Posted on 02/03/2006 7:30:39 AM PST by doc30
I think all unions are about to get their long overdue day of reckoning.
I board up tight and if I run out of luck I will get a FEMA loan and rebuild.
I keep the flood insurance however.
My comparison with California was with the rapidly appreciating market, not with risk from natural disasters. Part of the increase in homeowners insurance comes from property value appreciation. If your home doubles in price, your premium should at least double to cover the cost of rebuilding.
Sadly, I'm in the process of immigrating to the U.S. and am a homeowner in FL. I can't get the homestead excemption until I get my green card. Added to the insurance hikes, my escow is greater than my mortgage payment. Also, renters will be facing big rent increases as landlords need to cover the uncapped property tax increase and insurance costs, too.
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