We Went To Florida: The Housing Insurance Crisis Will Shock You

The Florida insurance industry is collapsing, and it could take the whole housing market down with it. Homeowners are facing mounting debt, and the risk of losing their homes. Meanwhile, Governor DeSantis has taken $3.9 million in donations from the insurance industry.
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[timetowakeup]

“This country has (social) welfare for the rich, and rugged individualism for the poor”. ~ MLK Jr.

[jessejamez]

It's funny how you spend your whole adult life paying for all kinds of insurances and then.... they drop you to not pay up.

[pourcentQuebecois]

This is what happens when you don't have laws protecting consumers from corporate abuse.

[LucasBenjamin-hvsk]

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!

[lawrencearnemann]

The perfect scam. Youre forced to buy a product for decades and when you go to use it, they fire you

[ArtistFormallyKnownasMC]

Thank you for the video. It’s gotten so bad. Here’s what I’ve paid in the past few years:
2019 $1850
2020 $2844
2021 $2673
2022 $3782
2023 $5830
2024 $6686

[tatianastarcic]

It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.

[airons]

America isn't a country. America is a corporation!

[tshirtphilosophers]

Unpopular opinion: If a place is prone to natural disasters, maybe we should stop subsidizing/encouraging growth there

[alexsteven.m]

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

[DonaldMark-nese]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[GraniteTopTalks]

as a health care professional, you should look into what private entities are doing to the healthcare system in America.

[novampires]

I always laugh when insurance companies talk about keeping us safe.. just another con.

[ogre]

"Meanwhile, Governor DeSantis has taken $3.9 million in donations from the insurance industry" ...that's an interesting way to describe taking bribes.

[JacobPaula]

High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.

[Darkness]

DeSantis received $3.5 billion from the federal government in 2023 for home owners insurance. He gave the money to the insurance industry with no plan on doing anything with it, and insurance companies left with the money.

[beaniemac]

These insurance companies are vile and unscrupulous. You're paying in for decades and when it's time to pay up, they do whatever they can to weasel their way outta paying your claim.

[mqbgofjzkkonzx]

Ron DeSantis doesn't believe in climate change but the insurance industry sure does.

[micheal_mills]

Considering the prevailing inflationary conditions, it appears improbable that the stock and housing market will register substantial gains in the immediate future. Therefore, it is advisable to temper one's expectations and acknowledge the potential length of the market's recovery period. It is my professional opinion that it would be prudent to defer any significant investment decisions until the economic environment stabilizes in areas of concern. Until then, exercising caution and refraining from engaging with the current turbulence would be the most judicious course of action.

[hughjaass]

Been a homeowner in Florida since 1999. Native Floridian. Over the past 2 years, my insurance went from $1700, to $4500. I live in the middle of the state. 70 miles from Gulf Coast. Desantas caused this. 100% to blame. The Insurance Lobby OWNS him & the GOP Majority.