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Earthquake Risk Adds To CA's Housing Woes.
CHICAGO-The California housing market, which is still reeling from foreclosures and declining values, now has something new to worry about: what might happen to prices if an earthquake strikes.
According to a report issued by reinsurance broker Aon Benfield and its affiliate, Impact Forecasting, only 14% of California homeowners carry earthquake insurance.
California is the largest home mortgage market in the nation, representing about 20% of all outstanding loans. Aon says that by comparison, "Nearly all mortgaged homes in Florida and along the entire East ...
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Source: HighBeam Research, Earthquake Risk Adds To CA's Housing Woes.