Home US Real estate makes grim predictions for the future of LA and reveals why homeowners will never return after burning

Real estate makes grim predictions for the future of LA and reveals why homeowners will never return after burning

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Former Million Dollar listing broker Josh Altman believes that the reconstruction will be a challenge and painted a devastating reality for many former homeowners

A broker from Los Angeles believes that no less than 70 percent of the inhabitants of Pacific Palisades may never return to rebuild their houses.

The community in southern California was destroyed by unprecedented forest fires, which have scorned more than 50,000 hectares since 7 January, demanded 28 lives and destroyed more than 16,000 structures.

Despite commitments to rebuild, former Million Dollar Listing broker Josh Altman believes that this is more easily said than done. He outlined a devastating reality for many former homeowners with particularly grim challenges.

“They don’t stay away because they don’t want to return,” said Altman Fox. ‘Of course they want back there. They don’t come back because it’s simple math. I don’t believe they can afford to rebuild. “

Altman is known for mediating high -quality real estate deals in Los Angeles, which outlined a difficult economic landscape.

‘We are talking about $ 1,000 per square meter in places such as the Palisades and Malibu. Now that most people are heavily underinsured and the construction costs are rising – wood, steel, all – it is simply not feasible for many, “he said.

Altman’s grim forecast is even worse by the logistics nightmare of reconstruction in an area that looks more like a war zone, full burned buildings, an axle layer in the area and toxic chemicals everywhere.

‘It will be virtually impossible to have a building team appear at your location if 16,000 buildings – houses, schools, commercial buildings – have been destroyed.

Former Million Dollar listing broker Josh Altman believes that the reconstruction will be a challenge and painted a devastating reality for many former homeowners

In an aerial photo there are neighborhoods in ruins after last week's deadly Eaton Fire

In an aerial photo there are neighborhoods in ruins after last week’s deadly Eaton Fire

In this aerial photo you can see houses that burned down to the ground during the Eaton Fire in Altadena, California

Houses that burned down to the ground during the Eaton Fire in Altadena, can be seen in this aerial photo

“It’s a disaster. Even with insurance I don’t know if they can. “

Since the beginning of January, southern California has been struggling with ruthless forest fires, with the flames flooding entire communities and leaving destruction.

When the fire conditions decreased on Friday, the region braced itself for isolated rain showers during the weekend.

Although the much needed precipitation could help in controlling persistent hotspots, it also pays a new threat: mud flows in areas with scars of fires.

In response to the huge fires, President Donald Trump proclaimed the national emergency state after he had made a tour on Friday through the most struck areas, including Pacific Palisades and Malibu.

Accompanied by residents who had lost everything, Trump from first hand witnessed the immense size of the catastrophe.

Early estimates estimate the financial toll at around 50 billion dollars, a figure that amply surpasses earlier disasters in the region.

The situation has been exacerbated by a shrinking insurance market in California, in which large providers withdraw, reduce the coverage or completely refuse to write out new policies.

The communities in southern California were destroyed by unprecedented forest fires, which have scorned more than 50,000 hectares since 7 January, demanded 28 lives and destroyed more than 16,000 structures.

The communities in southern California were destroyed by unprecedented forest fires, which have scorned more than 50,000 hectares since 7 January, demanded 28 lives and destroyed more than 16,000 structures.

Trump spoke with residents while he toured by a fire affected by Pacific Palisades in Los Angeles

Trump spoke with residents while he toured by a fire affected by Pacific Palisades in Los Angeles

President Donald Trump talks to the Californian governor Gavin Newsom after arriving at the Air Force One at the International Airport of Los Angeles in Los Angeles, on Friday

President Donald Trump talks to the Californian governor Gavin Newsom after arriving at the Air Force One at the International Airport of Los Angeles in Los Angeles, on Friday

Marine One, with US President Donald Trump on board, flies above the destruction caused by forest fires around Los Angeles, California on Friday

Marine One, with US President Donald Trump on board, flies above the destruction caused by forest fires around Los Angeles, California on Friday

Trump and First Lady Melania walk with Jason Hing, capital replacement for the emergency services at the Los Angles fire brigade, left, and captain Jeff Brown, head of station 69,

Trump and First Lady Melania walk with Jason Hing, capital replacement for the emergency services at the Los Angles fire brigade, left, and captain Jeff Brown, head of station 69,

The Governor of California, Gavin Newsom, has approved a range of 2.5 billion dollars aimed at restoring natural fires, but Altman believes that financing will not be sufficient to overcome the obstacles of the reconstruction.

The state of California has a notoriously slow and bureaucratic building process.

“The recipe for success is the reduction of the administrative hassle,” Altman suggested. ‘Building a house in California is accompanied by so much bureaucracy. Just obtaining permits can take a year, and if you are close to the coast, the coastal committee can add another two years.

‘It is time for the governor to take action and removes these roadblocks. We have to move forward as a team. “

Altman also suggested that specific rules and taxes must be withdrawn, such as the country house tax and the nature regulations.

“Get rid of it for all the people who have lost their house,” he said. “That’s how we become a strong Los Angeles.”

Altman also shared his opinion after he himself had traveled through the communities ravaged by Brand.

“You have to see it to believe it,” he said. “I walked the Palisades and Malibu. It is personally much worse than you could ever imagine. Hopefully seeing this destruction will lead to more financing at the federal level. “

(Tagstotranslate) DailyMail

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