You may try to sell a condominium on the bay and have just learned that homeowners insurance has increased from $48,000 to $170,000 for the 29 units. Plus, the deductible has gone from $50,000 to $750,000.

A 10-story condo was built in 2000. It is certainly hurricane-proof, code-wise. Insurance companies are blaming reinsurance companies for these gargantuan increases. Perhaps the reinsurance industry needs to be investigated. Most of the companies are in the Bahamas or somewhere. They are not sufficiently scrutinized.

Florida's economy will go further south than Florida is. The market is indeed going to be in a full-blown crisis. The candidates as well as the legislators had better address this problem immediately.

By M. Sese
http://realestatepress.org