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Reply to "Palisades Fire - Los Angeles"
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[quote=Anonymous][quote=Anonymous]So how long do people think recovery/rebuilding is going to take? The real estate is too valuable to not rebuild. 5-7 years? 10 years? [/quote] State Farm and farmers already stopped insuring in CA. The remaining insurers will pay out these claims and then go bankrupt or stop insuring as well. So it will depend on the homeowner- if they owned their home outright they will rebuild and self insure. If they had a note on their home they should pay off their note if they can and move. Either way, after this real estate should be more affordable- insurance not so much.[/quote]
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