Last week, comedian Adam Carolla gained widespread attention for a video in which he discussed the challenges Californians face in rebuilding their homes after the devastating wildfires. Now, California real estate agent Josh Altman is shedding light on the grim reality many residents are facing in the aftermath of the fires.
Altman confirms what Carolla highlighted, stating that a significant number of people may not be able to afford the cost of rebuilding their homes. Others may opt to relocate instead of waiting for the lengthy rebuilding process. Even those with the financial means to rebuild may be deterred by the prospect of living in a construction zone.
FOX News reports:
âMillion Dollar Listingâ star says up to 70% of Palisades residents will not return after devastating LA fires
“Million Dollar Listing” star Josh Altman has expressed doubt that the Pacific Palisades will ever be the same, as he predicts that the majority of families may choose not to return.
In a recent interview with Fox News Digital, Altman discussed the impact of the Los Angeles fires on the residents of the Southern California town and speculated about the future.
According to Altman, his insurance agent informed him that “90-plus percent of these people are heavily underinsured.”
Altman further commented, “I believe that 65-70% of the residents will not return to the Palisades or Malibu. I have received numerous calls from individuals inquiring about listings in different neighborhoods.
“Many people are expressing a desire to avoid living in fire-prone areas,” he continued. “Considering the recurring instances of fires in the region, the likelihood of future incidents is a concern. The emotional and logistical toll of the rebuilding process may also dissuade many from returning.”
View the video below:
NEW: Celebrity realtor Josh Altman suggests that 50% of former Palisades residents may not return, with many opting to leave the state or relocate to Orange County.
Altman highlighted that a majority of those who lost their homes lacked insurance coverage and may struggle to rebuild.
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â Collin Rugg (@CollinRugg) January 17, 2025
Although Governor Gavin Newsom and other California leaders have pledged to streamline the rebuilding process by reducing bureaucratic hurdles, many residents remain skeptical of the feasibility of such efforts. Moreover, the extent of the destruction is so vast that the reconstruction is expected to span several years.
