The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (3378)	7/12/2002 9:21:32 AM
From: Tradelite	Read Replies (2) of 306849

Addendum to previously posted info about homeowner insurance rate increase... Some time ago, I posted on this thread some news about insurance rates for homebuilders going way up. The mold issue is a biggie for that industry, along with other issues, such as defective wood siding and fake stucco exteriors which have proven to be troublesome. Class-action lawsuits and insurance settlements have been taking their toll in these areas. Within the past decade, the issues of defective fire-retardant roofing material and polybutylene plumbing pipes were big deals in my area of the country and cost millions to resolve, if they got resolved at all. Homebuilders will, of course, include their extra insurance costs in the prices of homes. The extra costs are reportedly predicted to be exceptionally high for builders of multi-family housing, because apparently more construction issues arise there than with detached homes. Anybody agree that the cost of housing is going to go up more than it has already, and that the insurance companies will be a big factor in this? Or will buyers eventually get worried about new construction and prefer existing homes that have proven track records of construction stability? Interesting to ponder what the future might bring.

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