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bsrsharma
ParticipantA low tech method with no taxation would be for people to keep goats and sheep as pets. You get both vegetation control and milk/wool if you choose to “harvest”. Their manure is better organic fertilizer than dog nuisance. No bites and barking too! In Portland, Oregon, the city uses this technique for vegetation control of hill sides to prevent fires. They call a farmer who throws up a temporary fence and the shrubbery is gone in a few days. The animals can trim pretty steep hillsides where no human or machine can reach.
bsrsharma
ParticipantI think the single most important factor, besides psychological trauma, is insurance. If insurance rates jump up by a factor of 10, definitely there will be a serious impact on prices. Even more if insurance simply becomes unavailable for certain areas. Nothing to kill values faster than the knowledge that one can’t get insurance. The Billion $ loss has to come from somewhere, and the most likely place is insurance premiums. If the $1000 p.a. premium jumps to $10,000 p.a., a lot of potential homebuyers suddenly can’t afford to buy anymore.
bsrsharma
ParticipantI think the single most important factor, besides psychological trauma, is insurance. If insurance rates jump up by a factor of 10, definitely there will be a serious impact on prices. Even more if insurance simply becomes unavailable for certain areas. Nothing to kill values faster than the knowledge that one can’t get insurance. The Billion $ loss has to come from somewhere, and the most likely place is insurance premiums. If the $1000 p.a. premium jumps to $10,000 p.a., a lot of potential homebuyers suddenly can’t afford to buy anymore.
bsrsharma
ParticipantI think the single most important factor, besides psychological trauma, is insurance. If insurance rates jump up by a factor of 10, definitely there will be a serious impact on prices. Even more if insurance simply becomes unavailable for certain areas. Nothing to kill values faster than the knowledge that one can’t get insurance. The Billion $ loss has to come from somewhere, and the most likely place is insurance premiums. If the $1000 p.a. premium jumps to $10,000 p.a., a lot of potential homebuyers suddenly can’t afford to buy anymore.
bsrsharma
ParticipantI don’t have any equity
Just based on that information, I think throwing that monkey off your back may give you great relief. It is difficult to visualize any scenario that will be profitable for you. Just try to walk without getting hurt by tax consequences. If you have any recourse loans (HELOC, Second etc.,) you have to be a lot more careful and anyway you need a RE lawyer. If you have other serious debt problems, you should seriously discuss various bankruptcy options with the attorney too. You should not make any life changing decisions based on any advice from this board.
bsrsharma
ParticipantI don’t have any equity
Just based on that information, I think throwing that monkey off your back may give you great relief. It is difficult to visualize any scenario that will be profitable for you. Just try to walk without getting hurt by tax consequences. If you have any recourse loans (HELOC, Second etc.,) you have to be a lot more careful and anyway you need a RE lawyer. If you have other serious debt problems, you should seriously discuss various bankruptcy options with the attorney too. You should not make any life changing decisions based on any advice from this board.
bsrsharma
ParticipantI don’t have any equity
Just based on that information, I think throwing that monkey off your back may give you great relief. It is difficult to visualize any scenario that will be profitable for you. Just try to walk without getting hurt by tax consequences. If you have any recourse loans (HELOC, Second etc.,) you have to be a lot more careful and anyway you need a RE lawyer. If you have other serious debt problems, you should seriously discuss various bankruptcy options with the attorney too. You should not make any life changing decisions based on any advice from this board.
bsrsharma
ParticipantOn a more general note, after this catastrophe, will there be a premium for homes that can be shown to be fire resistent (with construction materials/techniques, foam coating etc.,)? I saw a video of AIG spraying fire retardant foam at their own expense on high end homes to save paying replacement costs. The woodframe based construction seems very inadequate and unsuited to SoCal weather. Greater use of metallic or non-combustible building materials should be encouraged both through building codes and market demand. If enough potential buyers start getting cold feet buying wood framed homes, that can start a trend. How many of you potential buyers will pay attention to fire resistance in your future home purchase decisions?
bsrsharma
ParticipantOn a more general note, after this catastrophe, will there be a premium for homes that can be shown to be fire resistent (with construction materials/techniques, foam coating etc.,)? I saw a video of AIG spraying fire retardant foam at their own expense on high end homes to save paying replacement costs. The woodframe based construction seems very inadequate and unsuited to SoCal weather. Greater use of metallic or non-combustible building materials should be encouraged both through building codes and market demand. If enough potential buyers start getting cold feet buying wood framed homes, that can start a trend. How many of you potential buyers will pay attention to fire resistance in your future home purchase decisions?
bsrsharma
ParticipantOn a more general note, after this catastrophe, will there be a premium for homes that can be shown to be fire resistent (with construction materials/techniques, foam coating etc.,)? I saw a video of AIG spraying fire retardant foam at their own expense on high end homes to save paying replacement costs. The woodframe based construction seems very inadequate and unsuited to SoCal weather. Greater use of metallic or non-combustible building materials should be encouraged both through building codes and market demand. If enough potential buyers start getting cold feet buying wood framed homes, that can start a trend. How many of you potential buyers will pay attention to fire resistance in your future home purchase decisions?
bsrsharma
Participantmy gut tells me that something smells awfully fishy here
Your analysis is mathematically first rate; the only problem is, these types of tandem fires have happened, like, a dozen times, in my own memory. All during these periods of hot dry winds in early fall. That seems to suggest natural causes rather than a regular epidemic of "fire bugs". After all, in south east they regularly get hit by multiple tornadoes per season and multiple hurricanes/flooding per season. Can't be "Water bugs" or "Wind bugs".
bsrsharma
Participantmy gut tells me that something smells awfully fishy here
Your analysis is mathematically first rate; the only problem is, these types of tandem fires have happened, like, a dozen times, in my own memory. All during these periods of hot dry winds in early fall. That seems to suggest natural causes rather than a regular epidemic of "fire bugs". After all, in south east they regularly get hit by multiple tornadoes per season and multiple hurricanes/flooding per season. Can't be "Water bugs" or "Wind bugs".
bsrsharma
Participantmy gut tells me that something smells awfully fishy here
Your analysis is mathematically first rate; the only problem is, these types of tandem fires have happened, like, a dozen times, in my own memory. All during these periods of hot dry winds in early fall. That seems to suggest natural causes rather than a regular epidemic of "fire bugs". After all, in south east they regularly get hit by multiple tornadoes per season and multiple hurricanes/flooding per season. Can't be "Water bugs" or "Wind bugs".
bsrsharma
ParticipantEmotions aside….
In cases of extreme loss, the market gets depressed as the people severly hurt like to stay away from the place of loss. Look at south Florida after major hurricanes and NOLA after Katrina. Mass psychology has its tipping point too.
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