What happens when large areas are affected by this? As I understand it, most people with a mortgage are required to have homeowners insurance. If they don’t secure it themselves, the banks purchase it on their behalf. Some people in affluent areas might own their homes outright, but most non-Getbiggers don't. So, if no insurance companies are willing to cover an area, I wonder how the banks handle the situation?
As I mentioned, many of these people bought these homes in the 70s and 80s for $75-$150,000 and they now are "worth" millions but that's speculative and just like a judge valued Mar a Lago at 18 million, an insurance company will value their home WAY below what it's worth, you would have to get an attorney, so the residents will just beg insurance to give them pennies on the dollar and even then it will take a LONG time to settle a claim. Biden said he will cover 100% of the relief costs, but the way out is they'll say "they had insurance so their costs don't count and government gets the relief money to spend however the fuck they want. They'll have a "disaster relief committee" with DEI hires create a "rebuilding plan" which means how they plan to steal the money.
Meet Monisha Avery, she's the "chief equity officer" of the California Office of Emergency Services. Monisha is going to help decide the best way to spend the money. Monisha will work together with the LGBTQ "pride in emergency services FEMA crowd. They'll figure out the most equitable way the money should be spent.
And whitey had insurance so fuck em
