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Do Calif. homeowners ignore quake risk?
July 29th, 2008, 12:14 pm · 26 Comments · posted by Jon Lansner/O.C. Register columnist
While many want to discuss the risks of buying a home these days, thanks to a shaky economy, perhaps today’s 5.4 quake near Chino Hills will be a wake-up call for those who choose to ignore this huge risk to life and property. At its early rating, it’s the strongest California earthquake since last Oct. 31’s 5.6 in San Francisco.
We’ve previously reported that just 13% of California’s homes have quake insurance. But that may be more of a comment on public perception of the quake-insurance program than a view of the size of the earthquake risk to home values.
How much risk do earthquakes pose to an O.C. home investment?
Other quake information …
- How do earthquakes happen?
- Register earthquake Web page
- U.S. government’s coverage of the quake
- Did you feel it? Tell government researchers!
- Create a home inventory of your possession
- FEMA: earthquake safety tips
- How to prepare a disaster supplies kit
- ‘City zapper’ quake could hit O.C.-L.A. within 30 years
- Make sure you and your home are ready for an earthquake
July 29th, 2008 at 12:23 pm
Lansner, give us a chance to have a drink first!
July 29th, 2008 at 12:24 pm
Sure didn’t take long to jump on the earthquake bandwagon.
July 29th, 2008 at 12:30 pm
Crazy. My in-laws on the east coast were calling to ask if we’re o.k. before we even left the safety of the doorway. Word travels fast!
July 29th, 2008 at 12:38 pm
I know, Lasner, I hope you called your loved ones first to make sure everyone was ok before you added your new post.
July 29th, 2008 at 12:44 pm
The bright side is the quake caused an estimated $2 mil worth of improvements to Santa Ana.
July 29th, 2008 at 12:49 pm
THE WIZARD OF BLOGGING (MR.LANSNER) YOU ARE THE REAL MASTER OF BLOGGING…..
KEEP UP THE GOOD WORK NOTHING BUT UPDATE INFO WITH YOU….
NOW MAYBE U CAN HELP OUT MULLIGAN BOY AND ALFALFA UPDATE THERE BRAINS………LOLL
SOCAL78 NOW THATS FUNNY!!!!!!!!!!!!!!!!!!!!
July 29th, 2008 at 1:02 pm
there goes another 5% depreciation in home prices for SoCal
July 29th, 2008 at 1:31 pm
……….. if you pull all the equity out of your house…. and then some…….or went with 100% financing………. what do you have left to lose?……….
July 29th, 2008 at 1:35 pm
Good stuff. I would imagine any earthquake has an effect on OC housing.
July 29th, 2008 at 1:37 pm
“I know, Lasner, I hope you called your loved ones first to make sure everyone was ok before you added your new post.”
yeah, nothing like another person jamming the phone lines so real emergencies can’t get through. c’mon people of COURSE they’re OK. my god man
July 29th, 2008 at 1:42 pm
OK, that was scary.
July 29th, 2008 at 1:44 pm
quake insurance cost so much to insure it usually doesn’t make sense anyway.
July 29th, 2008 at 1:53 pm
At this point, betting on a government bailout is a pretty safe bet!
July 29th, 2008 at 1:59 pm
So good, SoCal76–you should write for Leno!
I’m a native, and after 56 years of rocking and rolling to the beat of the SoCal fault lines, I think I actually enjoy these quakes, as long as nobody gets seriously hurt, which appears to be the case this time.
Out here in Los Alamitos, this one was a real good ride. Gradual creshendo to a few big jolts, crashing glass (but only one dish), gradually dying down. . . a real “E-ticket” ride!
As a Realtor, I say it’s just one more reason to live here! (See “So Cal rocks: Earthquake update“).
Seriously, it is a good reminder to take the precautions we tend to let slide between quakes. Move the good china down to the bottom shelf, put a half gallon of water in each car’s trunk, and schedule a Saturday morning to finally bolt the bookcase and China cabinet to the wall and upgrade the water heater strap if needed.
As for earthquake insurance, Cal Tech doesn’t buy it, so why should I? That state policy’s pretty lame anyway. Far better to put the money you’d spend on the premium into preventative measures at home: maybe an automatic earthquake shut-off for the gas, & extra support for any cripple walls, check really old homes to be sure they’re bolted to the foundation, etc.
July 29th, 2008 at 2:04 pm
“As a Realtor, I say it’s just one more reason to live here! ”
….. jesus, you have no shame RE Dave……
….. you are just one giant ball of BS…..
July 29th, 2008 at 2:12 pm
Dave has no shame? Whoa. And Samson, everyone who invests in California real estate knows all about earthquakes, I promise. You all prove you have no integrity whatsoever. I must say, I am not a bit surprised.
July 29th, 2008 at 2:13 pm
“everyone who invests in California real estate knows all about earthquakes, I promise”
……….. can the banks get a money back guarantee on that?…..
July 29th, 2008 at 2:21 pm
hwood & Dave -
Ba-da-bing! Thank you… thank you very much… I’ll be here all week.
July 29th, 2008 at 2:44 pm
Provider,
Your so angry all the time. What happend to you? What does integrity have to do with anything?
It makes perfect logical sense that earthquakes have an effect on housing in CA. There are people who where sitting at home thinking of buying who wont now because of a quake such as this.
I didnt quanitfy the effect. Planes crash people fly less…etc..
You need to get out more and relax a little, lifes to short to jump on everyone that doesnt agree with you.
July 29th, 2008 at 3:09 pm
If that little shake today casued someone to change their mind about buying, they did not want to buy anyway - please!!!
That is like saying a 0.5% NOD rate in LN is going to cause the housing prices in that area to crash - makes for good spin but has very little substance.
July 29th, 2008 at 3:15 pm
mav,
Relax, it’s a joke!
I do love living here, and I don’t mind earthquakes, but I certainly hope most regular readers here recognized the sarcasm in my statement.
I just can’t come close to socal76’s comedic talent. Thanks again–I’m still chuckling. I just shared your Santa Ana comment with my 16 year old son & he loved it too!
Keep it coming, SoCal78!
July 29th, 2008 at 3:26 pm
OK…Im not writing it for substance. It was just a statement. Take it or leave it.
I for one love earth quakes as long as there are no serious injuries or damage. Ive lived here my whole life and slept through many of them.
I just think it would be an interesting study to see if natural events have any effect on the housing market.
July 29th, 2008 at 3:50 pm
I will take earthquakes over annual flooding or seasonal tornado any day. What I can’t understand is earthquake insurance coverage. Allstate and Farmer’s will offer a 3rd party business to cover you but with a $25K deductable. HOLY MOLY! Who is going to pay monthly into that ? I still love the area I live in and would not choose any other state.
July 29th, 2008 at 4:59 pm
The fact that people pass on earthquake insurance points to two issues.
1. They may not perceive the risk of a badly damaging quake in their neighborhood as big enough to warrant contracting for
2. an insurance that is so limited and expensive that investing the premium on your own will likely give you a better insurance.
July 29th, 2008 at 10:41 pm
Grammatically challenged Hwood says:
KEEP UP THE GOOD WORK NOTHING BUT UPDATE INFO WITH YOU….
NOW MAYBE U CAN HELP OUT MULLIGAN BOY AND ALFALFA UPDATE THERE BRAINS………LOLL
I need to update my brain huh…what is wrong with the above text sentence?
July 30th, 2008 at 3:31 pm
if an earthquake comes, government will bail you out
dont worry
you can then live in a better home