If insurance costs don’t stabilize — or decrease — some affordable housing providers may have to cut services or sell buildings.
Homeowners in areas battered by climate disasters are facing dizzying insurance rate increases. But builders of housing for the homeless and other low-income families are also struggling.
Rising levels of extreme weather and climate-related risks have driven up property insurance costs in recent years, exacerbating affordability challenges for homeowners and apartment…
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Developers and landlords of subsidized housing, who cannot raise rents or charge more for starter homes, say property insurance increases could put them out of business.
"We have first-time homeowners who are unable to purchase a home because of the unexpected cost of insurance. We have some of our existing affordable housing providers seeing their...
Most housing providers indicated that they would take action to mitigate cost increases due to higher insurance premiums. Some of the most common actions include increasing insurance...
About the Author : Shelterforce Staff · Shelterforce is the only independent, non-academic publication covering the worlds of community development, affordable housing, and neighborhood stabilization. Tags : insurance
Builders in NSW demand changes to an insurance scheme they say is driving people out of the industry, pushing up costs and holding back housing supply.