Real Estate Crash thread

[liv2ski]

It may not matter due to location, but anything that is 5 feet above water level is a hard pass for me. Flooding can be a major PITA.

[altasnob]

I had no idea the water levels of the great lakes fluctuated so much.



Good article on how Chicago is just as fucked as coastal cities:

https://www.nytimes.com/interactive/...-michigan.html

[4matic]

If you enjoy the island for ten years~ before it floods its all good. No different than buying a new car.

[lifelinksplit]

That's awesome Harry! Just build a freaking treehouse cabin if flooding is a concern. I can taste the fish fry and brandy old fashioneds from here.

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[dan_pdx]

That's awesome Harry! Just build a freaking treehouse cabin if flooding is a concern. I can taste the fish fry and brandy old fashioneds from here.

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Ha, I was thinking the same thing: treehouse, stilts, etc. Might be a challenge for an outhouse, but would work for the main house. Never have to worry about getting snowed in in the winter either.

[Bobcat Sig]

Ha, I was thinking the same thing: treehouse, stilts, etc. Might be a challenge for an outhouse, but would work for the main house. Never have to worry about getting snowed in in the winter either.

Yahbut if he had a toilet up high in that treehouse, he'd have the third-floor bathroom... just without the first two floors.

[Skidog]

Ha, I was thinking the same thing: treehouse, stilts, etc. Might be a challenge for an outhouse, but would work for the main house. Never have to worry about getting snowed in in the winter either.

compost toilets...

tree house for the win..

[Meathelmet]

Might be a challenge for an outhouse

I'll reiterate what I suggested on the previous page: Potato cannon. Or in this case it could double up as a...well...you get it?

[Harry]

Island is officially under contract ! Close in 21 days.

FKNA. I really feel at home here.




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[4matic]

[Danno]

congrats dood.

[easyrdr]

Island is officially under contract ! Close in 21 days.

FKNA. I really feel at home here.
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Congrats dude. Nothing better than operating permanently on island time.

[Toadman]

Island is officially under contract ! Close in 21 days.

FKNA. I really feel at home here.




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Sweet! Congrats.

[Toadman]

[Kevo]

Get ready for insurance refugees to invade non-coastal, non-flood prone areas.

"On Friday, the Federal Emergency Management Agency will incorporate climate risk into the cost of flood insurance for the first time, dramatically increasing the price for some new home buyers. Next April, most current policyholders will see their premiums go up and continue to rise by 18 percent per year for the next 20 years."

https://www.washingtonpost.com/clima...-through-roof/

[schuss]

Get ready for insurance refugees to invade non-coastal, non-flood prone areas.

"On Friday, the Federal Emergency Management Agency will incorporate climate risk into the cost of flood insurance for the first time, dramatically increasing the price for some new home buyers. Next April, most current policyholders will see their premiums go up and continue to rise by 18 percent per year for the next 20 years."

https://www.washingtonpost.com/clima...-through-roof/

Finally.

[alpinevibes]

Get ready for insurance refugees to invade non-coastal, non-flood prone areas.

"On Friday, the Federal Emergency Management Agency will incorporate climate risk into the cost of flood insurance for the first time, dramatically increasing the price for some new home buyers. Next April, most current policyholders will see their premiums go up and continue to rise by 18 percent per year for the next 20 years."

https://www.washingtonpost.com/clima...-through-roof/

BendBozemanButteBillingsBoiseBoulderBellingham'Buq uerque

[schuss]

BendBozemanButteBillingsBoiseBoulderBellingham'Buq uerque

Note this line:
"According to QuoteWizard, the list of homes in Utah that are at risk of being damaged by rains grew by 91,000, a 416 percent increase from what was previously known. Wyoming’s 27,000 additional homes represent a 325 percent increase, and Montana’s 92,000 additional homes represent a 311 percent increase."

[alpinevibes]

Note this line:
"According to QuoteWizard, the list of homes in Utah that are at risk of being damaged by rains grew by 91,000, a 416 percent increase from what was previously known. Wyoming’s 27,000 additional homes represent a 325 percent increase, and Montana’s 92,000 additional homes represent a 311 percent increase."

Paywall... didn't read it, but I believe it!

[zion zig zag]

Get ready for insurance refugees to invade non-coastal, non-flood prone areas.

"On Friday, the Federal Emergency Management Agency will incorporate climate risk into the cost of flood insurance for the first time, dramatically increasing the price for some new home buyers. Next April, most current policyholders will see their premiums go up and continue to rise by 18 percent per year for the next 20 years."

https://www.washingtonpost.com/clima...-through-roof/

Have you found a link to a map that shows the new flood zones? I see a link to map with increased/decreased premiums but looking specifically for a map that shows zoom-able flood zones in all states.

[yeahman]

Island is officially under contract ! Close in 21 days.

FKNA. I really feel at home here.




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Dude! That's incredible. You bought an island. Congrats!

[Danno]

I don't think the increased cost of flood insurance will cause mass migration. It will just cause lower property values in those locations.

The mass migrations happen when the reason for those increased costs -- ie increased likelihood of floods -- comes to pass.

[Kevo]

Have you found a link to a map that shows the new flood zones? I see a link to map with increased/decreased premiums but looking specifically for a map that shows zoom-able flood zones in all states.

I haven't found one yet. I did look at the county ArcGIS before buying here in ID to make sure I wasn't in a 100 or 500 or 1000 year flood plane.

Somehow I was able to read the article without a WaPo subscription. It mentioned someone in Iowa looking to buy a $289K property and finding out that the flood insurance was $2700 per month

Also of note- the Teton Fault has been pretty active historically (but not recently), so I have an earthquake insurance policy. It's cheap and worth the peace of mind IMHO.


@Harry- I haven't followed this thread recently, but I'm aware of you moving to the mid west from Big Sky. AN ISLAND??? Congrats man! You gotta post pics.

[ötzi]

Dude! That's incredible. You bought an island. Congrats!

Seriously. I looked back in the thread for details but did't see them - what body of water is it in? How much land is it? How far from shore? What's the closest town? Feel free to point me to a post or tell me to fugoff but I'm curious. Congrats man, the pics look cool.

[Benny Profane]

I think a still would be appropriate.