As increasingly severe natural disasters ravage the South, insurance companies are abandoning clients, increasing premiums, and fighting regulation measures — forcing homeowners to fend for themselves in the wake of destruction.
Clearly the market is telling you it’s time to leave that area. I would not move into an area if they would not ensure me in the area and if I lived there before I would be moving out.
That becomes difficult when their homes are now uninsurable. If they can’t find a sucker buyer to take it off their hands for enough that they can afford one elsewhere, they’re stuck. The govt absolutely needs to step in. If only to save money on disaster relief efforts in future.
I agree that the government ought to step in and just buy the house from them so that they can move to somewhere they’re not going to be flooded all the damn time.
Edit: As you mentioned above, if they bought it, they could knock it down to save on disaster relief later.
Clearly the market is telling you it’s time to leave that area. I would not move into an area if they would not ensure me in the area and if I lived there before I would be moving out.
That becomes difficult when their homes are now uninsurable. If they can’t find a
suckerbuyer to take it off their hands for enough that they can afford one elsewhere, they’re stuck. The govt absolutely needs to step in. If only to save money on disaster relief efforts in future.I agree that the government ought to step in and just buy the house from them so that they can move to somewhere they’re not going to be flooded all the damn time.
Edit: As you mentioned above, if they bought it, they could knock it down to save on disaster relief later.