Whose in the crosshairs?

It could lose 50 mph in wind speed and still be a monster. Instead it is building in strength.

Helene was almost all water.

This is WIND ***and*** WATER.

Not in the crosshairs personally, but my family's favorite vacation spot, Siesta Key, is. You have diehards who will insist on riding it out. There are some folks who simply can't evacuate. Anyone who can should be gone already.

I just read an article this morning about how the great migration to Florida is reversing. The article referenced one guy who bought a SFH there during the pandemic and is now relocating due to a job change who can't sell his house; it's been on the market for over six months with very little interest even after cutting the price. Climate change and the add on effects of sky high insurance premiums are the main factors driving people out and affecting the real estate market. The situation with condos is worse.

Asheville NC was supposed to be a climate haven being 500 miles from the coast and in the mountains. The effects of Helene has severely damaged their water distribution system and it will be sometime before water is restored. People will be leaving that area as well. There's only so long people can deal with lack of water, jobs and other basic necessities.

My insurance premiums were up sharply this year and events such as those in Asheville prove no place is a haven. I think premiums are going to rise sharply again in light of that. As far as Florida is concerned, there will be increased number of people who can't get coverage no matter the price.

Many of those inland folks will find out they do not have FLOOD insurance and will get nothing.

We had a major flood, 6 feet deep inside my rentals. I had been paying flood ins for years and got a small settlement. Neighbors who had never paid for flood ins got DOUBLE from FEMA.

FEMA refused my claim because I had rec'd money thru my insurance.

BRAD

I like comedian Ron White's joke about THAT GUY on the news who says he's staying put. "Not afraid of no wind."

Ron says "It's not THAT the wind is a-blowin... it's WHAT the wind is a-blowin. He'll see when he gets hit with a Volvo."

Stay safe out there!

GKarl, the article you reference does not convince me about that climate change is the reason that guy can't sell his house! IF what I see on real estate listings in MANY places is true, it was the OVERPAYMENT for houses during the pandemic that is the problem. The guy simply paid too much during the mini-Covid boom: low interest, mass migration from big cities: he paid too much and now with higher interest, higher insurance and lower housing prices he can't get his money back.

Climate change is NOT the main reason for that, that's a politically charged statement that can't possibly be proved. It's just the reporter's opinion. I hate articles like that.

Now: "The situation with condos is worse." IS true but not because of climate change or the real estate market. It's because condos are a logistical disaster: often quickly and poorly built, overpriced but with no real budget for big-ticket maintenance items.

When my parents flooded during Harvey, it wasn't because of the bayou down the street overflowing its banks, but it was because the volume of rain was falling too much for it to shed off into the waterways/be absorbed into the groundwater. That kind of flooding is super-hard to predict or prepare for.

95% of flood insurance is through the federal government.

As of 2023, it cost (on average) an extra $1,000/year for flood insurance, although I know my parents were paying an extra $4k/year just for flood insurance around 2013, 2014, 2015.

NE,

WMH

All of my rental houses have Cash Value type insurance (not the more expensive replacement cost insurance). For example, when I am done buying a house ($20K) and rehabbing it ($30K) that house gets insured for $50K which just covers my investment in the house.

All of mine, including my primary residence (I’m currently at my other home not in the area) are right in the path (Tampa/St Petersburg area). Currently have five under mandatory evacuation, others are on higher ground.

We are still recovering from Helene although I only had tree/fence damages. We have friends whose were gravely affected but they were closer to the water.

I don’t have hurricane coverage on several of them as the cost has become too much. A few others require flood which I also chose not to have. I’d honestly rather deal with just selling or paying out of pocket if I become damaged. The thought of dealing with an insurance company aftermath is even more stressful. I’m just fortunate I’m in a position to take the risk.