Newscum is already getting bailed out by Biden...
We are going to get hit twice. CA taxes go up, fed spends money they don’t have.
Call it an average of $4M/property for the palisades fire, x 5000 gone (palisades fire numbers that I'm seeing)....That's $20B on it's own....not counting the higher priced stuff, and not counting the Eaton fire and all the others. This is gonna be $100B by the time it's done, if not more. It's all gonna be fucked
the 4 million comes from the value of the home sitting on very pricey land.
Is he getting Zelensky money?
More like 88-128 BILLION
And not a single penny being spent on new infrastructure for water… insanity!! And they want to dry up 1.5 million acres of the best farm ground in the country… 
www.latimes.com
I guess it will depend on the homes being built, but I would imagine most will be $2m plus. Prices are not low and this won't help anything.
I think the fair plan caps at $3mil in coverage.
Well see, there's the rub. It was pricey land, but now it toxic contaminated land with a few standing homes surrounded by burned out ruins. It ain't worth shit IMO. Would you wanna live there and pay $3M for a plot of burned dirt without commitments from everyone else to make it a nice neighborhood again? I wouldn't. So...it's worthless at this point. Oh....and you'd better bring cash for the plot of lousy dirt and to build your new house, cuz nobody is gonna insure you so financing is off the table.
They wouldn't.
Well for one thing, for the next almost 10 years there's going to be very little to burn. At least that's the way it was in for us, but about 10 years later, after we rebuilt, the insurance company who's President stood for a photo-op in our driveway, canceled our asses.
Why would any company offer insurance in CA?
They effectively don’t. That’s why we end up with the CA FAIR plan
CA government is trying to pass legislation that will force insurance companies to offer insurance and cap what they can charge.
That's correct. The government's solution to the problem they created by refusing reasonable rate increases was to construct FAIR, underfund it, and if losses overwhelmed the program, insurance companies would have to pick up the balance.
Definitely have concerns about the future of home ownership policy availability and rates.
The smallest properties in Pacific Palisades are worth 2.5 to 3 mil burned to the ground and there are people lined up to buy them. Most of my customers pay 3.2-3.5 mil for Palisades properties that are total tear downs. The new builds are 8-9,000 s/f with full basements and a pool. They sell for between 8.5 to 12 mil depending on quality and design.
It always amazes me just how much money is out there in this world and what people are willing to spend it on without batting an eye.
