Comment by JKCalhoun
1 day ago
> when the government sets a price ceiling, insurance companies just leave…
> the insurance rates in Pacific Palisades or on the Florida coast would be so high that no one could afford to live there…
Seems like the result is the same — people will live there but without insurance.
worse, you’ll be paying to bail them out in the name of solidarity.
That’s insurance?
Change the euphemism from government to private insurance to satisfy capitalism gods and keep their giant foot from squishing us… still “on the books” as a co-mingled pool of funds to shift around to solve problems.
Aw …sad… other people exist and need resources too. Not just about your first world skin suit playing temp host to a run of the mill electromagnetic field effect.
People choose where they live, and should bear the cost relative to the amount of risk they chose to take. Government funding is not a magical blanket that somehow makes it moral to take from someone who made good decisions and give to another who made poor ones.
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I’m building my next house right on an active volcano. Thank you for subsidizing my idiocy. You should see the view!
Can't get insurance -> can't get a mortgage -> can't buy a house
For new buyers, yes, but there's plenty of people who already have a house but now they have no insurance for it. And sure, the terms of their mortgage say that they have to have it, but what can the lender do if nobody will insure that particular property no matter who the current owner is?