Reply to Palisades Fire

Forum Index » Off-Topic

Reply to "Palisades Fire - Los Angeles"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]These homes start at $2.5M and go up rapidly from there. I bet most of these folks were self-insured.

This represents a huge, extremely wealthy chunk of the Los Angeles county tax base. Lots of families with young kids. It's as if a wild fire completely destroyed CCMD and adjacent neighborhoods in upper NW DC.

This disaster will upend Los Angeles's budget - lots of costs to clean up but also lots of these people will move away. It will only be partially rebuilt, likely with multi-family housing. The entire area will be rebuilt much differently.[/quote]

No. They will remain single family homes. People rebuild.  There’s no way pacific palisades, Malibu or anywhere near the Ocean front will be anything less than multimillion dollar property. This will not affect anything. These people love their lifestyle and paradise there.  [/quote]

If anything, the mildly rich will be replaced by the very rich. [/quote]

Exactly.  My family was never uber rich but comfortable upper middle class and wouldn’t be able to start over in the same place.  Many neighbors were regular jobs like electricians and teachers who bought in the 70s, 80s, paid off home and continued on.  They will never be able to rebuild and live in the same communities.  It’s sad.[/quote]

My friend in Palisades lost his home. It was a multimillion dollar home but that was his main asset. He doesn't have millions squirreled away to rebuild. A lot of people end up in the position that they could never afford to buy their own home even 5 years later with the way real estate prices increase. I don't know what these people will do, there are millions of them.[/quote]

Same in FL.  People just won’t come back or will sell at a loss.[/quote]

That's why you need to insure for the replacement value. My BIL's house in PP just burned down and he will be able to rebuild with the insurance proceeds. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics