GLOBAL WARMING Housing Market Consequences Right Now
Politics / Climate Change Sep 06, 2024 - 08:15 PM GMTBy: Nadeem_Walayat
- INSURANCE CANCELLATIONS!
In the US and elsewhere more so than the UK home owners are getting their home insurance cancelled!
In the UK we have a major issue with car insurance, the premiums are going up by many multiples, some cars are no longer insurable i.e. Higher end landrover's in London.
My own insurance went up 70% on my 2016 Land Rover Disco Sport. I would have done a video on it but everyone's getting hit no matter the car or driver.
This is a harbinger of much worse to come! Where most will not be to afford to get home insurance.
What to do? You need to insure yourself!
I.e. a pot of money to fix what the insurance would have covered. Most of us do that anyway i.e. fix the problem then claim on the insurance because they will only hike the premium if one claims.
Understand that Global warming is a significant driver of INFLATION!
THIS IS HOW GLOBAL WARMING MANIFESTING IT'S CONSQUENCES RIGHT NOW!
A lot more folk are gong to get dropped and premiums are going to keep rocketing higher.
What does this mean?
It means you should NOT invest in insurance companies! They are ALL going to go out of business!
One needs to build an insurance pot of say 10% of the asset one was seeking to insure.
Of course it's not all the insurers fault because after climate change there are the ambulance chaser lawyers, everyone gets a phone call, email or text asking if you have been in an accident during the past 3 years, even if I had been I would never involve these vultures.
One would have thought the dash cams would have put the crash for cash out of business but no, there are those who seek to fiddle their insurance which ramps up premiums for all, and contributes to the tipping point.
So just as in my recent article the earths atmosphere has a tipping point so does the insurance business, most insurers are going to go out of business due to a myriad of contributing factors which like co2 on it's own is a minor but lump them all together sparks a catastrophic trend which is what we are witnessing in the insurance industry,
And all those WIth insurance you have to be aware that the insurance that you are paying over the top for may turn out to be worthless when you actually get around to making a claim!
Why? because the insurer may turn around and deem the issue to be preexisting i.e. BEFORE you took out insurance ! So don't make the mistake of taking out expensive insurance because it may not be covered when it comes to make a claim!
I've cut my insurance to the bone, i.e. some 12 years ago they wanted about £1200 a year! Forget that I cut it to the bone, no contents cover just the building, the minimum! And currently pay £600 a year! Still a lot because it is probably worthless as we won't know until one claims but had I gone with what they were quoting for the full shebang I would probably be forking out £2,500 a year now ! What a con! Home Insurance is a SCAM which won't be revealed until it's time to claim.
So you cannot rely on home insurance you have to build your own insurance pot say at 10% of the value of your home so that you can cover most eventualities and hey if a full blown disaster strikes then one has some minimal insurance that covers the whole property short of which your 10% pot covers you for anything less than a total loss, that and you can of course make it grow as part of your stocks portfolio, so effectively you will have insured yourself for free!
Bottom line when the chips are down your insurance won't be worth the paper it is written on. Also stick with your existing insurer as the worse thing you can do is shop around at renewal because if you ever claim they will play pass the parcel game by saying whatever is wrong is preexisting.
Home Insurance is a bit like believing in a fairy god mother. It's probably going to be a pain in the butt to actualise when it comes to make any claim. So if you are prepared for that you won't find yourself in a disastrous situation.
Do read my how to get rich guides which are aimed towards making one more robust in a fragile world, where no matter what gets thrown in ones direction it will be like water off a ducks back!
The bottom line is that we will have waves of inflation for the whole of this decade as I pointed out over 4 years ago when the central banks pressed the print money button in response to the plandemic.
This article is an excerpt from extensive analysis US Housing Market Analysis, House Prices Trend Forecast 2024 to 2026 that was first made available to patrons who support my work. So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $7 per month, lock it in now at $7 before next rises to $10 per month for new sign-ups. https://www.patreon.com/Nadeem_Walayat.
CONTENTS
Stock Market Trend Forecast
US Stock Market vs M2 Money Supply
AI Stocks Portfolio
Nvidia 10 for 1 Stock Split
AI Computers Hype
2024 - AI Equals Loss of Agency
Why Alien Intelligence Cannot Predict the Future
Consequences of AI
UBI - Universal Billionaire Income
GLOBAL WARMING Housing Market Consequences Right Now
RECESSION When Yield Curve Uninverts
Global Debt Bubble.
IMMIGRATION DRIVES HOUSE PRICES HIGHER
US Housing Market Free Equity
US FIXED MORTGAGES LIMITING SUPPLY
HOA Nightmare
Florida Hurricanes
Rentals Crisis
Who is Buying All the Houses?
Commercial Property Capitulation
US House Prices Momentum
US House Prices Trend Forecast
US Housing Market Stocks
UK General Election - 4th July 2024
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By Nadeem Walayat
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Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.
Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk
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