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'Million Dollar Listing' star says up to 70% of Palisades residents will not return after devastating LA fires
Fox News ^ | January 17, 2025 | Christina Dugan Ramirez

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.

....

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.

...

Altman said people are "fed up" with the drama with various insurance policies.

...

"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.

...

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.

...

"I don't see these houses in places like the Palisades or Altadena — I don't see that happening for three years,

...

it's going to be four to five years," he added. "That's the realistic timeline on this.

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; Politics/Elections; US: California; US: Hawaii
KEYWORDS: 15minutecities; california; fires; joshaltman; lafires; losangeles; milliondollarlisting; pacificpalisades; palisadesfire; property; smartcities; un2030; wildfires
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1 posted on 01/17/2025 8:32:53 PM PST by george76
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To: george76

Sounds like they got what they wanted. Just funny that these IDIOTS voted and financed these people to ‘cleanse’ them from their homes.


2 posted on 01/17/2025 8:35:19 PM PST by BobL
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To: george76

I can believe it. The bigger the house, the greater the loss if you lose it.


3 posted on 01/17/2025 8:35:49 PM PST by Jonty30 (If you ate your twin in the womb, your pronouns should be we/us.)
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To: george76

whats the bad news?

these people got the politicians they wanted


4 posted on 01/17/2025 8:38:10 PM PST by RockyTx
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To: george76
Altman said people are “fed up” with the drama with various insurance policies.

><

This will affect most high density urban areas in California, accelerating the Exodus.

5 posted on 01/17/2025 8:41:50 PM PST by The_Media_never_lie ( @whoisourPresident)
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To: george76

A friend in San Diego pointed out that a 2”x 4”x 8’ stud was $10 before the fire!


6 posted on 01/17/2025 8:43:33 PM PST by The_Media_never_lie ( @whoisourPresident)
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To: george76

Well, MISSION ACCOMPLISHED by the California leftist ruling elite.


7 posted on 01/17/2025 8:45:12 PM PST by House Atreides (I’m now ULTRA-MAGA-PRO-MAX)
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To: george76

That means 70 percent of the land will be available for speculators to start another land rush.


8 posted on 01/17/2025 8:47:56 PM PST by mairdie (Gulf War Playlist - https://www.youtube.com/playlist?list=PLYTtL1FB2XCporCVBsqWMTsktTHdif1PL)
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To: mairdie

Some big boys will Probably turn it into a resort area.


9 posted on 01/17/2025 8:50:02 PM PST by Sacajaweau
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To: george76

Watch elitist gobble up the property, build 25-radium smart cities, and become overlords to the serfs.


10 posted on 01/17/2025 8:50:05 PM PST by stars & stripes forever (Blessed is the nation whose GOD is the LORD. Psalm 33:12)
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To: george76

They burned you off your land just like in times of old.


11 posted on 01/17/2025 8:53:04 PM PST by McCarthysGhost
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To: george76

I’m surrounded these people are very angry at the politicians in office right now. So they’ll just vote for different democrats...


12 posted on 01/17/2025 8:54:50 PM PST by Beave Meister (Leave the gun. Take the cannoli....)
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To: mairdie

Like in Maui


13 posted on 01/17/2025 8:54:54 PM PST by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76

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...


14 posted on 01/17/2025 8:57:57 PM PST by Beave Meister (Leave the gun. Take the cannoli....)
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To: mairdie

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.


15 posted on 01/17/2025 8:58:55 PM PST by pepsionice
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To: mairdie
That means 70 percent of the land will be available for speculators to start another land rush.

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.

16 posted on 01/17/2025 8:59:36 PM PST by Angelino97
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To: pepsionice
with delay tactics by build-permit folks, and new interpretations by the Coastal Commission

Both Newsom and Bass have promised to eliminate red tape, so as to speed the rebuilding process.

We'll see if that happens.

17 posted on 01/17/2025 9:01:30 PM PST by Angelino97
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To: george76

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


18 posted on 01/17/2025 9:02:25 PM PST by mikey_hates_everything
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To: george76

Isn’t that convenient for the 15-minute cities?


19 posted on 01/17/2025 9:04:16 PM PST by E. Pluribus Unum (The worst thing about censorship is █████ ██ ████ ████ ████ █ ███████ ████. FJB.)
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To: george76

Democrats screwed things up so bad the insurance companies all fled. Newsom and Bass seem actually happy about it.


20 posted on 01/17/2025 9:04:33 PM PST by Telepathic Intruder
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