Yep, you see it.Don’t know, depends on their coverage, but it’s rarely market rate. Some of those people been in their homes or had homes on their family for 30+ years, even if they had a mortgage balance or HELOC, it’s likely way less than the cost of building. I’d also wonder if their home gets reassessed, which would jack up the taxes on it (prop 13 ties taxes to the price paid, they don’t increase with the value of the home) and could make the home unaffordable to long time owners
That's what I said earlier. Ppl who's houses were old ans paid for only had prop tax and maybe a cash out re-fi or heloc for renovations. But that balance is far less than what a mortgage in today's rate would be.
If any of them left, sold high and moved to another state in the previous weeks, they are probably thanking God for sure right now