‘Not Sustainable’: High Insurance Costs Threaten Affordable Housing

For years, Father Joe’s Villages, a nonprofit homeless services provider and housing developer in Southern California, could reliably count on the insurance premiums for its properties rising up to 10 percent every year. But this year, the insurance bill hit $4.4 million — quadruple the previous year. And that was on top of a sharp increase in deductibles.The sudden rate increase was hardly unique. From Rhode…