INSURANCE Will DESTROY EVER Getting An Affordable Home

As insurance companies nationwide raise their rates for flood and fire coverage, the dream of owning an affordable home is becoming increasingly elusive. These skyrocketing premiums are driven by the rising frequency and severity of natural disasters, making it more expensive for homeowners to protect their properties. Consequently, the overall cost of homeownership is climbing, putting additional financial strain on prospective buyers. This surge in insurance costs is particularly burdensome for those already struggling to find affordable housing, as it adds yet another barrier to entry in an already challenging market. With insurance becoming a significant expense, the goal of securing a reasonably priced home is further out of reach for many Americans.
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Kristina Smallhorn
PO BOX 1271
Prairieville LA 70769
#realestatemarket #housingcrisis #KristinaSmallhorn

eXp Realty LLC,2900 Westfork Dr. Suite 401, Baton Rouge LA 70817
225-246-1812,Office [phone] ext# 149
Kristina Smallhorn is a licensed REALTOR® with the state of Louisiana, License number 0912122918
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[Riggsnic_co]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[codyputman]

I just can’t truly believe that this isn’t a ploy for corporations to slowly edge the individual out of home ownership. As a young man just starting my journey how am I supposed to grow wealth when even purchasing a low income house could bankrupt me by one mistake or one bad storm. It’s truly dystopian

[odessajackson]

Home insurance, medical insurance and car insurance companies are like the mafia!!!

[AveryFossen]

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people—at least in California, where I currently reside—are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

[alphaomega]

Insurance is the best legal scam ever.

1. Can raise rates as high as the sky
2. Can legally give clients the boot
3. In many cases, people are forced to have it

😳

[perkinatorfpv]

They complain about fraudulent claims, yet proceed with fraudulent policies and premiums

[MaxwellErwin]

It's sad because an owned home is one of the keys to a solid retirement. If you can't keep your home long enough to pay it off, or if you can't keep you paid off home with a fixed income because of insurance costs, what kind of retirement will an entire generation have, especially as we live longer and have more medical expenses.

We should be incentivizing people to buy homes, not punishing them.

[KabobHope]

Things will never change until we stop looking at houses as investments.

[cynthiacantrell]

They took all the inexpensive homes and put a 2 or 3 in front of the number, same house, no improvements. Out of control greed. Even land has gone through the roof. $275, 000 for 5 unimproved acres nowhere near the water, no house.

[FaeDruid]

Yes, this is a real problem. I can finally afford a home in Florida but now I can’t afford the insurance sometimes it feels like the worlds gone crazy.

[ghazman]

All the corporations got greedy, and local governments let them.

[bentleymalshi]

The nature of affordable housing today is like swimming in a water full of sharks and crocodiles. You're okay as long as you play dead and don't make any moves in any direction.

[victorsong]

I believe it's organized and deliberate, to get people out of their houses and make them renters.
When that's completed, ins rates will be normal again, the corporations who by then will own the houses, will not tolerate those insurance rates.
Remember Klaus Schwab's utterance: "You'll own nothing and you'll be happy".

[KingFergus]

The insurance is high because house's are priced %50-%60 more than they're worth..

[prismbrandingrealestatebra]

Another aspect that is not being discussed is how even those with great credit scores get terrible rates on loans. I had an 820 credit score with no debt and my recent loan for $10k came at the same 10% rate as someone who woild have a 740 score. ??? So a great score just means that you won't get denied the loan, but after that it doesn't mean anything.

[RED-cyig]

Another current example of out of control greed.

[soccersprint]

Make your own home repair emergency account if your home is already paid off. F the insurance company.

[dianeboynton]

You will own nothing and love it. CEOs wouldn’t be able to keep their jet skis boats second houses if they gave us decent rates on insurance.

[rafaelarroyo]

Thanks for always defending manufactured homes as affordable housing. I bought my new single wide 4 years ago and I'm very happy. Yes, My mortgage keeps going up every year mainly due to the insurance. I'm in Ocala Florida. I bought before covid so I was lucky to get my new home on my own land lot. Not a park. But, if I ever decide to sell I am not going to be able to qualify nor afford for another home. Because prices have exploded in Florida. Thanks for all you do!

[suemilkbone]

I paid off my home early just so that I have the option of dropping my home insurance if it becomes too expensive. Whether the insurance companies are really in dire straits is impossible for me to know.