I don’t think so. There is something strange going on here with this, and we may never know what it is. But one thing is clear, nobody from either party is very interested in getting behind this for whatever reason. The latest drama occurred when a vote that supposed to come this Thursday was abruptly postponed and no reason was given as to why. In the middle, almost forgotten in the middle of this political jockeying are some lower to middle class (along with some upper class for sure, but this won’t really affect them financially) people who will not be able to sell or pay their new insurance premiums and will be forced into foreclosure. It also raises the prospect of what will happen to these homes once they are foreclosed on? With prohibitive insurance premiums no one else will buy them and before long there could be entire towns or cities full of these types of homes. I think that Republicans are pushing for this, trying to protect their wealthy party members who are being affected by this, and Democrats are pushing back. They are in a rare position of arguing that the Government needs the money more and I think they are relishing it. Meanwhile regular people are caught in the crossfire. It is not right and a fine example of what is wrong with politics. How hard would it be to include some sort of provision in this that says if you have a home or net worth over $1,000,000 then the insurance reform doesn’t apply to you? We haven’t heard the last of this one, but this is clearly a round lost for the people in the battle for insurance reform.
Flood insurance fix vote suddenly postponed
Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434
Phone: 561-756-1665
Fax: 561-470-0707
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