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Perhaps the most interesting part of the article:
The insurance companies had an obligation to maximize shareholder value. That is the sole purpose of insurance companies.
Climate change makes risk unpredictable; risk makes insurance unaffordable or unavailable; no insurance makes mortgages unavailable; without mortgages property values crash
Why is it without mortgages property values crash? Is it because sellers are forced to sell to only people who can pay cash? I suppose that makes sense. And of course those won’t be “people”, those will be banks and investment companies, looking to rent the property out to tenants. So more large chunks of money are siphoned away from the middle class.
Man insurance is such a scam. They'll only actually offer hypothetical coverage if they know you won't need it 😅
Actually need it? "Well, we have to make a profit! Why would we pay for that thing you're paying us to cover?"
Absolutely sucks, but these are also some of the wealthiest homeowners in the US. Cut your losses and move to less vulnerable areas. Nobody should be building homes in flood plains, lake beds or fire prone areas, particularly the ultra-wealthy. Save FAIR for normal folks and low income families.
This is starting to feel more and more like a planned property grab.
Maybe? They're not sure if this guy is linked.
Warning: MSN link ahead:
Alleged Arsonist Arrested In Los Angeles Amid Deadly California Wildfires: What We Know
ETA: Also, 3 fires started all at once looks a little wonky in January.
Edit 2:
...though law enforcement officials have said they cannot confirm a connection between the arson suspect and any of the deadly fires currently burning through California.
One of the women involved in the citizen's arrest, Renata Grinshpun, told local news he had a "propane tank or... like a flame thrower" and that someone saw him "behind a van, trying to light something on fire."
I think it's much simpler honestly: fires like these have been happening every year in California for the past hmm... at least 5 years, maybe more. Insurances are simply catching on and doing what any for-profit company would do in this situation, avoid losing money.
There was a wildfire in the area last month. A couple years ago, a wildfire burned down a bunch of Malibu, a few miles away. I would be very surprised if wildfires in the area stop happening.
I think that maybe the most-reasonable solution is for insurers to just ramp rates way up unless a home is built to be extremely fire-resistant -- just assume that there are going to be wildfires that dump embers in the area sooner or later, and that if your home isn't constrained such that it is able to withstand being showered with embers without going up in flames, that it's going to be insanely costly to insure, because it's likely to burn sooner or later.
Even if one specific house is a concrete bunker, if it's in the middle of normal homes, the bunker still faces potentially 1000 degree temperatures from surrounding homes, and shit's going to burn.
You could pave everything; put in some 100-yard paved firebreaks; who know what else. Or you could just accept that there's going to be a lot of climate refugees fleeing high risk US states. All the heads-in-sand people thinking it was just Tuvalu and Kiribati at risk going to wake up and find out it's LA and Miami, too.
and shit's going to burn.
Having a house next door burn doesn't entail that your house burns. You can see video from this fire of people walking around next to houses on fire -- they aren't spontaneously combusting. Heck, I had a relative who had exactly the not-burn thing happen to them in this fire -- the house next door burned down, but theirs didn't. And it's not hard to see that that has to be the case, or once one house in a city burns, the whole rest of the city would too. That didn't happen even in this fire, or there wouldn't be a Los Angeles left.
You can constrain how your house is built. You can have one of those counter-wildfire systems that has large tanks of water kept on-site and a generator-driven system that sprays it out over the property in a fire. I'm sure that there are others. They aren't necessarily cheap and some aren't pretty, but you can do buildings that can pull though fires.
Yeah, one house on fire next to you is probably fine, although I've seen that melt the siding off neighbors. All the houses on your block, especially when those houses are only separated by 6 feet, is a completely different situation.
Ahahahahahahaha! Hahahahahahahaha!
Oh my god, get fucked rich people!
This makes me so happy.
What the fuck is wrong with you
Either grow up or become less of shitstain