I see this also as potentially creating need for construction of new homes maybe ?
Gee whiz.......where will one find that many forms of cheap labor in Kalipornia ?
Parking lot of Lowes or Home Depot maybe ?
This may be true but a moment of truth is about to happen when the home owner finds out he is under insured. One bright spot if there is one is the fact framing lumber costs are less than a year or two ago.
Another thing the home owner may be faced with is banks reluctant to loan for reconstruction. I have never had a complete loss while owing money on the property...