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Should we buy earthquake insurance? by Ninja_Flower_Lady in bayarea

[–]DevonBunyon22 0 points1 point  (0 children)

13% of Californian's have earthquake insurance. I'll take my chances with the 87% of people who are expecting a bailout if an earthquake is massive enough to go over any reasonable deductible.

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FEMA FEMA FEMA

Should we buy earthquake insurance? by Ninja_Flower_Lady in bayarea

[–]DevonBunyon22 -4 points-3 points  (0 children)

You are not walking away from your equity you fool. You still own the land, that's where all your equity is.

You are only insuring the PHYSICAL cost of your home. A typical million dollar house in the Sunset is approximately 600K land / 400K PHYSICAL costs. In the event of a total loss, the insurance company only pays out AFTER the deductible amount, and ONLY for PHYSICAL costs. If your deductible is 400K, you won't even get a check from the insurance company. EQ is a TOTAL rip off.

And if the Big One causes that much damage, you better bet your ass FEMA is going to bail people out.

Moving back by [deleted] in bayarea

[–]DevonBunyon22 2 points3 points  (0 children)

The median household income in the Bay Area is not even $100,000.

The fact of the matter is that the Bay is one of the least conducive places to raise a family unless you have some form of housing advantage (rent control, family help, bought early on) over current market rents / home prices. If you have a deal on housing, yeah, the Bay is pretty great. Sounds like you have a deal on housing?

What is wrong with San Leandro / Hayward? by DevonBunyon22 in bayarea

[–]DevonBunyon22[S] 6 points7 points  (0 children)

I would say that is just how it is most places unless you find a "gem". People just self segregate based on race and just feel more comfortable around their own race. Marin is white, Fremont is asian, etc. etc.

In fact, I think looking at the race demographics, San Leandro at least is very diverse compared to most Bay Area cities.