Comment on Insuranace is a joke
altphoto@lemmy.today 1 day agoLOL, yet you can’t buy a depreciated house can you? No, cuz there are none. Even a burnt down place represents a mortgage-able amount of money. That’s the lie. There’s no depreciation, they just want to pay you less as time goes on. At least for a house anyway.
fodor@lemmy.zip 1 day ago
That’s basically untrue. If a building is rotten and full of mold, then it might have to be torn down before anything new could be created. Then it might have negative value, but the property itself could still have a lot of value.
thermal_shock@lemmy.world 21 hours ago
Doesn’t make his claim untrue, just an exception.
altphoto@lemmy.today 21 hours ago
Okay let me find a negative value property around my neighborhood… None! Could it be a get rich quick loophole? Nope.
WoodScientist@lemmy.world 10 hours ago
Negative value property? Easy. It’s called a timeshare!