Jon Grauman

Sure, yes, a fancier timeshare. Different versions of fractional ownership that allow more accessibility to people.

Sure, yes, a fancier timeshare. Different versions of fractional ownership that allow more accessibility to people.

You should be legitimately scared. This is the greatest existential threat to real estate. It's not interest rates. It's not supply and demand. It's climate change. Climate change is the greatest threat to real estate, period, full stop, particularly in the coastal markets that are the luxury markets and the most expensive markets, of course.

You should be legitimately scared. This is the greatest existential threat to real estate. It's not interest rates. It's not supply and demand. It's climate change. Climate change is the greatest threat to real estate, period, full stop, particularly in the coastal markets that are the luxury markets and the most expensive markets, of course.

You should be legitimately scared. This is the greatest existential threat to real estate. It's not interest rates. It's not supply and demand. It's climate change. Climate change is the greatest threat to real estate, period, full stop, particularly in the coastal markets that are the luxury markets and the most expensive markets, of course.

I mean, obviously, you look at just the tragedies that happened in Florida this year, which happen every year, by the way. How long is it before one of those storms comes sweeping through Miami? Miami has been the biggest winner in the last three years of real estate in the United States. So much wealth has flocked down there.

I mean, obviously, you look at just the tragedies that happened in Florida this year, which happen every year, by the way. How long is it before one of those storms comes sweeping through Miami? Miami has been the biggest winner in the last three years of real estate in the United States. So much wealth has flocked down there.

I mean, obviously, you look at just the tragedies that happened in Florida this year, which happen every year, by the way. How long is it before one of those storms comes sweeping through Miami? Miami has been the biggest winner in the last three years of real estate in the United States. So much wealth has flocked down there.

What happens when, not if, when one of those storms comes through the center of Miami and demolishes that real estate? Like, it's...

What happens when, not if, when one of those storms comes through the center of Miami and demolishes that real estate? Like, it's...

What happens when, not if, when one of those storms comes through the center of Miami and demolishes that real estate? Like, it's...

That's exactly right. That's exactly. They're no longer once in a lifetime. And that's just, again, unfortunately, sadly, that's the new world that we live in. But the ability to get insurance as it relates to that, which is a requirement of a loan if you're getting a mortgage, is going to be a major factor. And at some point, I have to imagine,

That's exactly right. That's exactly. They're no longer once in a lifetime. And that's just, again, unfortunately, sadly, that's the new world that we live in. But the ability to get insurance as it relates to that, which is a requirement of a loan if you're getting a mortgage, is going to be a major factor. And at some point, I have to imagine,

That's exactly right. That's exactly. They're no longer once in a lifetime. And that's just, again, unfortunately, sadly, that's the new world that we live in. But the ability to get insurance as it relates to that, which is a requirement of a loan if you're getting a mortgage, is going to be a major factor. And at some point, I have to imagine,

Not to suggest that the government has all the answers because they certainly don't. I imagine there's going to have to be more government intervention, government subsidies, more things like California Fair Plan here in California, which have their limitations and ceilings on their coverage.

Not to suggest that the government has all the answers because they certainly don't. I imagine there's going to have to be more government intervention, government subsidies, more things like California Fair Plan here in California, which have their limitations and ceilings on their coverage.

Not to suggest that the government has all the answers because they certainly don't. I imagine there's going to have to be more government intervention, government subsidies, more things like California Fair Plan here in California, which have their limitations and ceilings on their coverage.

But there's going to have to be more things like that in the future because insurance companies that are pulling out of these markets are creating a greater monopoly for the ones that are still staying.

But there's going to have to be more things like that in the future because insurance companies that are pulling out of these markets are creating a greater monopoly for the ones that are still staying.

But there's going to have to be more things like that in the future because insurance companies that are pulling out of these markets are creating a greater monopoly for the ones that are still staying.