About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.

Perhaps the most interesting part of the article:

  • Nate@lemmings.world
    2·
    14 days ago

    Would this not most likely still cause the same kind of financial collapse in the housing market that was mentioned as a possibility in the article linked by OP? If it is not possible to get insurance for an event (i.e. wildfire) that is likely(/definitely going) to occur, then I imagine buyers/real-estate developers would be less inclined to pay high prices in those regions.

    • lolcatnip@reddthat.comEnglish
      1·
      13 days ago

      I think we’re likely to see a collapse of housing markets in places like CA and FL no matter what.