Reported about 14 hours ago
A recent article highlights the troubling trend of insurance companies withdrawing from disaster-prone regions in the U.S., particularly following the catastrophic wildfires in California. This withdrawal is likely to lead to a significant reduction in mortgage availability in areas affected by extreme weather as lenders typically require homeowners' insurance for mortgage approval. With the increasing costs of insurance premiums and the ongoing climate change-driven risks, future homeownership may become unattainable for many Americans.
Source: YAHOO