Imagine having your life savings in your home only to watch it burn.
Yea, you might have insurance, but that's a 2-year process and a giant headache of managing contractors, fighting the insurance company and getting displaced. Yet that's the most common store of value for most people around the world.
#Bitcoin is just better.
Sad thing indeed. Especially if people had a paper backup of their keys and it got burned down with it.
Not to mention the people that aren’t covered or have their claims denied.
Imagine having all your Bitcoin, worth more than the house itself, on a paper backup burned to the ground without a backup.
many home insutance policies recently cancelled. a normie customer started mentioning this to me last night. her friend broker called her from CA.
they are freaked out and questioning everything.
Yes, many people rely on the increasing value of their homes to retire. Even without fires, this is completely unsustainable. Bitcoin fixes this.
Rent and buy #bitcoin
I'm not against money in a house (I have a paid off house), but I also have BTC. As much as I believe in BTC, I like to diversify and not have all of my savings in BTC, even if I have a decent amount.
When people are shopping for insurance, it is very important to talk to people who have put in claims. I had hot water heat pipes freeze and flood my downstairs. I spent almost a year fighting with insurance because they only wanted to pay 50% of the cost of repairs. We finally had to hire a lawyer and got them to settle and pay 90% of the repairs. As soon as we cashed the check, we switched insurance companies. Ten days later, a wind fueled grass fire vaporized our house. In barely over a month, we had a year's rent, the cost to rebuild the house and barn, and even payments for lost trees. When we added in the previous settlement, we ended up with a better house and a paid off house, so everything worked out very well for us. People need to really do their research when buying insurance. The lowest cost likely isn't the best deal, especially if you need to put in a claim.
There are properties in Sarasota, Florida that still need repair from the two hurricanes. So, yes.
You talk a lot about rent seeking. Most insurance today qualifies as a rent seeking rug pull. Homeowners insurance will go up 10% per year on average even if you have 20 years without a single claim. It is NOT underwritten in the sense people think it is: an actuarial fraud. There is a reason most of the high rises are owned by banks and insurance companies. I decided to avoid the home ownership insurance scam 10 years ago and the money saved really adds up. Of course, you also have to escape the mortgage banksters to be able to do this . . . lie in bed with dogs (mortgage banks) and you're going to have to get fleas (ripped off by insurance). Not living in a fire/hurricane prone area helps.
