Several weeks ago, we were asked whether it made sense to buy insurance on a property's value that would pay off if the value declined. We suggested that buying property value insurance when property prices are the lowest they have been relative to income in decades wouldn't be a prudent use of resources.
Steve Ryles, CEO of Home Value Protection Insurance, begged to disagree. In a long e-mail, he wrote that there is a market for homeowners who "cannot risk losing their equity to an uncertain housing market."
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