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California

Buddyzbuddy

(248 posts)

6. Homes with no loans

Reply to Zorro (Original post)

Sat Jan 11, 2025, 07:57 PM

Jan 11

Many homes in the past few years purchased by investors were bought with cash thereby negating the requirement for homeowners insurance. If you're a hedge fund or very rich investor, you have the funds on hand to repair or rebuild a home that is destroyed. But, when a catastrophic event occurs such as the fires in Los Angeles they will be in for a rude awakening. Check out the ownership and developer of Pallisades Village.
So much devastation to so many in such a short amount of time. I sincerely feel bad for all of you and your community.

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Highlight:

1 in 10 Los Angeles homes don't have insurance, says one estimate [View all] Zorro Jan 11 OP

Cat coverage should be required to be offered, and pronto! bucolic_frolic Jan 11 #1

In parts of N.J., the problems are flooding and wild fires. 3Hotdogs Jan 11 #3

I'm not in Cali, but have considered MotownPgh Jan 11 #2

As long as your mortgage allows you not to have coverage you can do it. Jacson6 Jan 12 #7

I'm really surprised it's not higher, especially with homeowners who've recently lost coverage. LauraInLA Jan 11 #4

Its not higher because most people carry a mortgage drray23 Jan 11 #5

Homes with no loans Buddyzbuddy Jan 11 #6