The Next Economic Crisis is Home Insurance

[@johnmarlowe914]

This is among the biggest news that is completely under-reported. We've seen over the past 12-months that "rates are up a lot", but no one is willing to ask or investigate the implications or results of this. Wild stuff. Thanks for putting this together!

[@RaymondKeen.]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@Hectorkante]

Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?

[@ClarkeGriffiny7]

Well, I suggest you make a diversification plan because it's been harder to build a good portfolio that stays afloat since COVID. Personally, I garner knowledge from a brokerage Adviser whom I work with, and I've actually made over $350K with their help since February. Very effective defensive strategies are used to protect my portfolio and make profits despite the ups and downs.

[@BellamyGriffin19]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@ClarkeGriffiny7]

Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@SandraDave.]

Thank you for this tip. It was easy to find your coach on google . Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@KylaScanlon]

Thanks for watching, everyone.

[@treymiller9017]

Yo, I work and argue against home insurers daily. They’re preparing for a wave of lawsuits to flood them. Snake farm has had a number of instances that I’ve come across, where allegedly, they have lied to my face. Calling sewage sanitary water

[@spacecadet9680]

My chubb (that’s an insurance company right?) is held thru the transfer agent

[@scottruthenberg6521]

Thanks for making the video

[@samwoods7879]

you’re welcome.

[@johnlimpkin]

America is toast, the end of the year big event is coming, everyone feels it in their bones

[@latayarolle3169]

It’s wild how you just talked about this and boom, LA dealing with these scamming companies.

[@juanmacias5922]

I think you hit the nail on the head at the end, everything is wrong because the risk models are wrong... Not just in the economy, but in every sector in humanity.

[@JP-xq7fo]

Why are the risk models wrong? Fraudulent data? They’re getting data from somewhere…

[@meltedsnowman9637]

Absolutely prophetic.

[@keyboarddancers7751]

Indeed!

[@brzyrt9714]

its more like the thing that was already happening continued to happen into the future. The thing happening with the LA wildfires right now was already happening. the LA fires just brought the topic into the national stage

[@NelleHummell]

With climate change leading to more frequent and severe natural disasters like hurricanes, wildfires, and floods, home insurance companies are facing massive payouts. This increases the risk of these companies becoming insolvent, especially if they haven’t priced their policies accurately to reflect these rising risks.

[@DianaTownsend-kj5kj]

In some regions, we’re already seeing insurers pulling out because they can't afford to cover the potential losses. If this trend continues, homeowners could be left without coverage, leading to a broader financial crisis

[@cherylhills3227]

Right, and if homeowners can’t get insurance or if the costs become too high, it could also affect the housing market. People might be unable to sell their homes or afford new ones, causing a drop in housing demand and prices.

[@RandyColby-mj1zm]

this crisis could push the insurance industry to innovate and develop new products that are better suited to today’s risks. For instance, parametric insurance, which pays out based on the occurrence of a specific event rather than the actual damage incurred, is gaining traction.

[@sebastiaanthijn7982]

Governments might also step in to provide better safety nets or incentives for sustainable building practices, which could reduce risks and, in the long run, lower insurance costs.

[@LoydJohnson-kp3jv]

That's a good point. It might also encourage homeowners to invest more in disaster-proofing their homes, which would be a win-win situation. But still, navigating this potential crisis won’t be easy. This is where having a skilled analyst could be a game-changer

[@MereAYT]

When home prices are artificially inflated, as they are right now, the high valuations drive up property taxes and insurance premiums. People owning overpriced homes is a cash cow for municipalities, and good business for insurers.

[@deanthroop8054]

I watched first hand as the insurance industry stripped people of what little they had, denied coverage at all cost, and then when forced to do something get a massive bailout from the government, all while making huge profits with healthy dividends and stock buybacks. Then the State steps in and says you have to stop abusing your power and position so they throw a tantrum and whine about everything. I have a mortgage. I have seen my rates steadily and rapidly increase. In a year or two at the current pace, I am going to be paying more for insurance in a year than I pay for the loan. Add onto that city, county, and State taxes and trying to own a house makes zero sense and I am absolutely against helping insurance rates go up. It used to be that if there was an issue, we would adapt and the market would encourage it. Fire prone areas, make the utilities that start the fires stop buying back their Chinese investors shares, cut the dividend and force them to do the work improving their infrastructure, not just show ads claiming they are doing it. Help people understand how to create a defensive space for fires and shift resources to fund it. Build flood abatement areas, keep wetlands in tact, build wind brakes. There are a myriad other things we can do other than reward insurance companies for gouging us in the first place.

[@JohnSmith-oe9nh]

What insurance bailout are you referencing?

[@deanthroop8054]

@@JohnSmith-oe9nh FEMA publishes their numbers, as a starting point; links are problematic in comments. Just as note, the point was missed. There are better market based options than a subsidy on the backs of ratepayers, or taxpayers. I know that independent agencies and agents rarely reap the rewards of the relief, but the "important" shareholders and C-Suite individuals certainly do.

[@basilman121]

Why did you do a variable interest loan and not a fixed... what

[@deanthroop8054]

@@basilman121 my loan is fixed. It is the only thing that is fixed though. Taxes and insurance come out of the mortgage payment.

[@JohnP-e8u]

Where do you live?

[@T.K.P.]

I subscribed because of your "if you hear dog barking, it's my neighbour's dog cheering me on". Bravo, i salute for your ingenuity. You, as much as i can see on internet, are just perfection.

[@BugMateo]

Congrats on your non-garage!

[@CherylAndredeStAmant]

Thanks!

[@ItsFreshCut]

Loved the video. Hated the echo. Keep posting on KZbin. Love these long videos.

[@KylaScanlon]

im sorry! im getting my setup upgraded next video

[@ecosignals]

​@@KylaScanlonhorraaay

[@robertlee4172]

Echo is not the problem. Industry greed is. The message is clear, we're being herded into a corner and forced to pay higher premiums. It's that simple.

[@sugarlessrobots]

@@KylaScanlon No need to be sorry! Message was the most important part.

[@troyboyd3100]

Excellent video! Two other points, 1. Part of the problem is that the National building codes are no longer just for safe, basic shelter. Now they require environmental upgrades, energy efficiency upgrades, and accessibility (like wheel chair access). That adds a huge amount to the cost of building a new home. 2. Communication is far worse now (in the digital age), so dealing with government offices, or large suppliers, is much more difficult. They don't answer their phones, their "contact info" on websites often don't work, or lead you into phone machine "Hell". And companies seem to actively make it difficult to exchange, or return items. And getting answers from government is almost impossible today. Everyone seems to put you off, saying "that's not my department".

[@sentinel501]

Credit card default rates are slowly going up too. It’s concerning because it likely means people are already maxed out when paying for big things like rent, mortgage and insurance.

[@danielrosenblatt1383]

Great video, thank you Kyla! One thing you mentioned briefly is building disaster resistant homes. This can be done through construction code regulations or the insurers declaring they will charge less for certain construction technologies.

[@jondonron]

American people don't know how to build houses houses are builder out of concrete not wood so it'll last longer

[@meganohare1567]

In Florida, building codes are county specific. Usually after a really big hurricane that county and surrounding counties will update their codes. The panhandle did nothing after Michael hit. None of the panhandle counties changed their building codes. We are now close to 20 years behind southern florida on building codes. Your suggestions are what would help. The issue is whoever is running the state makes that decision. The panhandle worships desantis, so the county admins aren't going to do anything to help. They will complain but do nothing that can actually remedy the situation. The current state administration is taking out the word "climate" from all state documents. Everyone that is stuck living here is getting screwed. We can't wait to move but until we get orders, we are stuck. When we move, we want to build a disaster resistant home but finding a builder who A does that type of home building in our home area and B will work with a VA loan, is non existent.

[@tealkerberus748]

@@meganohare1567 If the government wont enforce building standards, the insurance companies can. Simply tell people that they will provide insurance at x premium if the house is built to y standard. Then write up their standard - fire resistant, earthquake resistant, extreme wind resistant, extreme rain resistant and not in a floodway, built to the modern standard of airtight and insulated with mechanical ventilation and dehumidification so it won't fill with ash in a fire or rot from moisture, and with its own electricity and water supply so it's immune to supply disruptions. I reckon the way to build it would ba cast-in-place concrete with a lot of reinforcing, but I'm sure the insurance companies can hire engineers that will tell you exactly what will make the grade.

[@milesdollasign3906]

this is one of the best videos i’ve seen lately, great info

[@Zt3v3]

I'm in California and I pay $760 per $100,000 of value for one property and $1571 per $100,000 for another property. I know it's anecdotal, but figured it was worth mentioning.

[@JOGA_Wills]

It is a scam... My sister bought a townhouse in 2021, nothing on the home inspection.. 8 months later I visit and she shows me around and shows me her shower where the floor bobs like a water bed... long story short insurance didn't cover the restoration job because it didn't count as a leak during to their being space between the drain and the pipe..... like what ???

[@vremster]

Yes, crappy home inspections are also part of the problem. There are YT channels devoted entirely to that, now.

[@jeltoninc.8542]

Everything nowadays is a scam. People hate the homeless because, subconsciously, they know the homeless have it somewhat figured out in that they have given up on this flawed system altogether.

[@patricksullivan9256]

possibly your best video yet. thanks!

[@xvx4848]

I've been saying this for a long time. The crisis won't come from bankruptcies and foreclosures, it'll come from other rising costs that are unavoidable: property taxes going up and insurance costs going up. Many people feel richer when their home values go up, but many don't realize those values don't actually add to your net worth...until you SELL. Once people start to realize they're overpaying for everything and they're sitting on a financial time bomb they'll sell quickly. The selling will lead to more selling until the entire market collapses. I agree with what a lot of people are saying about credit ratings and the low risk of foreclosures - I think that most people who own a home are very low risk. The problem is the risk isn't in them, it's from the environment. There was a study done pretty recently that said that $500,000,000,000 isn't being priced correctly into the housing market due to climate change risks. We're about to see how those risks will send some into financial ruin.

[@user-zu5do6ri6r]

Pretending climate change isn't helping.

[@Joegolberg1]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[@Kevinbrian1]

Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.

[@Joegolberg1]

That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?

[@Kevinbrian1]

I usually go with registered representative; Zachery M Demers, He provides a more grounded approach, looking at factors like market demand, regulatory changes, and adoption trends. This approach enable to make informed decisions rather than solely relying on emotional market dynamics

[@Kevinbrian1]

he often interacts on Telegrams

[@Kevinbrian1]

@Zachfinance thats it

[@gregsteed870]

Good video. I agree, it's either higher premiums, less coverage, higher deductibles or no coverage at all... insurance as we know it... is dead, unfortunately. I work in insurance and this is the reality.

[@maxwellbailey6055]

Great video. I thought I knew everything going on with home insurance but boy was I wrong. Thank you Kyla!

[@oscararellano6127]

I can't help but think this video is more timely than ever after hearing the stories of homeowners in California who were priced out of homeowners insurance before the fire. Some folks received policy renewals in the amount of 18 grand.

[@babaluto]

Cannot help but wonder why the size of homes are not addressed more intensely. Especially first homes. Besides being less expensive initially, the energy to heat/cool is substantially less. Not talking about 400 sq ft tiny homes but the sizes that were built all over the country in the 60-70's. A basic 3/2 with 11-1200 sq ft. Add to that, accelerated mortgage payment programs that address the current higher interest rates which pay down the principal much faster. I would think that insurers may look at them more favorably. Dunno. Congrats on your space.

[@SimGunther]

FAX! I'm not surprised home builders DGAF about starter homes < 2k sq ft because those aren't the jobs that get them cash money, but they're necessary for long term maintenance and reasonable entry for cash strapped folks.

[@cavejohnson9071]

I've been looking at duplexes/triplexes/quadplexes instead of single family homes for that exact reason. It seems like a more common/accessible way to get your foot in the door of home ownership with that 2-3 bedroom living space under 1500 sq ft

[@marcl7307]

Smaller homes aren’t being built because of either zoning or profit margin (or both). If zoning will allow small homes to be built, not even tiny homes, builders couldn’t do it profitably. The caveat it townhomes/mutifamily buildings but that has its own set of issues unfortunately.

[@SigFigNewton]

@@marcl7307yeah there needs to be either tax incentives or direct subsidies to builders who build smaller homes Not this nonsense of down payment assistance (responding to low supply by effectively increasing demand)

[@Barf-so3qy]

Yeah. Housing is too expensive to insure. It’s the only part of the housing crisis that homeowners cannot escape.

[@yourfriendlygamedev]

Thanks Kyla! I’ve been looking into buying a home for a while now, but I have been waiting for the market to cool off, interest rates to lower and just be comfortable. This is really good information that let’s me know I’m not as informed as I thought. It’s always something else. Anyway, you’re so awesome and I really appreciate the hard work and effort you put into giving us this content for free.✌🏼

[@analysisjitsu]

Even if you have insurance if you try to file a claim you will find that your deductible is very high and they have a whole playbook for not paying you - they throw in depreciation, if it is a named storm there are limits, etc... The fine print really limits how much you can actually get.

[@sciolio1]

What would happen if States mandated that insurers had to be headquartered in the state, and could not do business outside of the state? As it is, homeowners in low-risk states are subsidizing homeowners in high-risk states, and also inadvertently propping up home-values in high risk areas. It seems to me that any given state could solve this problem in their own borders with the passing of a single bill (not that the lobbying efforts of the entire insurance industry against that bill would make it easy).

[@hrolvnir]

This is how banks used to operate until multistate licensing became common in the 80s. There are many upsides, but the downside is the smaller organization could go completely bankrupt more easily than a national carrier. This is part of how eg JPM became as large as it is- successive economic shocks caused a wave of closures and consolidation. This is more true for home insurance, where risks are tied to regional disasters; a good year in Florida can cushion a bad year in Arizona.

[@EdwardZambrano]

Glad to see you're making content, please get a proper microphone!

[@vremster]

And reduce the echo. That was my major problem.

[@jeltoninc.8542]

She needs a mic and audio software with a noise gate.

[@cmath6454]

2/3 of homes reside on the coast and majority of them need to be massively repriced due to rising oceans encroaching on them and increasingly violent weather. The issue is all those housing values are the basis of helocs and other products. Its a house of cards of the different sort since 08

[@jeltoninc.8542]

Yes, the whole global financial system is one big scam at this point. GOD BRING IT DOWN please.

[@wabbit2099]

“Louisiana: Beautiful, a lot of problems.” I want to see that as the new state motto.

[@masonstove]

Just discovered your channel. You’re awesome! Thank you for taking the time to make this stuff.

[@Lachronix]

Amazing job!! Thanks for all your updates on something none of us understand!!

[@Freddie_Dunning-Kruger_Jr.]

Trust is Expensive 🤯

[@noahkirkeide5797]

Great video! I appreciate the in depth analysis. This is the first long format video of yours I've watched. I used to see you all the time on tik tok.

[@josephlindsley5942]

Thank you for all your amazing videos Kyla!

[@mockingbird5919]

Hey Kyla, thank you for taking the the time to make a full video!! Your latest newsletter was on my 2-read list but I always appreciate when you find the time to do these higher effort narration vids! What a complicated and less covered problem, the word “insurance” Immediately causes people’s eyes to glaze over and zone out - and this is coming from someone who works in insurance. Still, it’s an extremely important puzzle piece to the home ownership crisis. Supply, demand, addressing public concerns on private equity - good points of discussions but the home insurance piece and finding and implementing solutions should arguably be first.

[@Rkcuddles]

Grrr I absolutely agree with you. Instead of building housing, they are just making it easier for first time home owners to afford high interest loans with very little down payment. Asset prices keep going up, home insurance and property tax keep going up… and average debt just keeps going up.

[@Poocher77]

I have a belief that we are going to have to push legislation at the state and federal level that cracks open the sanctity of private property when it comes to flooding. We could absolutely reduce flooding in key areas with better land and water management practices. It is so eminently fixable if but no one wants to eat the cost right now to address all the mistakes we've made over the past 100 years of development.

[@skyjacobs]

The homebuilders deserve more scrutiny in regards to these issues. The quality of construction today is abysmal, leading directly to more home damage in natural disasters, and in general. The choice of construction materials and design is done as cheaply as possible to maximize profits with little or no regard to the potential issues locally, eg flooding, fire, wind, hail, etc. For example in fire-prone areas a metal roof, some siding changes, and other small design and materials choices could dramatically reduce the number of homes burned. Better building design and materials can easily withstand most wind damage events, but large homebuilders do little. Cost differences are often minimal and likely acceptable to home buyers for piece of mind. At least locally large home builders, which are most new houses built these days, have huge profit margins and could easily build better quality, but choose to go cheap and pocket the difference.

[@user-zu5do6ri6r]

Why would they do a propper job when people are going to pay regardless?

[@GKjones1991]

The corruption and not following regs and laws while massive residential and commercial development is going on blows my mind. I worked in stormwater and the amount of engineers and inspectors that will just go right on along with a contractor or municipality is frightening.

[@jondonron]

American people don't know how to build houses houses are builder out of concrete not wood so it'll last longer

[@jamesbowen2258]

It really depends on where you are. Where I live, construction quality has been going up and up for decades.

[@sindyarenas5758]

The government should be competing with the market by making homes themselves

[@marcusmoonstein242]

A friend of mine visited Mauritius, a tiny island nation in the middle of the Indian Ocean. They regularly have severe tropical storms, but rather than giving up they adapted. One of these adaptions is a building code that requires that all buildings be built of reinforced concrete, including the roofs. The buildings look surprisingly normal but can withstand storms that would flatten any wooden structure. This is not an insurmountable problem. EDIT: It also just occurred to me that in South Africa the government prohibits any building in zones it deems "unsuitable" because of geologic, flood, fire or other risks. If you look at the city maps there are often swathes of densely built-up areas around pockets of open land for this reason.

[@shinzontheta]

Thank you for your content...your replaced my favorite source for economics content cause you have such a succinct way of speaking that seems to maximize learning density per unit.

[@dtd951114]

I work in the commercial insurance space and all of your points are spot on! Property insurance for homes and commercial businesses is very difficult place right now for the reasons you outline. Thanks for the video, I learned some things.

[@JJV7243]

Simply put - the amount of money each home pays for insurance needs to be directly proportional to their risk. Secondly, places where its too risky to insure a home for cheap, needs to have people slowly move out. There is no other solution even if its unpopular.

[@anabolicamaranth7140]

That’s true but the percentage of the planet that is habitable and has a reasonable risk profile is shrinking.

[@SigFigNewton]

I basically agree with this. Organisms inhabit places that are habitable. People should be made to spend their own money to pick less habitable places to live in, not get subsidized by those who live in places that aren’t a big drain on society.

[@JJV7243]

@@anabolicamaranth7140 Sure. But the total area that humanity NEEDS to live in is quite small. If the entire globe were to live in high density cities - humanity could all fit in the state of texas. This is a really small fraction of the total globe.

[@anabolicamaranth7140]

@@JJV7243 People don’t take up much room but their ecological footprint is massive. You’re not going to grow your food on your balcony, esp if you eat bison burgers.

[@jeltoninc.8542]

@jjv243 lmao 😂 to be so ignorant must be blissful beyond comprehension! But, here in reality, I’d like you to explain to me where this “miracle city unaffected by weather and nature” would be. Second, explain to me how you move all the people from uninhabitable places to this place. Lastly, who takes care of the needed jobs in said uninhabitable places?

[@Twangaming]

I appreciate how well researched this is and that you display your sources. Well done!

[@MrMercSoldier]

Thanks for the great video Kyla!

[@highthereguys]

You fix the insurance issue by deflating the property bubble. Less valuable houses = cheaper insurance

[@tealkerberus748]

That doesn't work when they deem a house to be a bad risk at any price.

[@markallen6433]

The price to rebuild is based on the value of the building. Not the value of the property. You can't change the price to rebuild unless you change the nature of the building or the material supply chains and labor that feed the process of construction

[@Fealox]

Incredibly fascinating video! Really illuminated an issue I didnt even know existed! I really hope the risk can be balanced in by government and other stakeholders - we all need it!

[@auglon]

Honestly, a lot of financial services, like banking and insurance, could just be fully automated. Nationalize and automate them. And when your house is torn downstream by flash floods, an army of robots should show up and carry you to the safety of floating pontoons made of recycled landfill, and build you a new house. That’s the future, man. It’s going to be awesome. Thanks WALL-E.

[@erikw2460]

Your videos are just great. That’s all. Thank you!

[@nathanpeterson9386]

That is perhaps the coolest Jenga pile of books on the Internet

[@F0XRunner]

Dont forget about water access! Parts of California, Arizona, New Mexico, and Texas will be uninhabitable in our lifetime, even as they continue to build, due to dwindling ground water supplies. The SW is literally pumping itself dry.

[@jamesbowen2258]

More El Nino years will lead to more summer rainfall, which will both reduce summer demand and increase water supply.

[@sashamoore9691]

Only place that won’t be affected by water shortages is upper Midwest. I.e Great Lake states. Which is why the rich are buying homes there out of nowhere bc they want to mitigate climate change, heat, water shortages etc. that’s why scientists call Duluth Minnesota “climate proof Duluth”

[@noblelies]

There's plenty of water available. There's just too much greed and water wasted and mismanagement of resources.

[@Barf-so3qy]

Actually that water is used for agriculture. Not really sure about the idea that droughts are connected to affordable housing.

[@tealkerberus748]

If there's enough rainfall for agriculture, there's enough rainfall to maintain a household on the runoff from the roof. Put gutters on your roofs and a decent size rainwater tank and you have drinking water forever. If there isn't enough rainfall for agriculture, maybe don't go living in a desert.

[@martinross6416]

No taxpayer bailouts for rich people with homes. You bought it you deal with it.

[@teo565]

What you’re doing is incredible, great vid as always

[@tubejim101]

Great video. Two things come to mind. Fist, this feels like what happened to banks, before we had a central banking system. Wondering if an something like the central banking system, but for insurance, would "fix" the system. They could even have "over night borrowing rate" to insensitive money flow, like the central bank. Second thought: I'm thinking all this "problem" stems from the Hawaii fires. Think the insurance industry has no idea how they are going to pay to rebuild new homes and then re-insure them in Hawaii. If they ask for a government bail out, they might spark an insurance panic. If the government was slow to bail them out, their stocks would be sold off, and cause a market crash. Guess where all the insures money is. In the market that would crash, if they ask for help.

[@PointedHeels1]

Don't get me wrong I've always thought insurance companies were pretty crooked but also people that want to live in places with non-stop fires or the literal hurricane zone probably shouldn't be surprised if they either cannot get insurance or that it is insanely expensive. We all go in a pool of risk, and I'm not going to complain if I'm not having to help cover the risk of someone that chose to buy a house 10 m above sea level in hurricane country.

[@jeltoninc.8542]

Name a place without natural disasters. You’re going to eat your words sooner than later. Look at the freak storm that just happened to NC, GA, TN. Get off your high horse.

[@PointedHeels1]

@@jeltoninc.8542 yeah I live in Georgia. The point isn't that nobody that ever experiences a natural disaster shouldn't be insured the point is that people that live in areas that are known for having natural disasters every year shouldn't be driving rates up for the rest of us. If you want to own a mansion on the Gulf Coast you know exactly the risk you're taking.

[@bblauter]

Property taxes are even worse 😢 Once the house is paid for Insurance is a choice, property taxes are extortion.

[@acpote]

Yes who else hates paying for roads and clean drinking water? Such a grift.

[@bblauter]

5 acres and the property taxes are more than my mortgage and insurance put together.

[@bblauter]

@@acpote Hi, yes what are all the other taxes for? The ones on income, my local taxes from my income were over $20,000. That’s an addition to another over $20,000 in federal taxes, that’s not enough for my pothole roads and my well water. ?

[@acpote]

@@bblauter I don't know bruh you asked about property taxes, do some reading, why you asking some jerk on yt?

[@acpote]

@@bblauter taxes fund our society. If you don't like them run for office to change them or move to a place without roads. Admittedly not easy options but better then complaining on yt comments.

[@itsAlexMIA]

Nailed it as usual! Beacon of wealth has turned into the Beacon of debt 💸

[@sandybeach3576]

My apartment building's insurance was canceled because the insurance company claimed that there was mold and mildew on the roof. The apartment building is in Palm Desert, last I heard the Desert is a hot dry region.

[@bigb29952995]

As always, we need to focus on addressing the underlying issues by building more resilient housing and, of course, addressing climate change Specifically on the housing front it seems we have market-distorting regulations that obscure market signals that would otherwise incentivize us to build this more resilient housing we need. PS audio quality on this is rough. Mic would be a nice upgrade.

[@jeltoninc.8542]

Agree, people want to deny climate change. The real answer, at this point, is shutting down society altogether and reducing the population. We need to stop making forever chemicals, like plastics, if we hope to even make a dent in our effect on the climate.

[@MadTownHobby]

There's our favorite economic voice!

[@What_Now_111]

Not sure if I missed this bit but…it’s not home ownership is risky…it’s property ownership right? Cause if you own property you have this issue or if you’re a landlord you have this issue. You simply pass the buck to the renter/leaser…or are landlords somehow exempt from this issue?

[@Rick_Iz]

Brilliant master class on property insurance 🏆 Thank you!

[@randyreynolds1045]

in the 1990s hurricane Andrew caused the State of FL to insure homes directly.

[@johnwilson427]

Looks like peak real estate!

[@pristine3700]

loved your video! a bit of constructive feedback is invest a bit on a better microphone setup and/or try to cut on the echo, but very good content! better audio will take it to the next level! look foward to it

[@ecosignals]

I believe its coming shortly YaY 🎤

[@vWaLLBangz]

I can tell you as an insurance agent for a major carrier. It’s insane, the rates we are pushing. In some areas it’s the only option, as others may not be writing nee business. About 25% of rewrites are successful with rate reductions. Even if your credit is excellent, that ain’t shit if you are in a high risk zone. It’s the case with many carriers nowadays.

[@acamiln8354]

Where do water disappear when take it underground?

[@bevans8]

The insurer’s risk model is getting re-underwritten, insurance carriers are pushing back on homes that would’ve passed with flying colors during the mortgage process across the country. With mortgage rate “lock-in”, volatility in the insurance market, and the lowest levels of new construction the housing market is hurting even while borrowers are much better qualified than during the recession.

[@surfsnowair]

Very interesting video! The nihilism point about risk blew my mind.

[@cetriyasArtnComicsChannel]

my insurence went up 1.5k this year and I'm one of the lucky ones :D. hi from FL and no I don 't care for the weather but my job is hear and been looking to move north. I also think, having insurance really at the real rate insurance would mean a lot less houses sold or maybe keep the housing market less liquid.

[@dinosaurdude5668]

Great coverage, why are the large news organizations not talking about this!?

[@tylerrichman9]

Excellent video!

[@MaximilianTobias-r9f]

Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??

[@AdalayAliza]

Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders.

[@Abdumunimfattah]

I think l'm blessed if not I have met someone who is as spectacular as expert mrs Janet.. Highly recommended🙌

[@CamdenSailor]

Wow, I'm surprised to see Janet mentioned here as well. I didn't know she had been kind to so many people

[@CaseyAlfie123]

I'm also a huge beneficiary of her.. I thought myself and my family were the only ones enjoying Janet trade benefits

[@AutumnTatum-j9l]

​Though I started with as low as $17,000 actually because it was my first time and it was successful, she's a great personality in the state

[@Strykenine]

Really good video, I learned a lot. Thanks! edit: Usually in the comments I'll add something that I feel may have been missed, but this was exhaustive. The only thing missing was my seething disdain for people who ignored climate warnings for the last forty years.

[@DY-fn5iu]

I love your videos and get very valuable information and insight. I do have to point out that you need a good microphone though

[@0xModene]

Your southern slipped out in a couple places lol. Love to see it

[@djseiner]

Kyla, you are amazing. You do great research and tell it like it is. Glad that someone(s?) like you and Kamala are doing this. Btw I first heard you on Ritholtz (sp?) show. Thank you!

[@meltedsnowman9637]

This video aged well…

[@pack_yak]

I love the BlueLug sticker!!! great taste!

[@MichaelMacaluso]

Saw you on bridges podcast, I'm learning a lot. Thanks!

[@falsificationism]

Got my non-renewal notice last December...was only able to find an overpriced replacement policy last month. This issue is real. Someone remind me why there's even a thing called an insurance "company?" Why in the world insurance is a for-profit industry in the US is beyond me.

[@ripwolfe]

I'd like to know the impact of our single mindedness to own single-family homes has on insurance prices. I'd imagine that it'd be cheaper to insure a lot of smaller dwellings with shared walls, a shared roof, and shared plumbing that are part of a single large complex, or even better, part of a mixed use zone so that businesses can also contribute to covering the insurance.

[@FailBucketFilms]

So like, an apartment complex or condo? Many apartments in my area are utilizing the ground floor for businesses. This already exists my guy.

[@SigFigNewton]

Single family homes are definitely a drain on cities. The *much* higher amount of water pipes, gas pipes, pavement, power lines, etc. per person often means that suburbs get subsidized by poorer inner city neighborhoods.

[@atomicswoosh]

Big fan of your stuff! Great analysis, solid layout of a topic, please keep it coming! (Also can I suggest placing a set of googly eyes on your camera? It helps!)

[@ecosignals]

Congrats on moving out of the garage, and soon to be upgraded (~cardiod) microphone! 🎉 💕🎙 🚲 Miss bike stuffs tho, maybe random bike paraphernalia would be fun 😊

[@MillenialJoe]

Why does Kayla only have 50k followers? Please get this to 1M and educate the world 👏

[@gregchijoff9959]

It's exactly the same here, in Australia. Welcome to life in the glorious West.

[@ethanb4058]

Love these videos! Please get a basic mic 🙏

[@financeabcs]

New subscriber! 😊

[@FatherOBlivion]

Thanks for addressing this important topic. Now please address your audio quality 🙂

[@amozizzle7566]

Great video. Would you have a list of all the papers used in the video?

[@0trustt]

Ok but like…. Does home insurance NEED to be for-profit?

[@paulmaartin]

Yes and non profits aren't automatically good.

[@caryphillips4885]

Uh... Hear me out. Insurance might not even need to exist as an industry 😂

[@paulmaartin]

@@caryphillips4885 so you're going to hold the risk yourself like a big boy.

[@0trustt]

@@paulmaartin right but you could even go with a profit capped model... It's not like insurance needs to invest millions into cutting the r/d

[@0trustt]

@@caryphillips4885 right, could also have a govt backed model with low margins

[@DonaldMark-ne7se]

Preparing for the Impending Great Depression: Strategies for Thriving During The Great Reset. Wondering about the right timing for stock investments? Curious about the timeline for a complete economic recovery? Puzzled about how some individuals are generating over $450k in profits within months in the current market scenario? These questions have left me perplexed.

[@JacquelinePerrira]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge

[@kevinmarten]

45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.

[@Jamessmith-12]

Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?

[@kevinmarten]

Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@Jamessmith-12]

Insightful... I curiously looked up her name on the internet and I found her site and i must say she seems proficient, thanks for sharing.

[@tristan7216]

Windstorm zones: no go. Too much destruction. Desert/forrest WUI: no go or adapt architecture Snow/heat: adapt architecture Earthquake: same old building codes Dense urban metros surrounded by barriers to keep out fire where needed: preferred (generally more defensible using shared resources) The house in the country is probably over in a lot of places.

[@jeltoninc.8542]

Nap time for you

[@ryanbrumm9011]

What are your thoughts on how companies that provided necessary/government mandated products should be regulated? I'm thinking things like homeowners/renters insurance, Internet service providers, power/energy companies? Consumers typically have no choice or are required to purchase products, and a system like California's is ineffective, but no regulation is also not the answer

[@SigFigNewton]

I’ve been considering studying the Texas grid situation to develop my thoughts on this.

[@jackquinn1107]

Good discussion. Unfortunately, the "federal flood coffers," used to help re-build homes of folks who have purchased federal flood insurance, (not many in Florida), are running dry. What's worse, is that these flood-rebuilding funds require federal, bi-partisan agreement on how to re-fund them. Our divided and fractious government makes that difficult and things are only becoming more polarized. Not all agree on what role the federal government should play in bailing out homeowners who, on their own accord, choose to live or build in known "high risk" areas. Its the old "fool me 4x..." reference Ms. Scanlon so insightfully refers to. In the not-to-distant future, if these massively destructive storms persist, unless you are willing to self-insure, (and more importantly, can afford it), you won't be living by the sea in Florida. 1% only please. The other 99%? You may have head back to the North East.

[@JCurcio]

It's hard to imagine how insurance can continue as an industry based on what is quite commonly understood in climate science now. We're on borrowed time.

[@Leftistattheparty]

One thing that could elevate the housing crisis (to a small degree) would be mandating that if a job can be done remote that it has to be hybrid. This would allow people (me as an example) to change jobs or just move to a different place. I live alone in a 3 bedroom house. I have to live in the area because my job demands i come in even when i could do 100 percent remote.

[@TKYCeq]

the question is, how do we get people to see that there are deeper rooted problems that need to be solved? it feels like if we dont hunker down and fix this stuff, as a gen z, my future is kinda fucked looking towards retirement. there are a lot of other issues going on, but at the end of the the day the potential crisis and disaster we are facing makes needs to be the focus over anything else.

[@ecosignals]

The world has a problem: The American Dream ~ A nightmare. More specifically, infinite growth. Until we fix the systems, at best we make the rich richer, the middle class poor, and the and squeeze the poor into oblivion. At. Best. "The market demands more than reality... It's not about what NVidia can do. It's about what NVidia can do beyond expectations. That margin between expectations and reality is shrinking." - KylaScanlon

[@BasicPrinciplesGTA]

There wont be a retirement for gen z my guy. The day we can no longer hustle to make ends meet is the day we keel over and die. Maybe that's how nature intended it to begin with.