Is the Catalyst for the Next Financial Crisis… Homeowners Insurance?
17th January 2025
Over the past half-century, tens of millions of Americans have poured into sunny states like Florida and California that are catastrophically unsuited for large populations. Specifically, the former is in hurricane alley and is guaranteed a direct hit from a Cat-5 one of these days, while the latter is a desert prone to droughts and raging wildfires (see today’s news).
While this ill-fated mass migration was happening, the federal government was inflating away the dollar, causing the prices of financial assets like homes — especially in popular coastal cities — to soar to stratospheric highs.