So what will all the broken pipes do to lending in Texas

[Shannon Robnett]

So I hear everyone talking about the coming fire sale in real estate from non payment of rents, but with this new winter disaster that has taken Texas literally by storm, does anyone see major changes in lenders underwriting?  WIll this trigger massive selloff in Texas?

I am sure that we are just seeing the beginning of the thaw which will bring 100's of broken pipe claims.  This is really unfortunate.  We have seen Covid underwriting guidelines change lending this last year is this winter storm the next thing to add to the lending underwriters nightmare?

I am hearing from my mortgage friends that guidelines are being changed on underwriting by the hour as this disaster unfolds.  Does anyone have experience with how natural disasters have shaped lending policies?

[Jay Hinrichs]

I am trying to think..  when the big one hit the SF bay area in 89 along with the war.. real estate tanked in SF.. but not sure it was because of lending.  More from buyers just deciding not to buy.  And panic selling..

there were deals though there was a  lot of damage to un reinforced brick buildings in Oakland.

WE just had a big ice storm in Portland last week.. and its mostly insurance claims.. my basement flooded because sump pump failed so I am covered. 

And the Hurricanes did not seem to affect Texas to much it became opps for buyers though for those with no insurance.

I dont see this changing underwriting.. its not like its an annual event.

I just happened to be in Jackson MS when the last deep freeze happening in Jan of 09 and it was a major mess there with city mains bursting everywhere and the city literally out of water..  life will go on.  lending will go on I suspect