Developer · Bend · Member since 2023 · 64 posts · 12 votes
How concerned are investors/property owners in Florida right now? There seems to be a lot of discussion about an insurability vacuum looming and gaining steam, which would devastate the housing market since affordability and loanability would get hit.
The concerns about an insurability vacuum in Florida are certainly on the radar for investors and property owners. The potential impact on the housing market, affordability, and loanability is a concern but shouldn't be a deal breaker as the demand for property still outweighs the supply. Insurance plays a crucial role in property ownership, especially in a state like Florida prone to natural disasters. The looming threat of increased premiums, reduced coverage, or even the unavailability of insurance could indeed pose challenges for both current property owners and prospective investors. It's a situation worth monitoring closely, and many in the real estate sector are keeping a watchful eye on developments in the insurance landscape.
With that said the good news is living in FL is in high demand. Prices have been steady and if you're not in a flood zone there are still competitive rates out there. I have numerous carriers that I works with and can always facilitate in getting you quotes for you.
Hi, as an investor, it is a major risk for sure and I am a bit worried. That being said, I still plan on investing in Florida (I have properties in Fort Lauderdale and West Palm Beach). It could be the one thing that destroys the FL market. Do I think that will happen? No but it is certainly a possibility. More likely, it will be lower profitability in the future. That being said, I have faith in this market and people are still moving here and need somewhere to live. So on a 1-10 scale, my concern is in the 3 range. We have to see how it plays it out over the next couple of years.
The concerns about an insurability vacuum in Florida are certainly on the radar for investors and property owners. The potential impact on the housing market, affordability, and loanability is a concern but shouldn't be a deal breaker as the demand for property still outweighs the supply. Insurance plays a crucial role in property ownership, especially in a state like Florida prone to natural disasters. The looming threat of increased premiums, reduced coverage, or even the unavailability of insurance could indeed pose challenges for both current property owners and prospective investors. It's a situation worth monitoring closely, and many in the real estate sector are keeping a watchful eye on developments in the insurance landscape.
With that said the good news is living in FL is in high demand. Prices have been steady and if you're not in a flood zone there are still competitive rates out there. I have numerous carriers that I works with and can always facilitate in getting you quotes for you.
Hi, as an investor, it is a major risk for sure and I am a bit worried. That being said, I still plan on investing in Florida (I have properties in Fort Lauderdale and West Palm Beach). It could be the one thing that destroys the FL market. Do I think that will happen? No but it is certainly a possibility. More likely, it will be lower profitability in the future. That being said, I have faith in this market and people are still moving here and need somewhere to live. So on a 1-10 scale, my concern is in the 3 range. We have to see how it plays it out over the next couple of years.
Hi, as an investor, it is a major risk for sure and I am a bit worried. That being said, I still plan on investing in Florida (I have properties in Fort Lauderdale and West Palm Beach). It could be the one thing that destroys the FL market. Do I think that will happen? No but it is certainly a possibility. More likely, it will be lower profitability in the future. That being said, I have faith in this market and people are still moving here and need somewhere to live. So on a 1-10 scale, my concern is in the 3 range. We have to see how it plays it out over the next couple of years.
Great answer I’m not to worried about insurance
I think the key here is that you are motivated to diversify geographically to hedge this relatively low risk.