Over the past couple of months, I’ve been toying with the idea of buying a new house – something to provide me with more space, more land, and, apparently, a lot more debt.
Well, at least I was.
Thanks to Oklahoma’s sky-high home insurance rates – the highest in the country under Insurance Commissioner Glenn Mulready – the amount of home Oklahomans can afford keeps going down and down, just as home prices and interest rates keep going up and up, resulting in thousands of Oklahomans struggling just to pay their current mortgage, let alone upgrade to a new one.
In a normal world, pricing people out of the housing market would be a cause for concern. But according to spineless Oklahoma Insurance Commissioner Glenn Mulready, it’s actually a cause for celebration!
You see, because it's so easy and profitable to overcharge, rip off and price-gouge Oklahomans, insurance companies can’t move here quickly enough – a fact he bragged about in a recent House study.