I’m thinking there are well-connected billionaires and not a few “suddenly wealthy” politicians who are hoping to make a financial killing if they can just wait out the property owners; taking advantage of a “fire sale” of sorts.
They really should change the way they are allowed to build houses in that area. There are houses that have survived these fires prior.
They are not built like a typical stick framed houses in 90% of our country.
This is no different than in the Caribbean they build a structure out of reinforced concrete and cinder blocks. The houses are made to withstand 150 mph winds and storm surge.
IF you want to rebuild in a fire prone area then you need to build a FIRE PROOF structure. Maybe you also require ALL new houses to have an in ground pool to be able to draw water from. Many houses that had sprinkler systems drawing water from their own pool survived when the house next door burned to the ground.
Pretty much all of the people that can afford a house currently in Pacific Palisades are very wealthy. Even IF they inherited the house from their parents. They land the house sits on is worth $2 million or more.
IF you don’t want to go through the building process then they should sell the lot.
I think I recall Oprah laughing about investing some dough for a quick flip for profit in Hawaii where the owners there couldn’t afford to rebuild.