This guy is pretty good, he makes one key point but then doesn't take it to the next level.
Harris discusses a 25k credit for first time home buyers. What good is that going to do you if your *insurance* is 10k per year.
In many areas, insurance is getting to the point where insurance costs are as much as the mortgage. And you can't get a mortgage without insurance.
So we end up in a situation where the only feasible housing market is cash buyers who self insure, in some parts of the country. Anywhere near a tree that might burn or a river that might flood.
My insurance in MV is 1/5th the amount of the insurance on the Tahoe place, despite being worth 4x as much. Or is it worth even more, given who can buy the Tahoe place at what price if insurance is what it is? I don't own a lot on the property, there is a very real consideration to paying off my loan (at 3% !!!) just so I can go naked on the insurance. But if I do that, I have to stop the VRBO due to liability, or just get a liability rider.
It will be very interesting to see the Florida condo market when the special assessments start rolling in for the HOAs. If you try to go naked to lower the HOA, some people will say screw it and sell. If you don't, other people will say screw it and sell.