Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?' [Yahoo! Finance]
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Source: Yahoo! Finance
Orman, 72, faced a $28,000 annual insurance quote for her Florida oceanside condo, leading her to forego coverage entirely. She highlights a troubling trend where soaring insurance costs driven by frequent and severe weather events may deter Americans from buying homes. Don't Miss: For many first-time buyers, a house is about 3 to 5 times your household annual income – Are you making enough? Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you "Climate change is going to make a big difference in people's desire to own their own home," Orman told DailyMail.com. She pointed out that the increasing unpredictability in places like Southern California and areas newly prone to severe hurricanes amplifies homeowner anxiety, especially combined with high mortgage interest rates. This sentiment is supported by data indicating a 23% increase in the national average home insurance cost within a year, now averaging $1,759. The rise
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