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[quote=Anonymous][quote=Anonymous][quote=Anonymous][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]
Real Estate is going to go way up, including rentals. Right now we don’t know how many Homes are lost. They’re reporting 9000 structures so far, but that includes commercial, outbuildings, even RVs and sometimes cars. But obviously there are going to be thousands of homes lost. Most people are going to want to stay as close to home as they can. For all people say awful things about California, the demand for housing is very strong. The fire is creating a large reduction to the supply and an increase to the demand, so prices will increase.

Without strong state support it is the renters and the lower income owners who will be pushed out.[/quote]

State is almost bankrupt and cannot cover this.  Commercial insurance wants out of California.

Self insurance is going to be the only option for a decade and very, very few can swing that.[/quote]

People have been saying the same thing about the Florida insurance market since Hurricane Andrew, but it still limps along. The same will happen in California [/quote]

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