Real Estate Crash thread

[yeahman]

At least you can get insurance. I got dropped years ago. And now with the never ending fire danger, I may never get any again.

Could be a blessing in disguise. Fuck insurance.

[skaredshtles]

Could be a blessing in disguise. Fuck insurance.

I'm having trouble seeing how this could be a "blessing in disguise."

[goldenboy]

^^ Yeah, fuck insurance but I still want it.

Our condo building just got dropped. We should be ok, only because the HOA board just made the handful of remaining wood burning fireplaces illegal, and the insurer seemed to say that would bring them back. We have gas so it's no big deal for me, but I sure would be bummed if I had a perfectly functional and maintained fireplace.

[yeahman]

I'm having trouble seeing how this could be a "blessing in disguise."

He's relieved of the guilt of not paying for insurance. He has no choice in the matter. We should all be so lucky.

^^ Yeah, fuck insurance but I still want it. And odds are he's going to be just fine.

Our condo building just got dropped. We should be ok, only because the HOA board just made the handful of remaining wood burning fireplaces illegal, and the insurer seemed to say that would bring them back. We have gas so it's no big deal for me, but I sure would be bummed if I had a perfectly functional and maintained fireplace.

Do they differentiate between "fireplaces" and woodburning stoves? Fireplaces are useless, but I'd be pissed if I had a modern woodburning stove and were told I couldn't use it.

[heckacali]

Our insurer dropped us in the spring, report specifically said due to landscape vegetation too close to the house after visual inspection.

Many $$$$ of landscaping later, all plants moved, whole house with hardened 5' buffer....

insurance says they won't do us because there is only 1 access road in and out.

Whelp, I can't fix that. Fuckers.

[goldenboy]

Do they differentiate between "fireplaces" and woodburning stoves? Fireplaces are useless, but I'd be pissed if I had a modern woodburning stove and were told I couldn't use it.

Nope, no woodburning either way.

[4matic]

Our insurer dropped us in the spring, report specifically said due to landscape vegetation too close to the house after visual inspection.

Many $$$$ of landscaping later, all plants moved, whole house with hardened 5' buffer....

insurance says they won't do us because there is only 1 access road in and out.

Whelp, I can't fix that. Fuckers.

Mine and a friends agent said they never flip. Good luck.

[MontuckyFried]

Seriously, tho. WTF is up with insurance companies dropping people all over the country for BS reasons? Like using drones or satellite imagery combined with shitty AI, and being blatantly wrong about their assumptions, then being totally unwilling to let people appeal. It's nuts. While I can kinda understand dropping Florida properties, insurance companies have been going crazy these last few years. Whilst simultaneously hiking up rates for everyone.

[XXX-er]

My neighbor across the street is a career wildland fire fighter and I've noticed he has all his fire wood in the corner of the lot farthest away from his house, our crews usually go somewhere else for the action and its never been close but you never know

I'm having trouble seeing how this could be a "blessing in disguise."

rugged individualist, probably also has a perimeter established with weapons and shit

[byates1]

Canary in a coalmine. The modern housing situation is unobtainable, unaffordable and is an illusion for most.

You will have no savings, own nothing, rent everything and pay 8$ for a coffee, and you will love it.

[dan_pdx]

Seriously, tho. WTF is up with insurance companies dropping people all over the country for BS reasons? Like using drones or satellite imagery combined with shitty AI, and being blatantly wrong about their assumptions, then being totally unwilling to let people appeal. It's nuts. While I can kinda understand dropping Florida properties, insurance companies have been going crazy these last few years. Whilst simultaneously hiking up rates for everyone.

Allstate denied us because the previous owner had a yard sale after the sale closed and the driveway was full of yard sale crap when they came by. I told them it was cleaned up and they came back and wrote a policy, seems pretty arbitrary.

[skaredshtles]

Canary in a coalmine. The modern housing situation is unobtainable, unaffordable and is an illusion for most.

Still great deals in the Midwest.

[XXX-er]

https://www.cbc.ca/news/business/ban...rate-1.7360509

a Half percent interest rate cut but only in canada eh so who gives a fuck

[NBABUCKS1]

Still great deals in the Midwest.

We will all desire to live in Rockford, IL.

[skaredshtles]

We will all desire to live in Rockford, IL.

Don't forget all of rural Michigan...

[XXX-er]

https://www.cbc.ca/news/business/ban...rate-1.7360509

a Half percent interest rate cut but only in canada eh so who gives a fuck

[Whiteroom_Guardian]

If none of us were skiing/hiking/outdoors folks we would all be hyped living in "flatland, USA" in cheap as beautiful homes. We signed up for this shit lol.

My brother just bought a beautiful restored 1850 farmhouse on acreage in rural NJ with a barn etc etc for what condos cost here.

[Toadman]

Could be a blessing in disguise. Fuck insurance.

I guess when you don't have insurance, you count your blessings when the fire, tornaoa, hurricane, earthquake, flood or whatever diaster misses your house. At some point you run out of blessings and may need that home owner's insurance.

[byates1]

Don't forget all of rural Michigan...

I could see a cabin in the UP or n Minnesota eh. Not really needing to work or be a part of any society/community type bullshit.nawmean?

[Toadman]

Seriously, tho. WTF is up with insurance companies dropping people all over the country for BS reasons? Like using drones or satellite imagery combined with shitty AI, and being blatantly wrong about their assumptions, then being totally unwilling to let people appeal. It's nuts. While I can kinda understand dropping Florida properties, insurance companies have been going crazy these last few years. Whilst simultaneously hiking up rates for everyone.

It's like the health insurance industry pre-Obama era. If you got sick one two many times or got cancer and spent a million bucks on medical care, you got dropped. Same thing with the homeowners racket. You file a claim, you are one and done these days. Trying to weed out the higher risk customers.

[Dantheman]

If none of us were skiing/hiking/outdoors folks we would all be hyped living in "flatland, USA" in cheap as beautiful homes. We signed up for this shit lol.

My brother just bought a beautiful restored 1850 farmhouse on acreage in rural NJ with a barn etc etc for what condos cost here.

Case in point: https://www.zillow.com/homedetails/9.../5553932_zpid/

Remodeled non-flood zone waterfront with a pool and garage for $385k

[byates1]

[yeahman]

It's like the health insurance industry pre-Obama era. If you got sick one two many times or got cancer and spent a million bucks on medical care, you got dropped. Same thing with the homeowners racket. You file a claim, you are one and done these days. Trying to weed out the higher risk customers.

Which is why I've said before and I'll say it again, homeowner insurance is on its way to being nationalized same as health insurance. Hell maybe the insurance companies even want that to happen with the way they are behaving. Doesn't seem to have hurt the health insurance companies.

[4matic]

Houses in the hood getting big markdowns. Lots of old boomers late to the party. The Villages will have to wait. Demographics are not housing friendly.

[MontuckyFried]

Which is why I've said before and I'll say it again, homeowner insurance is on its way to being nationalized same as health insurance. Hell maybe the insurance companies even want that to happen with the way they are behaving. Doesn't seem to have hurt the health insurance companies.

I wouldn't be too sure about that. Florida came up with "Citizens Property Insurance" as a state-backed solution. And now they're denying most claims.
Florida's Largest Insurer Denying Hurricane Claims Sparks Alarm
https://www.newsweek.com/florida-lar...claims-1972227