Comments by "Kenz300 x" (@KJSvitko) on "Inside The Mysterious Bitcoin City Billionaires Are Pouring Money Into | Insider News" video.

  1. Climate change is making weather events more extreme. Hurricanes are more frequent and more dangerous causing more damage. Insurance companies are raising rates or even pulling completely out of the market. Water levels are rising every year making low lying areas and coastal properties a bigger risk to insure. Even condos are feeling the pinch. Rising insurance rates and repairs are getting passed on in HOA fees. There will be a time in the future when people will have to self insure and risk the loss of everything. Only the rich that can afford to pay cash and take the risk will be able to buy coastal properties. Banks will not make a 30 year loan on a property that may be destroyed by a hurricane or will be under water in 20 years. Banks will not give a loan on uninsured properties.
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  2. Climate change and rising sea levels will make properties in low lying areas and coastal areas impossible to insure. Banks will be reluctant to give a mortgage for 15 or 30 years because the property may be under water. Selling properties to average buyers will become impossible in the future as banks and mortgage companies stop making loans for these properties. Florida is a high risk state for insurance and extreme weather like hurricanes. People will have to self insure and take the risk of loss. Condo associations are losing their insurance and if they find a new higher cost policy they will be passing on the higher costs to association members. Flooded cars from Florida hurricanes were filling the salvage lots. Insurance companies will raise rates and pass on the costs and risks to policy holders next year.
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