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Originally Posted by pdxtex
there should also be a sixth category, potential. as in potential to have your investment flattened by a natural calamity. id be curious to examine insurance rates for florida metros versus some of the mountain and plains cities too.
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This is probably the biggest righteous cause for discomfort in CA and yet very few people seem discomforted by it. I take it seriously though. In my retirement years, I still carry a significant mortgage on my home just because I do not want more of my own money in it than necessary. I do realize that in CA borrowers of other than purchase money mortgages--i.e. refinanced mortgages--can be sued for any shortfall in the case of repossession, but as we all learned in 2009, that isn't really likely and I thik it would be even less likely in the wake of an earthquake that wrecked a reinforced concrete and steel midrise built to recent earthquake codes like mine.
Knowing people who live in Florida, I know that homeowners' rates there are awful and the worst, of course, is Federal Flood Insurance. And that is about to get worse:
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Congress Set for Heated Debate on Flood Insurance Program
By RACHEL WITKOWSKI
Updated March 9, 2017 3:06 p.m. ET
WASHINGTON—Congress is gearing up for a heated fight over a government-backed flood insurance program that owes billions of dollars to taxpayers and is set to expire this year.
What to do about extending the National Flood Insurance Program divides Congress along regional rather than party lines. Lawmakers in flood-prone states are at odds with those in other regions weary of subsidizing residents of riskier areas along coasts and waterways. Another issue is convincing homeowners who have been paying artificially low rates for insurance that they must pay more . . . .
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https://www.wsj.com/articles/congres...ram-1489055403