Why am I not surprised that skyrocketing insurance premiums kill the housing market?
Insurance rates aren’t skyrocketing in Texas.
Yes they are. Source: family member who works for an insurance broker and two friends who are agents.
Most people saw a 20-40% jump depending on where they filed a claim in the last 2 years.
Insurance rates are rising everywhere. There’s nothing particularly bad happening in Texas that’s making insurance rates rise unlike Florida.
Long story short, you can’t explain falling Real Estate prices in Texas with rising insurance rates. Boston and Philadelphia are still seeing Real Estate appreciation.
3 back to back winter storms and increased damages from hail and wind during tornado/storm seasons.
Boston and Philadelphia are both in states where you can still get an abortion. No one wants to move to these shit hole red states.