The insurance thing is part of why: lenders won’t lend if you can’t get insurance, and insurers want to charge premiums commensurate with the risk, which is much higher than they have been charging.
Without being able to borrow, builders won’t build, and there is less housing to go around.
Honestly, since I haven’t been able to afford a house yet and the prospect is looking questionable at best, this won’t affect me.
The insurance thing is part of why: lenders won’t lend if you can’t get insurance, and insurers want to charge premiums commensurate with the risk, which is much higher than they have been charging.
Without being able to borrow, builders won’t build, and there is less housing to go around.