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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (19928)	9/8/2017 12:13:10 AM
From: John Pitera	2 Recommendations Recommended By sixty2nds The Ox Respond to of 33421

Hi Don, We have property in Florida, and after the 4 Hurricanes of 2004 hit , I believe a fairly tight cap was put on Coastal Properties... It might be 1.5 Million.... Probably more like $3 million. And that may have been adjusted a bit for inflation....... ( stock market and real estate asset inflation) though probably not. As you know there are many $10 Million $20 million and up properties along the Florida coast. Heck, DJT's Mar-a-Lago is worth $100 to $200 million I would suspect, although it's a business as well as a personal residence and you can always go to Llyod's of London or other firms and buy insurance. But the amount that the state of Florida will cover has a hard cap and the state's high risk insurance pool. Which is basically everyone anywhere near the water is going to be so many $100's of Billions of dollars in the Red that Florida will have to go hat in hand to Uncle Sammy up in DC looking for that good old US Government bail out. I am truly praying for you. A most excellent observation. What has been interesting today is watching large private jets flying into Palm Beach Int. Airport. The airport has greatly reduced commercial flights into the airport due to the storm, but at the same time the hundreds of super rich many Wall Street types who have winter and full time residences in the area seems to be boarding up and taking out expensive items "paintings"? out of their homes and in their own super rich are boarding up and flying out. Leaving the massive estates for the help to pickup up. I read somewhere that many of these super rich who have such massive homes on or near the ocean they don't even have homeowners insurance on them because in many cases no company would issue a policy. Interesting times ahead It's a heck of lot more than just painting ... both you and I and I imagine everyone reading this thread knows that. John

To: Don Green who wrote (19928)	9/8/2017 12:27:39 PM
From: robert b furman	4 Recommendations Recommended By John Pitera Ken Adams roguedolphin The Ox Read Replies (1) \| Respond to of 33421

HI Don, Praying that you and family stay safe during this storm. Fox interviewed a woman in Houston yesterday as she returned to find her flooded home. Her emotional stability was inspirational. While being interviewed the TV reporter asked how she was so calm amidst the devastation. Her reply was "Keep your priorities in check. Know that the lord cares for you in bad times as well as the good times. Hold onto your material things loosely, as they can all be replaced. I have my health and my family - that is what I care about! WOW what solid advice for all Americans / humans on this earth. When it is darkest and windiest - remember "This too shall pass" Best of all! Bob