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Florida Residents Flee State as Insurance Premiums Skyrocket up to 900%
(www.newsweek.com)
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this post was submitted on 23 Oct 2023
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Sell their homes to who? Is this like a NFT, always a bigger fool, kind of thing?
To landlords, who will charge arbitrarily high rent, secure in the knowledge that they aren't in a free market due to inelasticity of demand (people can't do without shelter) and supply (there are finite places to live). That will let them pay the insurance premiums homeowners can't afford.
Premiums they will then offload onto renters keeping their margins.
Landlords are not immune from the market. It’s not truly inelastic in that people have a choice of where to live. Climate change will eventually suppress demand and thus prices for many parts of Florida.
Smart Florida money is buying land in northern Maine to move the orange groves to.