Prices of condos in some major Florida metros are dropping year-over-year and sales are declining as insurance costs and homeowners association fees climb, according to Redfin, Seattle.
Tag: Insurance
Matic: Challenges in Home Insurance Market Likely to Continue
Matic, Columbus, Ohio, in a recent year-end report noted 79% of mortgage lenders experienced an increase in problems with home insurance in the past year, among other challenges. Moreover, the company predicted such challenges may persist into 2024.
DBRS Morningstar Warns About Insurance and Property Values in Coastal Areas
DBRS Morningstar, Toronto, released a new analysis warning about the impacts of climate change–including hurricanes–on property insurance in vulnerable areas. Insurance companies are exiting catastrophe-prone areas, DBRS Morningstar said, potentially leading to a decline in property values.
Natural Disasters, Insurance Landscape Cause Industry Disruptions, Panelists Say
WASHINGTON–Amid a cascading series of natural disasters, the homeowners’ insurance market has been seriously disrupted, and is likely to remain that way for the foreseeable future, panelists said at the Mortgage Bankers Association’s Compliance and Risk Management conference.
CoreLogic: Catastrophes Illustrate Impact of Climate Change on Housing
When you include the word “catastrophe” in the headline of a report, it tends to get attention. And CoreLogic, Irvine, Calif., says “catastrophe” plays an ominous role in the present and future housing environments.