Recent [tag]natural disaster[/tag]s have raised concerns that the cost of [tag]homeownership[/tag] can easily spiral out of reach for the average consumer during times of catastrophe if [tag]homeowner insurance[/tag] isn’t made affordable, the National Association of Realtors(r) said today in written testimony to the House Subcommittee on Housing and Community Opportunity.

Recent research conducted by NAR in the state of Florida concluded that the lack of affordable or available homeowners’ insurance contributed to a slowdown in [tag]Florida real estate market[/tag]s, which can contribute to a slowdown in overall economic activity in the region. “When buyers and sellers in high-risk states cannot obtain or retain homeowners insurance, which is necessary for a mortgage, it can slow home sales in those areas,” said Stevens. “A strong housing market is the foundation of a healthy economy, and as a nation, we must safeguard the vitality of the residential and commercial real estate markets.”

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