Ben Keyes

And that's, you know, the places that might come to mind are places like Florida and the Gulf Coast, wildfire zones in California, but also some surprises like parts of Oklahoma where they're hit with a lot of hailstorms and tornadoes. And there we've seen big run-ups in property insurance costs.

And that's, you know, the places that might come to mind are places like Florida and the Gulf Coast, wildfire zones in California, but also some surprises like parts of Oklahoma where they're hit with a lot of hailstorms and tornadoes. And there we've seen big run-ups in property insurance costs.

And so what this has done is it's made the sort of predictability of homeownership a little bit less predictable. Yeah. And usually when you think of buying a house, you say, well, I'm kind of locking in my costs. I'm taking on a fixed rate mortgage and I have a predictable path of my expenses. And what's happening in property insurance markets is unraveling that.

And so what this has done is it's made the sort of predictability of homeownership a little bit less predictable. Yeah. And usually when you think of buying a house, you say, well, I'm kind of locking in my costs. I'm taking on a fixed rate mortgage and I have a predictable path of my expenses. And what's happening in property insurance markets is unraveling that.

And so what this has done is it's made the sort of predictability of homeownership a little bit less predictable. Yeah. And usually when you think of buying a house, you say, well, I'm kind of locking in my costs. I'm taking on a fixed rate mortgage and I have a predictable path of my expenses. And what's happening in property insurance markets is unraveling that.

And we're seeing these big increases. And I worry a lot for homeowners who had bought on a fixed income or were sort of constrained in how much they could afford. And now they're seeing their insurance costs rise sharply. And so this is a reflection of climate change and our changing climate, which is inducing more frequent and more severe disasters.

And we're seeing these big increases. And I worry a lot for homeowners who had bought on a fixed income or were sort of constrained in how much they could afford. And now they're seeing their insurance costs rise sharply. And so this is a reflection of climate change and our changing climate, which is inducing more frequent and more severe disasters.

And we're seeing these big increases. And I worry a lot for homeowners who had bought on a fixed income or were sort of constrained in how much they could afford. And now they're seeing their insurance costs rise sharply. And so this is a reflection of climate change and our changing climate, which is inducing more frequent and more severe disasters.

But it's also a function of mobility patterns and where we've moved in this country over the last really 50 years. We've been moving into the danger zones. We've been moving into harm's way. The population of Florida has quadrupled since 1970. And when you look at the reports of

But it's also a function of mobility patterns and where we've moved in this country over the last really 50 years. We've been moving into the danger zones. We've been moving into harm's way. The population of Florida has quadrupled since 1970. And when you look at the reports of

But it's also a function of mobility patterns and where we've moved in this country over the last really 50 years. We've been moving into the danger zones. We've been moving into harm's way. The population of Florida has quadrupled since 1970. And when you look at the reports of

The insurers and then the reinsurers, which is the industry that insures the insurance companies, they point especially to the larger concentration of residents in risky areas as being the main contributor to rising insurance premiums.

The insurers and then the reinsurers, which is the industry that insures the insurance companies, they point especially to the larger concentration of residents in risky areas as being the main contributor to rising insurance premiums.

The insurers and then the reinsurers, which is the industry that insures the insurance companies, they point especially to the larger concentration of residents in risky areas as being the main contributor to rising insurance premiums.

Yeah, I think this is one of the challenges where the incentives are especially misaligned. Local governments generally want to have more of a tax base. They want to see more properties in their municipality. And that means that they're willing to allow development on swamps and marshes and rivers. and other sorts of risky areas. You see the development into the wildfire risky areas.

Yeah, I think this is one of the challenges where the incentives are especially misaligned. Local governments generally want to have more of a tax base. They want to see more properties in their municipality. And that means that they're willing to allow development on swamps and marshes and rivers. and other sorts of risky areas. You see the development into the wildfire risky areas.

Yeah, I think this is one of the challenges where the incentives are especially misaligned. Local governments generally want to have more of a tax base. They want to see more properties in their municipality. And that means that they're willing to allow development on swamps and marshes and rivers. and other sorts of risky areas. You see the development into the wildfire risky areas.

So I think that there's some misaligned incentives at a municipal level. What you then have at the state level is potentially more room for some discipline there to impose tighter rules and restrictions. But at the end of the day, we're operating in a world of a housing shortage. And so anything that we do to raise housing costs is going to be unpopular.

So I think that there's some misaligned incentives at a municipal level. What you then have at the state level is potentially more room for some discipline there to impose tighter rules and restrictions. But at the end of the day, we're operating in a world of a housing shortage. And so anything that we do to raise housing costs is going to be unpopular.

So I think that there's some misaligned incentives at a municipal level. What you then have at the state level is potentially more room for some discipline there to impose tighter rules and restrictions. But at the end of the day, we're operating in a world of a housing shortage. And so anything that we do to raise housing costs is going to be unpopular.