DW the realtor actually prefers a market where prices are sane, and neither seller nor buyer are at too much of an advantage. She says people then tend to bargain in good faith, fewer lawsuits from angry buyers, and prices tend to be more proportional to the true value of the property.

For all that, there are condos going up like weeds everywhere from downtown to the shore.
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Re: democratic response to florida insurance crisis
Old 07-11-2006, 03:36 PM   #24
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Re: democratic response to florida insurance crisis

Quote:
Originally Posted by lazygood4nothinbum
and while we're at it. i think this year we'll have the bermuda high set itself up so that all the hurricanes hit the carolinas this year instead of florida. then lets see who's talking.
Why you want to send trouble my way?
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Re: democratic response to florida insurance crisis
Old 07-11-2006, 03:50 PM   #25
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Re: democratic response to florida insurance crisis

Quote:
Originally Posted by justin
Why you want to send trouble my way?* *
well of course not, i'm just wishing them away from here and, well, i guess they're gonna go somewhere. though i have been considering a summer mountain home and i wouldn't mind doing some bargain shopping. :P
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