Probably not a good idea...
snip
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In light of significant climate-related effects the state experienced during 2024, this year will be telling. A confluence of facts and forces may change the minds of retirees who in years past would have been snapping up inventory, and this may speed the erosion of property values in several Florida markets. At the same time, Florida's low-tax environment will make it ever more difficult for local governments to make needed investments to change where and how its residents live. It's a vicious cycle that will likely play out in several low-tax Southeastern states over the next couple of years. But Florida, with its insistence that everything is Just Fine, is the narrative gift that keeps on giving.
The news is both climactic and economic.This past fall, Hurricane Helene triggered storm surges as high as 15 feet, leading to widespread destruction along Florida’s Gulf Coast. Just two weeks later, Hurricane Milton hit, causing dozens of tornadoes and extensive flooding in the Sunshine State. Florida is already seeing the effects of extreme heat, intensifying precipitation, increased flooding risk, groundwater rise, sea level rise, salt water intrusion, all combined with explosive population growth.
According to Zac Taylor, writing for The Tampa Bay Times, home insurance premiums in Florida have risen more than 100% over the last three years. Florida has the highest enrollment in its state insurer of last resort, Citizens, of any state. While the number of Citizens policyholders recently dropped below 1 million for the first time in more than two years, this deliberate "depopulation" effort has likely pushed more homeowners into signing up either with "non-admitted" insurers, who are freer from oversight by the state government, or with other geographically concentrated, less-solvent insurers who are offering ever-thinner coverage.* As Francois Ramette of PwC puts it, "Smaller insurers are particularly at risk of outsized losses given their inherently more concentrated (less diversified) books of business and lower levels of analytical capability."
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public domain day
The first was public domain day. Works from 1929 are now the public's along with sound recordings from 1924. Some samples.
a tip of the hat to Dan
06:35 in Art, Books, General Commentary, literature, Music, photography | Permalink | Comments (0)