Posted on 01/26/2025 4:56:07 PM PST by ChicagoConservative27
Former ‘Million Dollar Listing’ star and Los Angeles real estate agent Josh Altman said Friday on Fox Business Network’s “Varney Co.” a lack of adequate home insurance was the main reason 70% of Pacific Palisades residents won’t return.
Guest host David Asman said, “I heard a figure 70% of Palisades residents would not return after the fires there. What does that mean for the county?”
Altman said, Yeah, David, thanks for having me again. I want to preface that statement and explain it a little bit. They’re not gonna not return because they don’t want to return. Of course, they want to go back there. For every one person leaving the Palisades, there’s another five that would love to be there.”
(Excerpt) Read more at breitbart.com ...
That’s OK.
BlackRock/Vanguard will be happy to purchase their properties for pennies on the dollar.
Too much toxic waste there to even visit, much less rebuild, according to the mayor. Turn the site into a nuclear power/ desalination plant. With adjacent affordable housing, of course.
A kickback two-fer.
I hear Seattle nice, but they should avoid Texas unless they want to get shot.
just going to drive up prices even more around the rest of the country when these aholes move there
Isn’t Newsom’s tax base disappearing?
Makes you wonder how the fires started. Like Hawaii…maybe some big democrat donors are going to make big money because of the fires. God knows.
I also expect many will simply default on their mortgage and walk away leaving mortgage lenders with scorched earth barren lots
It’s easy to see how insurance rates have skyrocketed in Kalifornia because of fires just as they’ve skyrocketed in Florida because of hurricanes
Just in time for the Olympics.
I live in northeast los angeles county in the mountains in a wildfire area. My fire insurance didn’t go up very much, still $2000 a year. My friend that lives 10 miles away got his renewal 6 months ago and they wanted $70,000 a year now. He did what I did on my other house and PAID it off and is self insured. The house I actually live in is not insured.
Ya see, it you live in CA you have to have adequate insurance. And after these fires, you’ll need to be wealthy to just afford the insurance. Hell, these people were paying up the ying yang before these recent fires.
If you insist on living in a flood plain, or if you insist on living in a fire prone habitat, your insurance will be very high, if you can get any at all. Simple as that.
Choose wisely where you live.
And where was Newsom’s state insurance commissioner?
Speculators will buy up the land and put up high density/low income housing increasing the value of other exclusive neighborhoods. I feel for these people but I feel more for the NC folks.
Fill the reservoir. Problem solved. All the new houses can be Mediterranean.
“living in a fire prone habitat”
It wouldn’t be bad if government did its job. But that applies to crime, taxes, etc. in CA.
Except Trump said every single person he talked to in Pacific Palisades not only wanted to build back, not only wanted to stay there and go nowhere else.....but they were ready to build back tomorrow. That’s why he and the mayor got into it.
The residents want to begin clearing their lots now and don’t want any red tape. They want their new houses built now. And they have the money to do it.
Not Sure this Josh knows what he is talking about.
he left the show? I used to watch when I had cable. Always liked it but haven’t seen it in more than a year
I’m glad you are ok
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