from Hacker News

Fed's Powell warned there'd be places in the US where you 'can't get a mortgage'

by healsdata on 6/18/25, 8:40 PM with 5 comments

• by techpineapple on 6/18/25, 9:10 PM

  "The problem, though, is that this type of insurance is generally more expensive than the insurance you might find on your own. So it's not a great option.

  And that assumes it even is an option. If your mortgage lender can’t procure insurance for you, you risk having your mortgage go into default, leading to foreclosure."

  Seems like a catch-22, is the mortgage lender going to forceclose on your house if they can't sell it to anyone else?

• by cempaka on 6/18/25, 8:47 PM

  Either these problems are fixable, and the institutions involved have simply decided not to fix them for some other reason, or they are not. The latter case would imply some kind of grossly ruinous effects from climate change, which those same institutions seem to be expressing no particular urgency to address.