Another article showing concern in the housing market- yet the author may have lacked critical thinking
- Thread starter GON
- Start date
Some areas may become uninsurable. I'm glad I don't live in a flood plain. In any case where does the line of personal responsibility end?
Risk Rating 2.0: Equity in Action
FEMA is updating the National Flood Insurance Program's (NFIP) risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0. The methodology leverages industry best practices and cutting-edge technology to enable FEMA to deliver rates that are actuarily...
www.fema.gov
One thing I've noticed is that flood prone areas always seem to be filled with slab houses...
Some areas may become uninsurable. I'm glad I don't live in a flood plain. In any case where does the line of personal responsibility end?
Risk Rating 2.0: Equity in Action
FEMA is updating the National Flood Insurance Program's (NFIP) risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0. The methodology leverages industry best practices and cutting-edge technology to enable FEMA to deliver rates that are actuarily...
Seems to me that if they had crawl spaces a good portion of the houses wouldn't get water (except in the crawl space).
That’s the whole point of that meme, people putting on clown costumes but without even realizing it.
I know some first time home buyers and the statements they made back in 2020 to now are pretty close to that meme.
Crawl space with flood vents is a possibility but crawl spaces cause a lot of problems themselves due to cost to build/insulate. The only way to truly insulate the underside of the first floor of a crawlspace is by using spray foam. That's $$$.
If the money is available I'm seeing builders elevate their builds with soil. The residents then obtain an elevation cert which shows the house is X no. of feet above the 100 yr flood plain. Some localities are beginning to require that new homes are elevated and FEMA is making that a requirement for homes which have had a couple of claims.
True story a few years ago my wife and I were looking at new house under construction. It was in a flood plain and the builder raised it 5 feet by putting it on a crawlspace with flood vents. The only problem is that the builder also poured a rat slab so if there was flood the crawlspace would fill up like a bathtub up to the level of the flood vents and he didn't insulate/air seal the underside of the first floor. oops.
We may not agree on much but we do on this. We cant get into politics though. Think it's safe to say in here that personal responsibility is becoming a thing of the past. Sue everyone else for your bad choices. This is the problem with government insurance, government student loans. The programs arent allowed to be solvent and make the users responsible for their choices.
Some areas may become uninsurable. I'm glad I don't live in a flood plain. In any case where does the line of personal responsibility end?
Risk Rating 2.0: Equity in Action
FEMA is updating the National Flood Insurance Program's (NFIP) risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0. The methodology leverages industry best practices and cutting-edge technology to enable FEMA to deliver rates that are actuarily...
Here are the latest housing stats.
Active listings up, new listings up, pending listings (in contract) down. We are heading in the right direction after the disruptive world health event.
I take this as things are stabilizing and at the very beginning of a slope towards normal. Give it another year and it will look even more normal. We still have a long way to go, higher interest rates need to inflict more pain on consumers before a full turnaround as cruel as that sounds, mortgage rates were unnaturally low for way to long.
www.realtor.com
Active listings up, new listings up, pending listings (in contract) down. We are heading in the right direction after the disruptive world health event.
I take this as things are stabilizing and at the very beginning of a slope towards normal. Give it another year and it will look even more normal. We still have a long way to go, higher interest rates need to inflict more pain on consumers before a full turnaround as cruel as that sounds, mortgage rates were unnaturally low for way to long.
May 2022 Monthly Housing Market Trends Report
Realtor.com®’s May housing data release reveals a major turning point in inventory, with the count of home listings actively for sale growing compared to last year for the first time since mid-2019.
www.realtor.com
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GON
$100 Site Donor 2023
Ag,Here are the latest housing stats.
Active listings up, new listings up, pending listings (in contract) down. We are heading in the right direction after the disruptive world health event.
I take this as things are stabilizing and at the very beginning of a slope towards normal. Give it another year and it will look even more normal. We still have a long way to go, higher interest rates need to inflict more pain on consumers before a full turnaround as cruel as that sounds, mortgage rates were unnaturally low for way to long.
May 2022 Monthly Housing Market Trends Report
Realtor.com®’s May housing data release reveals a major turning point in inventory, with the count of home listings actively for sale growing compared to last year for the first time since mid-2019.
Is your post suggesting single family homes prices will not continue to rise in the near to mid term?
No
Then again, we live/just bought in one of the hottest markets in the country (North Carolina), we also were looking in the hottest market of Florida at the time too. If prices keep going up in these area's we will be priced out but we bought while buying was good.
Not a month goes by where I am not shocked still at this point, they just cant not build the homes fast enough while raising prices, cutting out some features and building even more expensive versions (models) of homes that they weren't building here just months ago.. Occupancy on the new homes just going to contract are now a year off.
Ps, BTW, literally 1000's of acres are being cleared for (grabbing at straws) 10's of thousands of new homes to be built, from Wilmington NC through Myrtle Beach.
In time this I guess will maybe lead to an oversupply but I dont know, everyone in my community is escaping the Northeast and Northern USA. I mean everyone, I moved off Long Island 15 years ago and feel right at home with all the northerners who just made the move in the last 6 months!
I love the low taxes on EVERYTHING, low Electric rates to the point of almost stupidity... and love being near the ocean again.
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Zee09
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One of the thing worth remembering from a pure statistical standpoint is the case shiller home price index is not adjusted for inflation, since by definition the index tracks inflation for housing.
Wage inflation is about 5% overall for the last 12 months. So if housing prices are rising less than that - there technically falling - again from a purely economic statistics perspective.
Wage inflation is about 5% overall for the last 12 months. So if housing prices are rising less than that - there technically falling - again from a purely economic statistics perspective.
Zee09
$200 Site Donor 2023
Forget the housing market..
I am getting hosed by homeowners insurance...
I am getting hosed by homeowners insurance...
Wait for another Hugo.
Most don’t wait to buy a house. The ones that do are usually left behind.
There’s always a catastrophe someplace and it’s usually someplace else than the mid Atlantic coast.
Yugo was 33 years ago and it didn’t come ashore on the North Carolina coast, not even close, far from it down in Charleston South Carolina.
Even with the above a storm 33 years ago hasn’t stopped the price appreciation or the massive influx of people in the lower part of South Carolina any different than any other part of the country, including Florida with massive increases in home prices and population growth and by far the most hurricane prone state in the nation
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Just about everyone who saw massive appreciation saw insurance increases. Would you rather roll back your equity?
Zee09
$200 Site Donor 2023
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