Posted on 01/17/2025 8:32:53 PM PST by george76
Josh Altman says a majority of the people are underinsured and will face challenges if they choose to rebuild in the Pacific Palisades..
"Million Dollar Listing" star Josh Altman predicts the Pacific Palisades will never be same because he doesn't expect the majority of families will return.
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He says his insurance agent told him that "90-plus percent of these people are heavily underinsured."
Altman added, "I think 65-70% of the people do not go back to the Palisades or Malibu.
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Altman said people are "fed up" with the drama with various insurance policies.
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"There's a moratorium right now on insurance for any house within a 35-mile radius of a fire line where the fire was, so that's a lot of houses. So, there's no insurance happening right now in those areas — zero. And then other people who are not in those areas, premiums are going to go up.
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For those who choose to stay, Altman predicts it will take years to rebuild, and the cost will be astronomical.
"People have to understand the build process," he shared. "Most people haven't built homes in their lives, so they probably assume it's a lot easier and a lot quicker than it is. … It's a very difficult process, especially in a place like California. There's no cutting corners. There's no quick way to do it.
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"I don't see these houses in places like the Palisades or Altadena — I don't see that happening for three years,
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it's going to be four to five years," he added. "That's the realistic timeline on this.
(Excerpt) Read more at foxnews.com ...
Sounds like they got what they wanted. Just funny that these IDIOTS voted and financed these people to ‘cleanse’ them from their homes.
I can believe it. The bigger the house, the greater the loss if you lose it.
whats the bad news?
these people got the politicians they wanted
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This will affect most high density urban areas in California, accelerating the Exodus.
A friend in San Diego pointed out that a 2”x 4”x 8’ stud was $10 before the fire!
Well, MISSION ACCOMPLISHED by the California leftist ruling elite.
That means 70 percent of the land will be available for speculators to start another land rush.
Some big boys will Probably turn it into a resort area.
Watch elitist gobble up the property, build 25-radium smart cities, and become overlords to the serfs.
They burned you off your land just like in times of old.
I’m surrounded these people are very angry at the politicians in office right now. So they’ll just vote for different democrats...
Like in Maui
The people who lived in Malibu and the Palisades, I’m sure are very angry at the politicians in office right now. So they’ll just vote for different Democrats...
While I agree on some speculation going on....if you have property taxes to contend with, with delay tactics by build-permit folks, and new interpretations by the Coastal Commission....there won’t be a frenzy to rebuild, and marginal interest in buying the property. Add on this...if they can’t fix the future fire protection ‘trust’...why rebuild?
I’ll predict by 2035...at least one-third of the burnt-out property is still sitting vacant.
A mini land rush.
The news media is misleading. Makes it sound as if L.A. is all burned down. Gone. Actually, it's just a couple of neighborhoods in a vast county. A tragedy for those who lived there, but a fraction of the county.
It's been reported that thousands of homes have been lost. Even if that's true, there are millions of homes in L.A. So thousands would only be 0.1%
All those acres that have burned, most of it is empty brush land.
Both Newsom and Bass have promised to eliminate red tape, so as to speed the rebuilding process.
We'll see if that happens.
Do you know the way to San Jose?
I’ve been away so long
I may go wrong and lose my way
Do you know the way to San Jose?
I’m going back to find some peace of mind in San Jose
LA is a great big freeway
Put a hundred down and buy a car
In a week, maybe two, they’ll make you a star
Weeks turn into years, how quick they pass
And all the stars that never were
Are parking cars and pumping gas
You can really breathe in San Jose
They’ve got a lot of space
There’ll be a place where I can stay
I was born and raised in San Jose
I’m going back to find some peace of mind in San Jose
Isn’t that convenient for the 15-minute cities?
Democrats screwed things up so bad the insurance companies all fled. Newsom and Bass seem actually happy about it.
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