Real estate expert Josh Altman thinks that many people who lost their homes in the Pacific Palisades fires won’t come back. In an interview with Fox News, he said he believes that about 65-70% of these people might not return to the area or Malibu. Altman pointed out that most of them are underinsured, which means they do not have enough money to rebuild or buy a new home.
He also mentioned that he has received many calls from people who are looking for homes in safer neighborhoods because they are scared of living in areas that could be affected by fires again. Since the Pacific Palisades has experienced multiple fires, they fear it could happen again.
Altman believes that many residents won’t want to deal with the long and stressful process of rebuilding their homes after what happened. He sees a lot of newcomers moving into the area instead.
Despite these changes, he thinks the Pacific Palisades will still be a very popular place to live because of its great location near the beach and its wonderful community. However, it will have a different group of people living there in the future.
Leave a Reply