[MrGompers]

Originally Posted by davwve

While not covered under the issued policies some of the local carriers did commit funding to help offset some of the costs for their insureds.


The Hartford - $3.5M
Travelers - $5M
Liberty - $7M

This is a joke and actually an insult. Average cost to fix foundation is estimated at 100k. Multiply that by 6,000 homes and we get 600 million dollars.

An insurance company won a lawsuit in the 1990's in which they were found not responsible for foundation issues. This set a precedent and it is very difficult to over turn precedent. This is why insurance companies are not budging.


At least one CT legislator also tried to submit a bill that would add a surcharge to all home owner insurance policies in CT to cover the foundation issue. The bill never passed.


As usual the burden is going to fall on the Govt instead of private industry.

[mdovell]

Originally Posted by MrGompers

This is a joke and actually an insult. Average cost to fix foundation is estimated at 100k. Multiply that by 6,000 homes and we get 600 million dollars.

An insurance company won a lawsuit in the 1990's in which they were found not responsible for foundation issues. This set a precedent and it is very difficult to over turn precedent. This is why insurance companies are not budging.


At least one CT legislator also tried to submit a bill that would add a surcharge to all home owner insurance policies in CT to cover the foundation issue. The bill never passed.


As usual the burden is going to fall on the Govt instead of private industry.

I don't know. I mean I go down rt 83 at least twice a month and see some people doing repairs. I think it's coming out of retirement or kids college funds. That might create other issues down the line.

With respect to housing it's one thing to say there isn't enough inventory but it's another if it actually is shrinking. You cannot tax a house if you cannot live in it and you can't rent it out either. First it was argued it was houses. Then it was said to be some roads and now you have a school. I've heard rumors of septic tanks that might cause environmental issues if there is proximity to aquifers. If bridges fall under this it creates logistical issues and God forbid if some are near water, sewer, telecommunication and gas lines. The uses are wide and the company responsible is gone. I'd recommend an inspector for any home purchased and to legally sign off if anything is found.

the annoying thing is the lack of attention. this isn't national. It isn't like lead paint and asbestos. There's some support a bit from Quebec and Ireland but there's different laws and regulations. The feds aren't going to help. There's no incentive for the president to help (either one at this point!). The state is already bailing out Hartford and might not have the $$ for this. Local governments can't pay for it. So it's a long term slow fix. If they fix it, it's going to cost money. If it isn't fixed it still will cost money. If someone abandons a second home (say if it's a rental) maybe they'll take it as a loss and just leave it there. What incentive is there for a second home owner to fix one if it is cheaper to just pay the property taxes (regardless of if it can be taxed). Now imagine groups of those homes and what not fixing means to the values locally. Heck how many property owners might be lying to their tenants about bad foundations...sure that sound uh....fireworks further out.

This will be to the suburbs what empty warehouses are to the cities.

[AtkinsonDan]

Pandemic response ensnares ESPN.

https://nypost.com/2020/11/05/espn-l...ampaign=704557

[mdovell]

Originally Posted by AtkinsonDan

Pandemic response ensnares ESPN.

https://nypost.com/2020/11/05/espn-l...ampaign=704557

You beat me to it, I just saw. I know of people there that had some nice perks. Free Disneyworld tickets

Retailer Pet Valu is closing. It isn't pet smart or petco but a smaller 3rd.

http://www.cnbc.com/2020/11/04/pet-v...perations.html

I would not want to be a commercial real estate agent right now that's for sure.

[JayCT]

Another company doing a large layoff. Genpact in Stamford is laying off 185 employees. No explanation has been given. Jay

https://westfaironline.com/129914/129914/

[Henry10]

Originally Posted by JayCT

Exactly. I am sick of people degrading our state for high taxes while extolling the virtues of low tax ones. The truth is those low tax states are among the worse for education, health and quality of life. As my father always said “You get what you pay for”.

No disrespect to your father, but platitudes like “you get what you pay for” are asinine and dumb from an economics perspective. History is full of examples of how a competitor offered a cheaper and better product. In fact that is the engine of progress. Without it, there is no real progress.

Second, we have beat this to death. Since this is economic thread, you have to look at things from an economic perspective. CT economic metrics are some of the worst in the nation. And they are worsening comparitively. So in due course it will affect QOL for those who remain. Disclosure — That is from a Capitalism point of view, not Socialism.

Although the standard of living for some may be high or may have improved — it does not cancel the overall trends and characteristics of CT economy.

Many members here have made that point. So don’t take that silence as implicit agreement with rosification (is this a real word?) of the true picture of CT’s economy.

[BobNJ1960]

Originally Posted by JayCT

Another company doing a large layoff. Genpact in Stamford is laying off 185 employees. No explanation has been given. Jay

https://westfaironline.com/129914/129914/

Good earnings, odd.

[tbanks3]

Originally Posted by Henry10

No disrespect to your father, but platitudes like “you get what you pay for” are asinine and dumb from an economics perspective. History is full of examples of how a competitor offered a cheaper and better product. In fact that is the engine of progress. Without it, there is no real progress.

Second, we have beat this to death. Since this is economic thread, you have to look at things from an economic perspective. CT economic metrics are some of the worst in the nation. And they are worsening comparitively. So in due course it will affect QOL for those who remain. Disclosure — That is from a Capitalism point of view, not Socialism.

Although the standard of living for some may be high or may have improved — it does not cancel the overall trends and characteristics of CT economy.

Many members here have made that point. So don’t take that silence as implicit agreement with rosification (is this a real word?) of the true picture of CT’s economy.

And yet we see no rebuttals for healthcare quality, education quality, infrastructure, etc from most of the low tax and high growth states. I think the point is that there is perhaps a “cost” to the business friendly climate and it is placed on the individual. It’s a give and take, certainly something CT hasn’t been willing to change on.

[Henry10]

Originally Posted by tbanks3

And yet we see no rebuttals for healthcare quality, education quality, infrastructure, etc from most of the low tax and high growth...

We started this thread when my daughter was in pre-K. Now she is in high school. Thread now has over 1500 pages, approaching 1,600.

There have been many rebuttals and back-and-forth. Commenters have posted studies, we have dissected numbers, scrutinized sources, clarified definitions, and on and on.

For example, we debated ad nauseam what “high level” of healthcare really means, and how different sources use those terms based in certain premises. For example, some sources assign an heavier weight to for example, how much a state funds Medicaid. We ridiculed another source for example that put an inverse value between charter schools and yardstick of “public education”

Frankly, some posters (like me) got tired of the same old same old and just moved on.

[Henry10]

Yep, just checked — this thread started in Aug 2013.