US/Florida homeowner's insurance
Insurance is getting super expensive in Florida due to rampant fraud and lawsuits on top of hurricanes and floods. And hurricane season starts in a few weeks. Couldn't happen to a nicer state.
https://wapo.st/3Lt6rGz
US/Florida homeowner's insurance
@freakazoid I haven't figured it out yet, but I feel there should be a financial instrument to buy a call on Florida. Like buy a house and over-insure it. Something. It seems like a safe bet that it won't exist.
US/Florida homeowner's insurance
@ted That would be a put, not a call. Isn't that what Michael Burry did in 2007?
US/Florida homeowner's insurance
@freakazoid sorry, yes, I always mess up the put/call thing.
I wasn't familiar with the Michael Burry story. Interesting. I wonder if there are geographic based mortgage packaging.
US/Florida homeowner's insurance
@ted If you haven't watched The Big Short I highly recommend it. He's played by Christian Bale.
He also has a lot to say about the current stock market situation. https://markets.businessinsider.com/news/stocks/big-short-michael-burry-stock-market-bubble-crash-valuation-multiple-2022-4?op=1
US/Florida homeowner's insurance
@ted The problem with using homeowner's insurance for this is that a policy generally only lasts 6 months to a year and they can choose not to renew it at any point. So to benefit from homeowner's insurance things would need to go south very quickly.
Maybe just buy property somewhere Floridians are likely to flee to? I took similar considerations into account when choosing to move to Pittsburgh. Our bridges are falling down, but we should be less impacted by climate change than most places.
US/Florida homeowner's insurance
@freakazoid that's good advice, but it doesn't result in me making ONE MILLION DOLLARS off of the anti-science crowd 😉
