Critics fear Citizens bill may blunt housing recovery…Wha, WHAT!!
A few weeks ago I went to Tallahassee for the Florida Realtors “Great American Realtor Days”. Our objective at this event was to bring issues that impact the Housing Industry to our elected representatives. Of the different issues that we discussed was the issue with the State ran insurance program “Citizens”.
This is how I defined this bill in my previous update:
HP7093/SB1622 or what I’ve come to call the clearing house bill designed to get people off of the State ran home insurance program and get them into a private insurance program. Florida Realtors wants this to be passed, and so do I. But my reason isn’t because Florida Realtors says that they support it, but because of January 31, 2013, Citizens is the largest property insurer in Florida with almost 1.3 million policies and over $418 billion in exposure. That means if we have a bad hurricane season, the state of Florida takes a massive financial hit, and I’m against that, and guess who’s paying that bill? FR: Yes / Justin: Yes
Well The Florida Current highlighted a Herald-Tribune article that discusses opposition to this bill. The opposition of this bill is saying that IF we force people off of the State ran insurance program it will retard our housing recovery in the State of Florida. Because insurance premiums will start to increase and make home buying less affordable, well BUBBLE ALERT!! Of course housing will be less affordable, and that’s alright because “housing insurance provider” is not the job of the Federal or the State governments. So the next time you hear about the “Housing Recovery” in Florida or anywhere, take it with a grain of salt, because chances are, some big fat bureaucracy is holding it up on life support.
Get governments out of housing, get them out of insurance (housing, and health care) and let’s have a real recovery for once. Have I changed my position on
HP7093/SB1622? No, I still support this bill.
HP7093/SB1622 or what I’ve come to call the clearing house bill designed to get people off of the State ran home insurance program and get them into a private insurance program. Florida Realtors wants this to be passed, and so do I. But my reason isn’t because Florida Realtors says that they support it, but because of January 31, 2013, Citizens is the largest property insurer in Florida with almost 1.3 million policies and over $418 billion in exposure. That means if we have a bad hurricane season, the state of Florida takes a massive financial hit, and I’m against that, and guess who’s paying that bill? FR: Yes / Justin: Yes
Well The Florida Current highlighted a Herald-Tribune article that discusses opposition to this bill. The opposition of this bill is saying that IF we force people off of the State ran insurance program it will retard our housing recovery in the State of Florida. Because insurance premiums will start to increase and make home buying less affordable, well BUBBLE ALERT!! Of course housing will be less affordable, and that’s alright because “housing insurance provider” is not the job of the Federal or the State governments. So the next time you hear about the “Housing Recovery” in Florida or anywhere, take it with a grain of salt, because chances are, some big fat bureaucracy is holding it up on life support.
The Justin Lindsey Report 