by SQT15 follow (0)
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Veritas
I hope this is what you had in mind. Anything I forgot, just let me know and I'll add it.
OT: My husband and I have watched the hurricane's hit Florida year after year and wonder how the housing market on the coast manages to keep appreciating. I've seen news stories where folks are bracing for the coming storm, and they haven't even rebuilt from the one from last year.
And after seeing all those houses fall down a slope in Laguna this year, I swear I will never buy a house on a hill. Not to mention most of those homes were uninsured because no insurance co. would cover such an obvious risk. I can't even begin to imagine living in a house that I couldn't insure; you'd have to be nuts or so rich it wouldn't matter. But even so, why would you want to live in a place that could slide down a hill in the middle of the night. If you can't insure it the risk must be very real. There isn't a view in the world that would be worth it.
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Per Veritas' request:
Florida has hurricanes, Las Vegas has heat, California has the threat of earthquakes-- not to mention thick unhealthy smog.
As you look at buying a house, or renting for that matter, what factors influence you? Does the threat of hurricanes, earthquakes or tornado's affect where you buy? What about environmental factors? California has many areas where water has to be piped in, as does Arizona and Nevada. L.A. is notorious for the smog. And yet, in all likelihood most people have to live in an area where one or more of these dangers are present in order to live near work and family. Is this an issue for you?
What is your definition of a “desirable area?” Do environmental/natural disasters impact your thinking when you look for a place to live? Where do you think your "happy home" will be found?
What about the sellers? Do you think areas like the Florida coast which has seen lots of hurricane activity in recent years is going to continue to be a hot market? What impact, if any, does the environment have on asking prices? Has the market been so hot that these factors have been so far overlooked? And if so, will a downturn affect these areas more?
#housing