Foreclosures in economic recession
With the economic recession that the United States suffered few years ago, and one that it is still trying to recover from, house ownership has suffered tremendously. Foreclosures rose during this period and a lot of families lost their homes due to the inability to pay their mortgage.
Another thing that suffered is property insurance. Because of the belt tightening measures that many families had to undertake, insurance was one of the things that were considered non-essential and a number of them stopped getting property insurance. With the economy recovering, expect the number of families getting property insurance to climb.