Flood insurance rate hike causes massive beach home...

The new flood insurance law goes into affect October 1 unless there is an 11th hour stay of execution. Signed in 2012 was the Flood Insurance Reform Act. This law eliminated the government subsidies put in place to make flood insurance more affordable. 

The media says the new law will drive beach home prices up!

What?

How does the increase in flood insurance premiums of an estimated ten fold, drive up home values?

What I do see is the little Ma and Pa beach cottages and houses, that line our beautiful Florida beaches will go bankrupt. And the investment heavy, high rise motels and hotels will have a monopoly for beach tourism and pass the new hefty profit bill to you!

I am advocate for smaller government and let the free markets be free, but this type of change should have been better planned. It's like being rear ended by a car doing 100 mph and you are only doing 10. This is a serious accident.

Just saying!

Curtis Rudolph Realtor®

www.CurtisRudolphRealtor.com

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Realty Direct Tampa