Households in Florida, the third most populous state in the US, have been grappling for some time with a property insurance crisis that is making home ownership unaffordable for many. After at least six insurers went insolvent in Florida last year, Farmers on Tuesday became the latest to pull out of the Florida market, saying in a statement that the decision was based on risk exposure in the hurricane-prone state.

“Global warming is partly to blame, but so is Ron DeSantis. Instead of banning books and picking fights with Disney and drag queens, he should be tackling the issues that really matter to Floridians.”

I’d like to disclose I’m a non-Florida mortgage lender with lender friends in Florida. It’s starting to really impact interested buyers. When they see the premiums, they run.

There’s some places where buyers can’t find anyone willing to insure. Well, if there’s no homeowner’s insurance, there’s no mortgage loan either.

It’s not looking good and certain areas of California (fire-prone areas) and starting down this same path.

It should be interesting to see what happens to inventory and values over the months and years ahead.

That issue? Government funded landowner welfare to be able to continue unsustainable development.

Take the hint people… move

As much as everyone is willing to find anything disparaging for Florida, there’s more here to take away. California is in the same situation and ultimately every State will come to face this.

The underlying issue is climate change. Insurance bets long and with the climate changing on an almost yearly basis now, there isn’t a long game to play. If the various leaders of this planet do not act on this challenge the long term cost is only going to go up.

Florida and California are just the heralds, this IS ABSOLUTELY coming to every doorstep on this planet.

Historians will look back at DeSantis’ elections as one of the worst things to ever happen to Florida.

Florida is where insurance goes to die

-DeSantis probably