Flood Insurance Spikes Threaten to Cripple Local Real Estate Market | Bedford Corners Homes

It was a way to remove FEMA subsidies from flood  insurance, but now, an act passed by congress and now in effect  nationwide, is threatening to cripple local real estate markets.

A week ago, WTRF introduced you to two home buyers, who like thousands, are  struggling with the cost of a new flood insurance policy. Now,  another homeowner says the problem is so massive that he’s not about to  sit and watch his neighbors lose their homes.

Greg Kloeppner says he is not optimistic they could find a buyer for his home. He wants to even the playing field and slash residential property values by 90 percent, and commercial  and industrial properties by half to make up for the increasing cost of flood insurance.

 

 

 

http://www.wtrf.com/story/24154577/flood-insurance-spikes-threaten-to-cripple-local-real-estate-market

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