this post was submitted on 23 Oct 2023
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The skyrocketing cost of insurance premiums in Florida is leading residents to drop their insurance, consider selling their home, and even move out of the state, according to recent reports.

For years now, the sunny, vibrant state has been a magnetic destination for many Americans—a phenomenon which has been driving up demand for housing, especially during the pandemic, as well as home prices.

But while Florida was the number one state in the country that people moved to in 2022, it was also the one with the highest number of residents wanting to relocate, according to a SelfStorage.

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[–] hperrin@lemmy.world 93 points 2 years ago (5 children)

Sell their homes to who? Is this like a NFT, always a bigger fool, kind of thing?

[–] driving_crooner@lemmy.eco.br 60 points 2 years ago

Fucking Aquaman?

[–] quindraco@lemm.ee 49 points 2 years ago (2 children)

To landlords, who will charge arbitrarily high rent, secure in the knowledge that they aren't in a free market due to inelasticity of demand (people can't do without shelter) and supply (there are finite places to live). That will let them pay the insurance premiums homeowners can't afford.

[–] tissek@ttrpg.network 23 points 2 years ago (1 children)

Premiums they will then offload onto renters keeping their margins.

[–] NewNewAccount@lemmy.world 19 points 2 years ago (1 children)

Landlords are not immune from the market. It’s not truly inelastic in that people have a choice of where to live. Climate change will eventually suppress demand and thus prices for many parts of Florida.

[–] JustZ@lemmy.world 1 points 2 years ago

Smart Florida money is buying land in northern Maine to move the orange groves to.

[–] afraid_of_zombies@lemmy.world 1 points 2 years ago (1 children)

I keep trying to convince s few buddies we should pool our money together and get into RVs. Have a lot with RVs for rent. Move them from lot to lot based on needs. Park them outside business that don't pay well but have a lot of workers.

[–] quindraco@lemm.ee 1 points 2 years ago* (last edited 2 years ago) (1 children)

I've heard worse business proposals, for sure. But be careful about identifying as a landlord (even a prospective one) in a place like this!

[–] afraid_of_zombies@lemmy.world 1 points 2 years ago (1 children)

Not actually going to own land and I am certainly not a lord. I am thinking more like I own RVs, rent them, and work with my renters to find provide parking and utilities.

[–] quindraco@lemm.ee 2 points 2 years ago

Landlords aren't defined by literally owning land or literally being lords. If you own living space you rent out, you're a landlord, even if your apartments are mobile (including both RVs and houseboats).

But listen, I support you and your choices. This is not me being critical. We're just having this conversation in a space where it's much more in vogue to hate anyone who owns living space they rent out.

[–] eestileib@sh.itjust.works 36 points 2 years ago (1 children)

Republicans who want to jerk off to DeSantis and let some racial slurs fly without social opprobrium.

That's who has been moving there since 2020 or so.

[–] vanontom@lemmy.world 7 points 2 years ago

Some people see Florida as America's floppy, deformed penis. Others see it more as a nauseating dookie emerging from the south. Scientists are still studying the area to find the causes of the mass psychosis, but urge all healthy adults to avoid the region and its inhabitants.

[–] JustZ@lemmy.world 8 points 2 years ago

Nah just spin it up into a bunch of naked credit default obligations and mix it in with the A and AA tranches, what could go wrong?

[–] rchive@lemm.ee 2 points 2 years ago

Everything has a buyer at some price. These people will just have to sell at a loss, probably.