Tag: homeowners
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Middle-class new homeowners are increasingly cost-burdened
“It used to be that if you made the median income, you could afford the median-priced house,” said Domonic Purviance, a housing expert at the Atlanta Federal Reserve. “That’s not the case anymore.” When Haley and Ben Williams purchased their home Elkhart, Indiana, in December 2023 for $265,000, they accepted a challenging financial scenario. Their…
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Insurance ‘nightmare’ unfolds for Florida homeowners after back-to-back hurricanes
Bridgette Bello thought she’d taken proper precautions to protect against Florida’s notorious hurricanes, having purchased flood insurance as well as a separate hurricane-specific policy, in addition to her regular homeowners coverage. Yet nearly two weeks after Helene hit — and even before Milton had arrived — what Bello, 54, describes as an insurance “nightmare” has…
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As Helene bears down, insurance woes add to Florida homeowners’ anxiety
Florida resident Michelle Curtis spent much of Wednesday securing her beach house and preparing to transport her horses and dogs from her farm in Perry to a friend’s property several counties away. Hurricane Helene will be the third major storm to hit her region in 13 months, and Curtis and her husband are becoming experts…
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New data shows how many Americans are going without homeowners insurance
For thousands of homeowners in Louisiana’s Terrebonne Parish, where 94% of homes were left without power after Hurricane Francine crossed its shore Thursday, any storm damage could have been catastrophic. One out of 4 of the 31,000 homeowners in the coastal parish live there without homeowners insurance — one of the highest percentages in the U.S.…