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Farmers Insurance is leaving Florida in latest blow to homeowners
(www.tampabay.com)
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this post was submitted on 11 Jul 2023
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And all of that is also ignoring the idea that it's not actually possible for everyone to move.
Like, who would be buying these people's homes that they're leaving in FL in order to get a new place somewhere else?
in all probability, a state authority will eventually need to eat the cost and help resettle a large number of people currently living in Florida. whether that'll be Florida or the US government (or another party) remains to be seen.
I am reminded of that one video.
"sell the houses to who? Fucking aquaman?"
I was curious about 30-year mortgage origination volumes in Florida, but best I found quickly was from the CFPB in 2019, so it's useless given the pandemic, supply-chain issues and inflation since.
I can't imagine anyone there is getting a 30-year today fully expecting to pay it off, retire and die never having to move again.