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    Gen Z: How Will You Remake the American Dream?

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    Americans of all ages are increasingly skeptical of the American dream. As a new crop of shiny young people graduate from high school, college and professional schools this month, we wanted to ask: What might a new vision for the future look like?The old version of the dream seems increasingly irrelevant for people in their teens and 20s. Sociologists call it the success sequence: graduate from college, get a job, get married, have children, in that order. Buying a house for those kids to run around in is supposed to be the capstone.But with untenable costs locking many out of the housing market and parts of the country becoming uninsurable because of potential climate damage, homeownership is no longer a top goal for everyone.Because finding the right job can prove difficult and many entry-level jobs could be vulnerable to artificial intelligence, some Americans in their 20s and 30s sought the solace of steady, unglamorous government work … until this year, when the so-called Department of Government Efficiency took a wrecking ball to federal jobs. It’s not just the federal work force that’s in disarray; our entire democracy seems more precarious than it’s been in a long time.More people are questioning the value of higher education than in recent memory, with only a quarter of Americans saying that college is extremely or very important. Nearly 50 percent of Americans “say it’s less important today than it was in the past for someone to have a four-year degree in order to get a well-paying job,” according to Pew Research.“Gen Z on Marriage: In This Economy?” read a headline in The Wall Street Journal last year, and it could also act as a mission statement for people in their 20s, who are either putting off or forgoing marriage and babies entirely.Tell us about about your American dream.Readers 18 to 30, what does the American dream look like for you, regardless of what the phrase means in popular culture? More

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      L.A. Fire Victims Move Away From Altadena and Pacific Palisades to Start Over

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      In the aftermath of the Los Angeles fires that destroyed thousands of homes and properties, many fire victims moved far away from Altadena and Pacific Palisades in a sudden diaspora that upended the two tight-knit communities in ways beyond the initial loss of property.Residents now living in rentals, with expenses that have ballooned, expressed frustration with school transfers, longer commutes to work and the overnight disappearance of yearslong relationships with their neighbors.Of those who had to move, more than half ended up in neighborhoods at least a half-hour’s drive away, according to more than 3,500 change of address records analyzed by The New York Times. A quarter left the Los Angeles metro area entirely, and most ended up living somewhere with higher population density than their original neighborhood. While the data doesn’t include every displaced person, the results provide a clearer picture of where the victims settled after several fires erupted amid high Santa Ana winds across Los Angeles in early January. More

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      California Approves 17 Percent Rate Increase for State Farm

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      Homeowners reeling from the wildfires in January say that State Farm’s increased rates are unfair and unfounded.State Farm will be allowed to temporarily charge an extra 17 percent for homeowners’ insurance policies in California, after the state gave the company permission, in the wake of the catastrophic fires. The insurer will be allowed to charge the higher rate at least until a hearing later this year, the state announced on Tuesday.The insurance giant already received a 20 percent rate increase last year, a move that a consumer watchdog group, as well as homeowners struggling to be paid after their homes were destroyed in January in the Los Angeles fires, criticized as unfair and unfounded.State Farm requested the emergency rate increase in February, the month after fires ripped through the Pacific Palisades and Altadena neighborhoods of Los Angeles, razing over 16,000 homes and structures. The company — which insures one out of every five homes in California or roughly 1 million homeowner customers — had requested even more: a nearly 22 percent rate increase on homeowners’ policies, citing a “dire situation.”California, like other states hit by natural disasters, has faced threats from major insurers: Raise rates, or we leave the state, said Carmen Balber, the executive director of Consumer Watchdog, which led the effort to oppose the rate increase in hearings this spring.“The commissioner has shown a tendency to roll over in the face of insurer threats to leave,” Ms. Balber said. The increase “adds insult to injury” at a time when many homeowners insured by State Farm have reported delays or attempts by State Farm to lowball claims following the fires earlier this year, she added.In a statement, Ricardo Lara, the state’s insurance commissioner, presented the rate increase as a difficult compromise for consumers. “Let me be clear: We are in a statewide insurance crisis affecting millions of Californians,” he said. “Taking this on requires tough decisions.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      California Bill Would Force Insurers to Pay Full Coverage Without Requiring Itemization

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      A proposed new law would release homeowners from the onerous process of listing every object lost in a destroyed home.California’s insurance commissioner joined with state legislators on Friday to propose a new law that would force insurers to pay homeowners 100 percent of the coverage for belongings inside destroyed homes, releasing them from the mentally taxing process of listing every object they lost — a requirement of many insurers, and one that consumer advocates say only compounds the trauma.If passed, the legislation would make California the only state in the country requiring 100 percent insurance payouts without such itemization. Similar legislation in Oregon and Colorado following catastrophic fires in those states require insurers to pay 70 and 65 percent of the coverage limit, without an inventory, according to Emily Rogan, a senior program officer for United Policyholders, which supports the rights of consumers.The bill applies only to homes that were destroyed in a disaster and calls on insurance companies to pay a homeowner’s total contents coverage without forcing them to provide an inventory, according to the bill’s sponsor, California Insurance Commissioner Ricardo Lara, and the bill’s author, State Senator Ben Allen.“The idea here is, we say, ‘Look, this is the insurance plan that you own. You have a total loss, and we’re not going to require you to draw up this itemized list in this moment of incredible pain and vulnerability,’” said Mr. Allen, whose district includes the Pacific Palisades burn zone.Forcing homeowners to account for every last item in their former house is “inhumane,” said Mr. Lara, adding that he was inspired to name the bill “Eliminate ‘The List’” after The New York Times published an article detailing the experience of a homeowner in Altadena, Calif., as she attempted to itemize every T-shirt burned in the flames. “It’s hard to describe the agony in people’s faces,” he said.The proposed law comes a week after Mr. Lara issued a bulletin imploring insurance companies to voluntarily pay 100 percent of the contents coverage for homes destroyed in the recent fires. That notice did not have the force of law, and the commissioner said that “it’s clear that we need to go further,” based both on the Times’s reporting and on the feedback his office has received from distressed homeowners.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      California’s FAIR Plan Gets $1 Billion Bailout After L.A. Fires

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      The move will likely lead to higher costs for households across the state, and may push more insurers to leave, intensifying a home insurance crisis.California’s home insurance plan of last resort, designed for people who can’t get coverage on the private market, does not have enough money to pay claims from the Los Angeles wildfires and is getting an infusion of cash from regular insurers.State regulators said Tuesday that they will allow the program, known as the FAIR Plan, to collect $1 billion from private insurance companies doing business in California to pay its claims. That is likely to drive up insurance costs for homeowners across the state.The situation marks a perilous new stage for California’s home insurance market, which had already been reeling from wildfires made more frequent and intense by climate change. Facing growing losses, major insurers like State Farm were already pulling back from the state, making it harder for homeowners to find coverage.Now the pressure to leave will be even greater.The $1 billion assessment is the largest since the FAIR Plan was created in 1968, and the first time since the 1994 Northridge earthquake near Los Angeles that the FAIR Plan has faced claims it can’t pay on its own. The fee will be divided among insurers based on their market share, as required by state law.“The number one priority right now is that the FAIR Plan pay out its claims,” Ricardo Lara, California’s insurance commissioner, said in an interview. “The FAIR Plan, the way we’ve set it up, is doing what it’s supposed to.”As of 2023, the state’s largest insurers by market share were State Farm, Farmers Insurance Group and CSAA Insurance, according to data from AM Best, a company that rates the financial strength of insurers. Other major insurers in the top 10 included Liberty Mutual, Allstate and Travelers.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      California Asks Insurers to Spare Wildfire Victims ‘the List’

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      The state’s regulator wants insurance carriers to pay full policy limits without requiring victims to itemize every object in their destroyed homes.California’s top insurance regulator urged insurance carriers on Thursday to pay policyholders the full amount of the belongings in their coverage without requiring them to itemize every object lost — an undertaking that has burdened thousands of residents whose homes were destroyed by wildfires last month.In a notice that said policyholders are “overwhelmed,” Ricardo Lara, California’s insurance commissioner, gave insurance companies a deadline of Feb. 28 to inform the state agency on whether they would comply.Consumer advocates have long criticized the demand by many insurance carriers that homeowners to make detailed lists if they hope to get their full coverage amount.The stress is compounded in places like California’s burn zone, where many families are scrambling to find new places to live and new schools for their children. The monumental task of remembering all items inside a home that no longer exists is adding unbearable strain, said Michael Soller, the deputy insurance commissioner, in an interview.Mr. Soller said he and his colleagues continue to hear from homeowners about “the agony of having to go through the process of filling out an inventory after you just lost everything.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      After Floods, Soaring Insurance Rates Become a Hot Election Issue

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      Few states elect their insurance commissioners. But in North Carolina, a proposed 42 percent rate hike and Hurricane Helene have raised the stakes in the upcoming election.When Marjorie Burnside moved to the North Carolina coast several years ago after retiring as a New York City police officer, she did not know much about the candidates running for the obscure statewide offices that oversee agriculture, labor and insurance. So Ms. Burnside, a lifelong Republican, voted along party lines.She now considers many of her area’s elected Republicans responsible for rubber-stamping too many development projects. And she is furious that they have failed to tame home insurance premiums, which have soared by 75 percent. That was why she accepted an invitation to a friend’s recent beach house party for State Senator Natasha Marcus, a Democrat who is challenging the state’s Republican insurance commissioner.“She just gave me lots to think about,” Ms. Burnside, 59, said after listening to Ms. Marcus’s warnings about loopholes that hurt policyholders and rates in coastal areas that are likely to see a significant rise. “More people, more claims, more raises — it’s all connected.”Eleven states elect their insurance commissioners, an obscure but powerful job that affects virtually every resident through regulations and the ability to challenge or reject rate hikes on home, car and other policies.The contest has typically been treated as a down-ballot afterthought involving little-known candidates, with hundreds of thousands of voters leaving their ballots blank. But as housing and insurance costs have skyrocketed, particularly in areas experiencing whiplash from climate change and extreme weather, these races are becoming proxies for public frustration over pocketbook anxieties.Natasha Marcus, a Democrat running for North Carolina insurance commissioner.Cornell Watson for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      How is Climate Change Impacting Homeowners Insurance in Your State?

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      As climate change makes disasters more frequent and severe, the insurance industry is in tumult. Losses have been spreading beyond states that have been ravaged by hurricanes and wildfires, like Florida and California, and into places like Iowa, Arkansas, Ohio, Utah and Washington. Even in the Northeast, where homeowners insurance was still generally profitable last […] More