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No Easy Answers to Florida Insurance Crisis

In Florida and other coastal areas, the cost of homeowners insurance often is greater than the combined price for principal and interest on a mortgage. Real estate professionals say insurance costs are driving away home owners and buyers who simply can’t manage prices like these. At a meeting in Orlando, home owners and business people discussed potential solutions, but concluded that there are no obvious answers. Possibilities include a national catastrophe fund, but opposition to this solution runs deep, particularly in areas where residents see themselves as unlikely to be affected. Source: Orlando Sentinel

 

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