[Maru]

Yeah, high living costs has become a problem across the world, in many metros. These kinds of protests will continue for some time I think.

The US, particularly where I am, high living costs is not as bad as the other metros, so we do very well on the whole. But... with blue moving into this area, I'm seriously concerned with taxation and if they will upend decades of stability. Of course, I fully expect some costs to go up, especially anything related to flood mitigation... like we should have a third reservoir by now... and we were very fortunate the original two didn't breach during Harvey. I attended a meeting not too long about the long-term effects on the climate change+flooding on a densely populated city... there are many homes here built on grade which is ridiculous for a city that is flat as a pancake surrounded and filled with varioous bayous and other bodies of water... it makes no sense.

So whatever the politics, many places in the Southern US may end up in the same boat (pun not intended) if we don't react to changes in the floodplain. I think in the end it will be one of the single largest threats to our budget/economy... so probably flood insurance will be required for most homeowners at some point. I already keep ins, but it's cheap for me where I am... but for most homes in the special flood zone, they are looking upwards to $2-4K a year... and that is with massive subsidization by the govt... it's amazing the FEMA program(s) haven't hit default yet but it is ballooning our deficit... I don't agree with CA, but TX particularly, coming with their hands out everytime there is a disaster, especially when the writing is clearly on the wall... the state/city cover their own costs, but that's because FEMA bails the homeowners out after the 3rd, 4th, 5th flood (flood insurance or not)... then the city gets funds every once in a blue moon to buy entire blocks, and in some cases neighborhoods, out... but we didn't have regulations for new construction until very recently, which was silly.

Moral hazards abound.