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The Hidden Cost Killing Home Purchases
Insurance just killed one of our deals. The buyers got a quote for insurance that was DOUBLE what the bank estimated - and they had to walk away from their dream home.
This is happening everywhere. Oklahoma homeowners are paying $5,858/year on average. Insurance companies are fleeing California, Florida, and Texas. And natural disasters are passing the bill to ALL of us - even in states that haven't been hit.
In this inaugural episode of The Principled Entrepreneur podcast, real estate professionals Caleb and Jody Moore (16 years in the business, co-owners of a real estate company) break down why this is happening and what it means for you.
### - Why insurance killed a recent home purchase (and how to avoid this happening to you)
- The shocking state-by-state insurance cost comparison (Oklahoma leads at $5,858/year)
- Why insurance companies are leaving California, Florida, and Texas
- How natural disasters in OTHER states are raising YOUR premiums
- Why 5.2 million Americans are expected to migrate in 2025 due to insurance costs
- State Farm's 22% rate increase request in California - and what it signals
- How rising premiums can lead to foreclosures (even for existing homeowners)
- Arkansas's position as a top relocation destination and what that means for the market
### - 00:00 — Introduction: Meet Caleb and Jody Moore
- 01:00 — Podcast mission: Real estate, business, and life
- 02:00 — Background: 16 years in real estate, high school sweethearts
- 09:24 — The insurance crisis: How it killed a real home purchase
- 10:16 — Why insurance is so high: Natural disasters explained
- 14:23 — State-by-state breakdown: Oklahoma's $5,858/year average
- 15:17 — Americans on the move: 5.2 million expected to migrate
- 16:37 — Insurance companies leaving states: The California exodus
- 17:03 — State Farm's 22% rate increase request
- 19:24 — How natural disasters affect YOUR premiums nationwide
- 24:17 — Labor and construction costs driving prices higher
- 25:00 — How premiums affect mortgage payments and foreclosures
- 28:11 — The affordability crisis: Setting realistic expectations
- 29:25 — Napoleon Hill's Law of Economy and what we're experiencing
- 31:07 — Life segment: Atomic Habits by James Clear
- 32:04 — Identity-based change: Working from the inside out
- 33:08 — Michael Jordan's identity transformation story
- 34:40 — Wrap-up and call to action
### Caleb and Jody Moore are high school sweethearts who graduated from the University of Central Arkansas and have spent 16 years building their real estate career. They co-own a real estate company, manage Airbnbs and rental properties, and are parents to three boys. The Principled Entrepreneur podcast covers real estate, business, and life lessons.
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- Drop your questions and topic suggestions in the comments
Timestamps:
00:00 - Introduction: Meet Caleb and Jody Moore
00:34 - What This Podcast Will Cover
01:18 - Our Background: 16 Years in Real Estate
02:01 - High School Sweethearts to Business Partners
04:00 - Why We Started This Podcast
09:24 - The Insurance Crisis Explained
10:16 - Natural Disasters and Climate Impact
14:23 - State-by-State Insurance Costs
15:17 - The Great Migration: 5.2 Million Moving
16:37 - Insurance Companies Leaving States
17:03 - State Farm's 22% Rate Increase
19:24 - How Disasters Affect ALL Premiums
24:17 - Construction Costs and Roofing
25:00 - When Premiums Force Foreclosures
28:11 - The Affordability Crisis Reality
29:25 - Napoleon Hill's Law of Economy
31:07 - Book Recommendation: Atomic Habits
32:04 - Identity-Based Change
33:08 - Michael Jordan's Transformation Story
34:40 - Thanks and Call to Action
The Principled Entrepreneur is where real entrepreneurs share the principles, values, and grit that carried them through the toughest seasons to their greatest successes. Hosted by husband-and-wife team Caleb and Jodi Moore, we uncover authentic, relatable stories that prove you’re not stuck and you’re not alone. Whether you’re in a body shop, behind a desk, or chasing a dream, each episode will fuel your hope, strengthen your grit, and remind you to keep going — no matter what.