Probably because is significantly more to post numbers that are relevant to most people? That CPI data is well known to be intellectually dishonest to tout as a true inflation indicator? That's why politicians use it.
Surging home insurance costs could force families to leave these 10 states (OK is one)
- Thread starter chuter
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Probably because is significantly more to post numbers that are relevant to most people? That CPI data is well known to be intellectually dishonest to tout as a true inflation indicator? That's why politicians use it.
https://www.marketwatch.com/story/t...2022-at-18-and-still-hovers-around-8-cc89ea6b
The CPI used to reflect borrowing costs
There is an interesting footnote to this discussion: The consumer price index up until 1983 included consumer borrowing costs. According to the researchers, the Bureau of Labor Statistics reflected these costs by “taking house prices, mortgage interest rates, property taxes and insurance, and maintenance costs as inputs.”
Insurance has 0 do do with the government lol.
Spoken like a real financial guru...
It absolutely matters when they drop it. Insurance policies for property are typically written as a year long contract, they assess their risk and offer a renewal accordingly.
OR......
So the government should force insurance companies to cover homes because banks require it? That doesn't sound familiar to you at all? I mean because I can sit here and tell you all about the disaster the affordable health care act/obamacare is.
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Insurance?? I was talking about inflation under Biden & trump, & was referring to the govt cpi/inflation report on the economy. I wasn’t referring to insurance in any way. What the heck are you talking about??
I was talking to another member about inflation & Your unsolicited comment has nothing to do with our topic.Guru, lol what a dufus. I know reading comprehension isn’t your strong point, but try to keep up. Good grief
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Ok, I'll play. Miss the entire point much?
So that I understand, you are so rich that inflation and Bidenomics don't affect you? Yeah, that must be nice. That checks out with almost every truly wealthy person I've known. Almost none of them care what something costs as long as they have cash to cover it. Uh huh.
Completely separate question for no particular reason, do you feel that shoving large quantities of edibles down a person's throat could impact their reading comprehension negatively? Just curious.
At the end of the day what is going on is more wealth distribution. If you have any wealth, they want it. They will tax you for it or they will devalue the currency so what you have is worth less and take more that way. It is a grift for power and control.
I suppose anything is possible. Personally I believe it’s more about laziness and recent trends towards off loading rate setting. Actuaries set rates, underwriters don’t. Underwriting is a dying job anyway… they’re being replaced by software. Most companies offload their rate setting to algorithms anymore. They all probably buy similar software packages from a select few companies. (Cambridge Mobile Telematics does pretty much all the software for insurance companies drive tracking, most insurance companies use the same satellite imagery company to do “surveys” of homes…) as large as the top insurance carriers are what would their benefit be in easing rates just so an investment company could buy homes? The payouts would be in the billions. Most of the top carriers are public ally traded and they all came out and stated they didn’t anticipate the pace of inflation and the number of claims going up as well. Nobody supposedly saw it coming when “regular” people saw it everyday. What’s much more likely is they all use similar actuarial software and didn’t want to take the risk of going against the tide. If they all miss then they all raise rates at the same time and don’t bleed market share.
