Wildfires and the California Housing Market
Some back-door data on the California real estate market via rebuilding statistics from the 2007 wildfires in southern California. A year later, only 150 homes out of the 1,646 burned -– roughly 9% -– have been rebuilt. While it looks we will make it to at least 36% before too long, a surprisingly large number of people are simply dropping out of the housing market.
The issues? Manifold, but too little insurance to build in price-inflated California is right up there.
