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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: John Vosilla who wrote (42871)12/16/2005 3:04:50 AM
From: shades  Read Replies (1) of 116555
 
"We're in a crisis situation," McCabe said. "It's even affecting the middle class."

BWAHAHA - not a crisis while the poor starve to death - but oh my god - the middle class are getting hit now too! HAHA!

Suma said she was having a hard time finding insurance - this is true - hardly anyone will insure anymore:

customwire.ap.org

Citizens Property Insurance approves 44 percent rate hike

JACKSONVILLE, Fla. (AP) -- The board of Citizens Property Insurance Corp. unanimously approved Thursday an average statewide rate hike of 44 percent for homeowners in high-risk areas, putting aside a state senator's request that it be delayed until an audit of the company is completed in February.

The increase, which must be approved by the state Office of Insurance Regulation, is on top of a 16.2 percent increase in high-risk coastal areas that was approved last February. The regulation office's board may have public hearings in some areas of the state with large increases.

The increases don't factor in damages of up to $1 billion from Hurricane Wilma, which may force another round on price increases for Citizens, said Justin Glover, a company spokesman. The government-created company is the state's insurer of last resort, selling property and windstorm policies to property owners who can't get it from traditional insurers.

The increases approved Thursday will add about $1,028 to the average homeowner's insurance cost for a total average of $3,363.

A lot of Escambia county is higher ground than anywhere in else in Florida. All of Florida is prone to hurricanes and devastation," Harrod said. "Why Pensacola, but not Miami, Fort Lauderdale or Boca Raton?"

Meanwhile, the smallest hikes will be in Pasco County at 1.8 percent; Indian River County at 10.5 and Hernando County at 19.5 percent.

Meanwhile the development continues in dale bakers investment area:

stpetetimes.com

The proposed plan makes two big changes that could affect the upscale subdivision, which would have three golf courses and 1,749 houses, some expected to cost more than $1-million.

One change is new language that discourages development in rural areas "unless (existing residential) areas are predominantly developed and occupied (and) population projections indicate a need for additional urban development areas."

The rewrite also removed the Southeast Overlay Zone, which covered large areas of Spring Lake, including the ranch land.

That may be grounds for Hickory Hill to challenge the new plan, Varn said.

He said the zone was meant as a transitional area between the dense development in a 4,400-acre planned development district near Interstate 75 and the rural land near Spring Lake Highway.

The county decided to remove the zone without "any data and analysis to support" the action, Varn said.

King said that the only data needed was that the county currently has plenty of land designated as residential - enough for 150,000 new houses, he has said previously - to accommodate the predicted population increase in the county
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