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Banks need to stop lending to people who want to buy/build

Posted on: October 9, 2024 at 09:06:29 CT
Joeboo MU
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in disaster areas, whether its repeated wildfires, flooding, hurricanes, whatever, and insurance companies just have to price their policies correctly according to the risk.

You want to insure your million dollar house in a high wildfire area?...$100,000 per year please for the insurance

There's a saying in the insurance industry that there's no bad risk, just bad pricing. Get those high risk people removed out of the pool that shares risk with "normal" houses in other areas of the countries. Stick them in their own high risk pool, insulated from impacting others that don't choose to live in such a place, and charge them insurance accordingly.

If some rich idiot wants to spend $10million on a beach home that costs $1million per year to insure, then thats on him. But lenders not lending to those people for those type of properties is the first step
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What I read this morning is Milton is going to hit around - Carlos Rossi KC - 10/9 08:51:39
     I don't think many outside of Florida realize that the Tampa - KC rules MU - 10/9 11:13:29
     Andrew was devastating (nm) - pickle MU - 10/9 09:53:41
          And construction is so much better than it was back - alwaysright MU - 10/9 11:07:25
     RE: What I read this morning is Milton is going to hit around - TigerFan92 STL - 10/9 09:37:19
     Ian went over our house in Ft. Myers at 155mph sustained - Ohtiger MU - 10/9 09:23:03
     Florida is about to get some mother nature population - Eggs MU - 10/9 08:56:09
          I don't understand why anyone would want to live there - TigerNuts KC - 10/9 09:58:46
               I'm blissful in Daytona Beach. Will never return to the midw - 90Tiger STL - 10/9 17:37:15
               RE: I don't understand why anyone would want to live there - CPA MU - 10/9 11:23:53
               It’s wonderful (nm) - pickle MU - 10/9 10:53:48
               We lived in Tallahassee for a couple of years and I enjoyed - mizzou541 KC - 10/9 10:01:29
          Our insuranced almost tripled between MO and FL and - mizzou541 KC - 10/9 09:54:45
          After having Irma and Ian go right over our Fort Myers - Ohtiger MU - 10/9 09:33:47
               Yeah I'll stick with it being a place to visit(nm) - Eggs MU - 10/9 09:45:04
                    Yep, sorta like a nuthouse... - Gyro STL - 10/9 09:49:50
          Hurricane insurance is absolutely stupid. I can't even - Tiger_Claw KC - 10/9 09:21:07
               It's like when my brother lived in Corona Del Mar, Orange - Diamond Dave MU - 10/9 09:34:30
               We had concrete barrel tiles on our roof - 30 year life. We - Ohtiger MU - 10/9 09:26:15
                    Getting bad everywhere, especially for roofs. Joeboo can - Diamond Dave MU - 10/9 09:27:40
                         Our roof was 10 years old. Barrel tile companies change - Ohtiger MU - 10/9 09:31:08
          I know an entire family unable to get out at this point - Diamond Dave MU - 10/9 09:08:45
               were they listening to this idiot? - tigerdb MU - 10/9 10:49:01
                    "this idiot" recommended evacuations and it has reduced - 90Tiger STL - 10/9 13:02:40
                         I'm not inferring anything - I asked a question. - tigerdb MU - 10/9 13:14:24
               They need to pull a Forest Gump and just start walking... - Carlos Rossi KC - 10/9 09:41:46
               why did they wait so long?(nm) - TigerA MU - 10/9 09:13:24
               why didn't they leave 3 days ago?(nm) - MizzouAstro MU - 10/9 09:13:13
                    Supposedly were unable to get gas.(nm) - Diamond Dave MU - 10/9 09:14:03
                         then they didn't look (nm) - 90Tiger STL - 10/9 13:03:01
                         I was just in Orlando yesterday, a lot of people getting - playhard KC - 10/9 10:17:30
                         Plenty of people were getting gas(nm) - Iron DUKE - 10/9 09:59:32
                         There are multiple public transit programs in place - Rabbit Test MU - 10/9 09:36:40
                              Man, I don't know. Just relaying a story. I'm sure they - Diamond Dave MU - 10/9 09:37:37
                         so drive 50 miles north and get gas there - MizzouAstro MU - 10/9 09:16:41
                              Reports are that gas was not available all up I75 as recent - Ohtiger MU - 10/9 09:27:44
                              I don't know the particulars. Daughter texted the wife and - Diamond Dave MU - 10/9 09:18:08
                                   they need to siphon like The Last of Us(nm) - TigerA MU - 10/9 09:20:33
                                   A well planned household I see(nm) - meatiger MU - 10/9 09:18:55
                                        I vaguely know who they are, but the Dad seems quite - Diamond Dave MU - 10/9 09:20:16
                                             no, that's nonsense. you don't have to drive to Tulsa (nm) - 90Tiger STL - 10/9 13:03:50
                                             Getting the ef out means - Rabbit Test MU - 10/9 09:38:10
                                                  Tell me you’re ignorant - pickle MU - 10/9 09:54:21
                                                  Though your bunker may not have power - kmawv8 KC - 10/9 09:41:50
                                                       Yea, my bunker - Rabbit Test MU - 10/9 09:52:03
                                                  You have no idea where they are - meatiger MU - 10/9 09:38:53
                                                       If they are in a evacuation area, they need to - Rabbit Test MU - 10/9 09:48:36
                                                            they don’t “need” to do **** (nm) - pickle MU - 10/9 09:51:32
                                                            DD did not say if they were in an evac area or not - meatiger MU - 10/9 09:50:42
                                                            You've got it all figured out from the middle of the - kmawv8 KC - 10/9 09:49:53
                                                                 I have a home - Rabbit Test MU - 10/9 09:54:24
                                                                      And Florida natural disasters too (nm) - kmawv8 KC - 10/9 09:55:51
                                                                           Most Florida natural disasters - Rabbit Test MU - 10/9 10:52:26
                                                                                ^ correct (nm) - 90Tiger STL - 10/9 13:04:28
                                             there is book smart and there is common sense(nm) - TigerA MU - 10/9 09:21:09
                                                  For sure. One of my best friends in STL got like a 35 on - Diamond Dave MU - 10/9 09:23:45
                                                       If he somehow gets you to show him how to do it 14 times - Lt. J. Dangle MU - 10/9 09:54:44
                                                       lol(nm) - TigerA MU - 10/9 09:25:22
                                   Sounds like my wife...will drive until there's barely - Mormad MU - 10/9 09:18:53
                                        Lol. You might be accurate here(nm) - Diamond Dave MU - 10/9 09:20:51
          Hopefully insurance companies stop insuring the idiots - MizzouAstro MU - 10/9 08:58:43
               or the state of Florida can handle its hurricanes instead - tigerdb MU - 10/9 10:40:15
               Or, recall the billions sent to Ukraine(nm) - Diamond Dave MU - 10/9 09:10:50
                    So use tax money - meatiger MU - 10/9 09:13:08
                         RE: So use tax money - CPA MU - 10/9 09:19:10
                         Tax money wasn't sent to Ukraine(nm) - Diamond Dave MU - 10/9 09:16:38
                              isn't all of the governments money ultimately tax money? - Joeboo MU - 10/9 09:17:58
                                   Nah, there's also debt that'll never be repaid(nm) - Mormad MU - 10/9 09:19:28
                                        how do I get in on that deal?(nm) - Joeboo MU - 10/9 09:20:30
                                             Become born to a uber-wealthy European Jewish banking - Diamond Dave MU - 10/9 09:22:12
                                   The money supply is the Federal Reserve's money. Private - Diamond Dave MU - 10/9 09:19:18
                              Really?(nm) - meatiger MU - 10/9 09:17:57
                    insurance companies sent bililons to Ukraine?(nm) - MizzouAstro MU - 10/9 09:12:26
                         Yes, the bastards(nm) - Diamond Dave MU - 10/9 09:17:08
                         lemme put a stop pay on that check real quick - Joeboo MU - 10/9 09:16:58
               Banks need to stop lending to people who want to buy/build - Joeboo MU - 10/9 09:06:29
                    Sounds too reasonable - Eggs MU - 10/9 09:17:38
                    Excellent points(nm) - Diamond Dave MU - 10/9 09:09:22
                         make that barrier of entry REALLY high to live in those - Joeboo MU - 10/9 09:13:48
                              You'd think they'd learn, but banks don't typically fail in - Diamond Dave MU - 10/9 09:25:43




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