Besides then they can turn around and sell some of that land that’s not underwater yet back to the government for “temporary” refugee resettlement tent cities
Buy for cash, rent until the next natural disaster destroys the building and… then what?
If we’re talking about Blackrock/large REITs, the answer is “get bailed out by the government (despite it abandoning the little people to the wolves) because you’re in the big club ‘too big to fail.’”
This will certainly depend on where you live but my impression is that generally you only need to have it when you have a mortgage specifically because the banks require it as a way to protect themselves. If you pay cash nobody cares.
Don’t worry black rock has the money to snap up all your uninsurable hovels and will gladly rent them back to you…
What’s the long term plan there?
Buy for cash, rent until the next natural disaster destroys the building and… then what?
Doesn’t the landbastard have to pay for the tenants to be in alternate accommodation until the original one is returned to a liveable state?
I can’t see how that’s profitable either…
They also have the money to lobby state governments to get rid of protections in the states where they have a large presence.
Besides then they can turn around and sell some of that land that’s not underwater yet back to the government for “temporary” refugee resettlement tent cities
They don’t think that far all they really care about is maximizing short term profits
It’s Chicago School economics; there is no long-term plan.
I’d say the long term plan is a bailout.
If we’re talking about Blackrock/large REITs, the answer is “get bailed out by the government (despite it abandoning the little people to the wolves) because you’re
in the big club‘too big to fail.’”this might be a dumb question, but aren’t landlords required to insure homes they rent out?
A big landlord self-insures.
This will certainly depend on where you live but my impression is that generally you only need to have it when you have a mortgage specifically because the banks require it as a way to protect themselves. If you pay cash nobody cares.