Stuart Varney: Hurricanes Milton and Helene are churning 'serious' long-term effects

Published On Oct 8, 2024, 11:17 AM

In his segment on Fox Business, Stuart Varney discusses the long-term ramifications of Hurricanes Milton and Helene on both the affected communities and the insurance and property markets. He highlights that homeowner insurance rates are expected to rise significantly, with proposals for an average increases of 42% in North Carolina, which residents are already struggling to afford. Varney suggests that property taxes may also increase due to the substantial costs associated with rebuilding and debris clearance. This financial strain could deter migration to states like Florida, traditionally seen as an affordable alternative, thereby reversing a long-standing trend.