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Saving For a Space Ship

Could the Miami Hurricanes & Other Weather Disasters be a Black Swan Event ?

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News reports of 90% of island areas devastated, yet the Gov has no money for repairs. 

Miami looking like it could also be ruined, with only 34% of property insured .Could this be the big one ?  

Other coinciding events like Mexican Earthquakes, other floods.

Live feed - storm porn 

 

Edited by Saving For a Space Ship

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4 minutes ago, wotsthat said:

I hope not, I want to buy my own house badly, but not off the back off misery and suffering

Are you meaning to imply that falling house prices cause hurricanes?

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Ok, here's a broader question - are these natural disasters likely to cause monetary inflation - ie higher demand without capacity to produce enough? 

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1 minute ago, Mine the wheatfield said:

No - besides I have no wish to live in Florida.

Its nigh on impossible for most Brits to move permanently to the US anyway without family sponsors. Its not like Oz or Canada where skills matter.

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1 hour ago, Saving For a Space Ship said:

Miami looking like it could also be ruined, with only 34% of property insured .Could this be the big one ?  

Other coinciding events like Mexican Earthquakes, other floods.

A lot of property has been destroyed, so remaining properties become more valuable. If people do have insurance or savings they can bid up prices, but many poor people will just couchsurf with friends or relatives or whatever.

It's a blow to the insurance industry, but it doesn't seem likely to cause financial instability or a recession.

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2 minutes ago, Kosmin said:

A lot of property has been destroyed, so remaining properties become more valuable. If people do have insurance or savings they can bid up prices, but many poor people will just couchsurf with friends or relatives or whatever.

It's a blow to the insurance industry, but it doesn't seem likely to cause financial instability or a recession.

 

Is that what happened in New Orleans after Katrina ? 

Edited by Saving For a Space Ship

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5 minutes ago, Saving For a Space Ship said:

Is that what happened in New Orleans after Katrina ? 

I think the impact of Katrina was minimal on the USA as a whole. I think the impact on Houston and Miami will probably be similar.

 

 

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9 minutes ago, Kosmin said:

It's a blow to the insurance industry, but it doesn't seem likely to cause financial instability or a recession.

Unless maybe the insurers have underestimated the likelyhood of big hurricanes as I understand there are a number of years when the are frequent then years when they arent.

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2 minutes ago, nightowl said:

Unless maybe the insurers have underestimated the likelyhood of big hurricanes as I understand there are a number of years when the are frequent then years when they arent.

They have probably underestimated, but I think the financial impact is unlikely to be extreme. Traders will have been watching the weather reports and there hasn't been a big response. They could be getting it wrong, but I suspect the insurers will be OK.

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My BTL landlord friend has a house in Florida, payed for using tenants money.. I know this as they are a work friend and on the bottom run of the wages structure and are still 100'000 times richer than me.. with all their properties.. 

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1 hour ago, Si1 said:

Are you meaning to imply that falling house prices cause hurricanes?

See, the way it starts is a butterfly flaps its wings in Tanzania...

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I've said it before on here and been called a nutter.. but scientist are predicting some fairly substantial sea level rises before 2100..  enough to flood coastal towns, it's all mad talk.. till it starts happening.. 

think of it like a banking crisis.. there is no crisis.. oh bugger the banks just collapsed! 

https://www.google.co.uk/amp/s/www.newscientist.com/article/mg22630253-300-latest-numbers-show-at-least-5-metres-sea-level-rise-locked-in/amp/

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2 hours ago, Si1 said:

Ok, here's a broader question - are these natural disasters likely to cause monetary inflation - ie higher demand without capacity to produce enough? 

 

52 minutes ago, Kosmin said:

A lot of property has been destroyed, so remaining properties become more valuable. If people do have insurance or savings they can bid up prices, but many poor people will just couchsurf with friends or relatives or whatever.

It's a blow to the insurance industry, but it doesn't seem likely to cause financial instability or a recession.

 

22 minutes ago, rollover said:

What about Puerto Rico? Went bankrupt and now badly hit by hurricane.

The more I think about it the more I think hurricanes seem like the perfect pretext for a debt jubilee.

http://www.housepricecrash.co.uk/forum/index.php?/topic/230095-deflationary-collapse-and-the-reflation-cycle-to-come/&do=findComment&comment=110328084

 

Edited by Will!

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1 hour ago, macca13 said:

I've said it before on here and been called a nutter.. but scientist are predicting some fairly substantial sea level rises before 2100..  enough to flood coastal towns, it's all mad talk.. till it starts happening.. 

think of it like a banking crisis.. there is no crisis.. oh bugger the banks just collapsed! 

https://www.google.co.uk/amp/s/www.newscientist.com/article/mg22630253-300-latest-numbers-show-at-least-5-metres-sea-level-rise-locked-in/amp/

Apparently the US has had 12 fairly quiet years before this year regarding hurricanes, so I don't see why people are playing up the environment angle.

 

Having said that, when I flew in the Miami airport for a holiday, I noticed greedy developers had built billions worth of property in places that would get badly flooded or even destroyed by a storm surge from a once 20 years big storm.  

 

So yes there could be a lot of loses, this would have been solved by the developers not being so greed with where they build.

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3 minutes ago, reddog said:

Apparently the US has had 12 fairly quiet years before this year regarding hurricanes, so I don't see why people are playing up the environment angle.

Because they're desperate for any way to keep the trillion-dollar 'Global Warming' scam going.

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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