
Why should the people in Florida – especially the renters here have to pay a Sales Tax increase of about 2.5%?
so that the people owning and living in their expensive homes can have their Hurricane Insurance reduced!
It seems to me that if they afford to live in these expensive homes they should be able to afford to pay for their insurance themselves!
No one helps me pay for my Auto Insurance that is through the roof here in this Insurance Company controlled State!
This is BS!
PLEASE READ THE QUESTION BEFORE ANSWERING! -
OK, here’s a little lesson about renters – they pay ALL of the property owner’s expenses for the property they rent! Yep, you pay for the insurance, the property taxes, and the mortgage, so when your LANDLORD’S expenses go up, your rent goes up!!
Second newsflash – RENTERS HAVE HURRICANE CLAIMS! Yep, sometimes YOUR STUFF is damaged in a hurricane! If the place you live in is damage, you have to go live somewhere else, this is ADDITIONAL LIVING EXPENSE! And if you’re a renter and don’t have renters insurance, then 1. you’re likely violating your lease and 2. You’re not being financially responsible for yourself!!
And if you think your car insurance is bad in Florida . . . move to New Jersey. NJ has the highest auto insurance rates in the US, because the auto insurance industry is controlled by the GOVERNMENT.
And the direct answer to your question – because homeowners insurance rates have risen so drastically and fast in Florida for the past few years (what was $2,000 a year five years ago is now closer to $7,000 a year for a MODEST house) FL homeowners are NOT able to afford the premiums, and insurance companies STILL aren’t wanting to write new business.
This means, people are being FORCED by the mortgage and insurance rates, to sell their houses in DROVES. THIS means, real estate prices are falling, in some cases lower than the mortgage balance on the houses . . .
To sum up, Florida is looking at a HUGE real estate bust coming up in the next year or so, which will shrivel up the FL economy for all the people living there. There will be lots of bankruptcies and lots and lots of vacant properties – and not many buyers.
The politicians are trying to do something to save the Florida economy. Too bad they don’t realize, increased taxes never helps.

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