bhavik on Nostr: Credit - @Stack Hodler This week insurance companies watched the value of their bond ...
Credit - @Stack Hodler
This week insurance companies watched the value of their bond portfolios plummet at the same time that some of the most expensive real estate in the country burned to a crisp.
Insurers are looking at losses of at least $20 Billion.
This is why a lot of insurance companies have simply stopped providing coverage in California.
But if you can't get insurance for your home, you can't get a mortgage from a bank.
And neither can a potential buyer for your property.
What does that mean for property values?
And the banks that really own these properties?
The days of balance sheets being primarily packed full of real estate and sovereign debt are coming to an end.
You can't live in a Bitcoin.
But it will never burn to the ground or be endlessly devalued by a government either.
No doubt many insurance companies and banks are understanding the value of such an asset this week.
This week insurance companies watched the value of their bond portfolios plummet at the same time that some of the most expensive real estate in the country burned to a crisp.
Insurers are looking at losses of at least $20 Billion.
This is why a lot of insurance companies have simply stopped providing coverage in California.
But if you can't get insurance for your home, you can't get a mortgage from a bank.
And neither can a potential buyer for your property.
What does that mean for property values?
And the banks that really own these properties?
The days of balance sheets being primarily packed full of real estate and sovereign debt are coming to an end.
You can't live in a Bitcoin.
But it will never burn to the ground or be endlessly devalued by a government either.
No doubt many insurance companies and banks are understanding the value of such an asset this week.