Quote:
Originally Posted by woodrow
That NYT article is really about how f*cked Floridians are going to be because of insurance. That is what is going to increasingly be the issue. The flood insurance. And more to the point the reinsurers of those insurers providing flood insurance. If the big reinsurers decide the risk it to high, they pull out or really jack up the price to insurers, which of course is passed to people buying insurance policies.
I have a climate scientist friend who when asked whether of not they should build/move to Florida replies, "sure, if you can afford to lose your investment." This was 5 years ago. It was based strictly on the idea that insurance companies are going to stop offering polices or are going to charge huge amounts of money with limited coverage and if you get hit by a storm, mainly flooding, too bad.
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Exactly.
There's climate - Of course.... And there's climate change, which is a moving process. However, economics isn't linear, and neither is human behavior. If one day, everyone realizes they can't afford an investment in FL, the bottom will begin to fall out pretty quickly.