I've been reading about cases of eminent domain (taking over of other people's property) in various locations over the last couple of decades. One case was in Atlantic City. Trump wanted to kick an elderly woman out of her home so he could build a casino.. Her lawyers fought it to the teeth and won. I believe they built around her house.
https://www.cato.org/blog/donald-trump-eminent-domain-widows-house
There was speculation about eminent domain being used to take over our complex due to it's prime location, but so far that hasn't come to pass, thank God.
From what I've read about eminent domain, in some cases the home owners don't have a chance. I wouldn't be surprised if the "crossing of palms" between big money, power brokers is the reason for that. Even the federal government gets in on the act.
https://www.justice.gov/enrd/history-federal-use-eminent-domain
Victims of eminent domain are supposed to be "justly compensated", but sometimes said compensation isn't fair at all. I read another story about a rich developer who wanted to use a condominium for his purposes (I forgot what the project was). He bought out all but one resident who refused to sell his unit. Finally, while his neighbors got only thousands, he got a million, maybe millions. It was over a decade ago, so I don't remember exactly. There are several articles about eminent domain and I couldn't choose which to link, so here's the link to the search page for the articles.
https://search.brave.com/search?q=eminent+domain&source=desktop
@oldaunt Just because you own your home outright, doesn't mean some powerful entity couldn't use eminent domain to get it
unless your city or state has a law against using it.
As for the second part of the OP's question...if there was a major catastrophe that destroyed our building or complex, my insurance would pay for me to stay at a hotel until I found other accommodations, but at this stage of my life, it would be disconcerting. I tend to handle big issues well, sometimes better than the little things. But I love my modest apartment and would hate to have it gone. So many have had to abruptly leave their homes due to catastrophic events, even right here in my city. My heart goes out to all of them and I do pray for people in that predicament.