Fair call......yes, a lot are in that situation. I do give credit to the people who are honest about it. One guy's home survived on the waterfront and he made a lot of money in Texas and he did say it was just a holiday home. His concern was for others.
Absolutely. I was shocked that there's no huge center opening for "displaced persons" like you see in every other natural disaster of this size. No people wearing blankets and sleeping on floors or community centers and trying to get food to them, etc. What they're going through is horrific, but let's face it, it could have been much, much worse.
@@purselmer5931What are u watching because there’s ppl in lines looking for food and housing! Everyone in those areas are not celebrities or billboards 🤷🏾♀️
@@Yah-Yah733The average home in the Palisades is worth $2-3 million dollars. Can you show me the lines for food and shelter? Maybe in Altadena I can see it but even homes there are averaging $1.5+ million
@@Yah-Yah733 BUT THEY ARE WEALTHY - WHEN WILL WE LEARNG GOD CONDEMNS WEALTH. i follow Jesus & SO DO I. i pray they see the BLESSING in being purged of their gluttonous wealth instead of helping the poor. they WHINE & COMPLAIN about having to step over the homeless but WON'T HELP - we reap all we sow, God Will Not Be Mocked & God IS our Poor. i'd rather help Him in the poor then receive His Wrath.
Everyone in the Palisades needs to fight back and put Tiny homes on wheels or RVs on their properties once cleared. Othewise Blackrock, Gov Newsom etc will build their evil "LaSmart28" sky rises 15 min apartments cities prisons on this burnt out land. Their diabiacal LAmart plan has been in the works since 2020 the only issues was all the homes/businesses in the way. Now they are no longer in the way. ASK: "Who set the fires?!" Follow the money!!!!!! WAKE UP FOLKS connect the dots since 2019 as to what is really going on in the world. If you dont know who Black rock is or LAsmart start getting educated via nations conspire, tim truth, peggy hall and more
The greedy developers and sellers will now jack the prices up even more just like the rentals already are because they know people are desperate. The couple that built the fireproof home will have many seeking their expertise now. Even those homes that survived, you're looking around each day at rubble and must feel like you're living in the midst of a dump. Not to mention the toxic fumes from the ash etc.
He is exactly right I had friends that lost their homes in the paradise fire to put it in perspective. It took two years just to clean it up and after two years and you have to remember over 50,000 dwellings were lost. Only six building permits have been issued.
@ in the area it was not only paradise right above Paradise Magalia and to the south Concow it is just called the paradise fire but there’s more than one town or community. I was involved and help my friends, so I have first-hand knowledge.
Robert it was 18,804 structures destroyed. That includes residential, commercial and “other” types of buildings. An additional 754 were damaged. The fire burned over 153k acres and displaced more than 50,000 PEOPLE, not structures. Those people came from the communities of Paradise, Concow, Pulga, Centerville, Berry Creek, Yankee Hill, Butte Creek Canyon and Magalia.
You guys are so obsessed sith correcting him you don't notice the fact that the devastation was smaller than he originally said emphasises his point. Even 15,000 lost structures leads to a many year rebuild, more than that would take even longer@alyssa0411
A lot of these people will have to sell or declare bankruptcy. You can't make mortgage payments if you are paying for a price gouging rental at the same time.
Any who's home wasn't already paid off will have to claim bankruptcy. The other's can just sell their property for a down-payment on another home and restart so long as they are still working and have a retirement fund to dip into and lower their standard of living and move a few hours away where they can afford to buy.
I will make this simple. I have been working in the insurance industry for 16 years. Let me tell you something, it insurance companies are not willing to insure that is a red flag. Reinsurance companies are telling insurers “we are not insuring you” or significantly raising reinsurance premiums. This is the issue. Governments have no idea how P & C insurance works. Even many financial professionals don’t. When a reinsurance company either says 1) they are out of the market or 2) significantly increase premiums - this is your sign to RUN. Never ever build when a reinsurance company pulls out. They are like prophets. They have way more intel than even the government I am telling you. The government will lean on US for data about the probability of loss and when reinsurance companies from the UK say the risk is too high, you are throwing your money away.
Well the governor said he will expedite it, but honestly after that one house cracked in half and slid down the hill, anyone who builds there will and should need engineers from the army to completely redesign that entire neighborhood. They need a big park in the middle with a reservoir and a fire station.
anyone that isn't a corporation can't afford those retail spaces, and since they're owned by billionaire investors they can afford to let it sit until their asking price is met. they are rubbing their hands together at all the new opportunities in the palisades. might as well rename it chinese palisades.
4 to 5 years?! It will be at least a decade before the Palisades is even close to being restored to what it was and that's if LA does't completely fuck it up. With LA's track record, it will be a shit show.
You ready for changes? They’re gonna happen wether you ready or not just be prepared! La is going to flourish and if you own in LA you going to make bank now don’t let anyone buy your property and see what’s going to happen around you
You ready for changes? They’re gonna happen wether you ready or not just be prepared! La is going to flourish and if you own in LA you going to make bank now don’t let anyone buy your property and see what’s going to happen around you
Good as I live in a very upscale neighborhood in the Summerlin master plan in Las Vegas and would be happy to see the home prices go up even more. Saying that, I think that as he said, Newport Beach and surrounding Orange County will be a desirable place but they too have fire danger; Scottsdale would be a good spot outside California as well. The likely scenario will be that people will sell, developers will come in and rebuild which will be a long term process. Few people want to live in a house with constant construction nearby.
@@eddieg6436 PP isn't younger families. If anything PP is older than Brentwood because it's more expensive. Plus Brentwood is known for the better schools. Unless you're born into wealth, the vast majority of young families in LA don't live on the west side at all because it's way too expensive.
@ I used to grab a coffee at Erawhon on Sunset Blvd and sit for hours watching HUNDREDS of kids and teenagers walk the sidewalks getting smoothies, carrying their athletic gear after their school sports, and school activities. Many, MANY families walking the village……day after day, month after month, year after year.
the land is now often saturated with various chemicals, no more greenery, absolutely no charm before 15 to 30 years, almost no more trees, but above all a huge traffic of vehicles to ensure the reconstructions, noise caused by construction machinery. construction site workers' cars, cranes mounted on materials, jackhammers and other electro-pneumatic drills, chainsaws and circular saws, nail guns tires it will be a noise which will resound constantly for several years, also presence of thieves looking for tools and materials! the place will remain an area to be avoided for a long time and future homes will be far from being worth what those in were worth before, the adjacent areas still in good condition will also depreciate because the neighborhood will have lost all its charm but also by the intense traffic which will have to cross these unburned areas to access these thousands of construction sites!
Which is why they should just let developers come in and buy up the lots en mass because that's the only way it's going to make any sense realistically and financially.
You thought real estate agents and developers don't work for money? Adapt and move on. Everyone doesn't work for the government or live off of handouts.
Yeah I'm scared to live.... What else is coming in the years ahead... What to look forward to...... Scared of the earthquake hitting California soon too.
8 billion people is too many when the VAST majority of said people are functionally useless and demand food, housing, water and marvel movies. Stop blaming drones and Puffy and blame your parents for making low quality redundancy.
Have known the Palisades area well over 55 years. My place of worship since childhood - the Lake Shrine - is there and miraculously survived the devastating fire, unscathed. I can firmly state that the Pacific Palisades environs, being so greatly coveted over several decades, has been built up to excess. If future re-development results in being substantially scaled back, it may prove to be for the greater good all around.
@@janetkriegl6720 God bless 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏! This news about Lake Shrine is EXACTLY what I wanted to hear!! I'm crying 😭 tears of joy!! P.s. You're right it was overdeveloped. I'm still sorry for their losses!!
The idea of "rebuilding" is not really realistic. If ONE house burnt down or a couple houses did, it could be rebuilt in the next few years. But, the number of houses to replace and the resources needed to do that is so much that most people need to be realistic and understand that. Time isn't waiting and kids grow up quickly. I think it is really realistic for people to not expect that they will be returning for the next decade-- and be pleasantly surprised if it moves along quicker than that. Prayers to all. The grief will be a lifetime.
Topanga fire victims - Moved to Malibu thinking there won't be fire there. Wrong. Malibu fire victims - Moved to Palisades thinking there won't be fire there. Wrong. Palisade fire victim - Moving to Bel Air/Brentwood/BHPO hillside strongly believing there won't be fire. Will be wrong again. Even the Bible says build your home on flat land and on the rock. They will never learn.
A lot of these people had their insurance policies set 40 years ago when the value of the homes was half what it is now. So today they’re insured for $2M when the value pre-fire was $4M and now it will cost $6M to re-build to the level of home they had pre-fire. People in Northern California learned this painful lesson in 2017, then 2018, then 2019 with 3 straight years of wildfires.
All State Insurance canceled all fire insurance policies 3 mo.before these fires ?? 🔥 Who tipped them off ? Who planned and executed these fires 🔥? Why did PRESIDENT Biden send the LA Mayor away to Ghana 2 days before ?
Building experts say if it is a stock standard type simple home it can be within 2 years but some of those homes were mansions with special buttons for everything and it will take much longer.
I remember after the Northridge earthquake, homeowners couldn’t get out of Northridge fast enough. Today 1/17/25 is the 31st anniversary of the earthquake. Those houses on average sell for 8 hundred thousand to a million dollars.
He said the majority were drastically underinsured……Im assuming the reason they’re underinsured is because the per square foot sell prices in that area exceeded 2000 per square foot.
People will forget, and it will happen again. Look up the 1959 film "design for disaster" in which they predicted the Bel Air fire which destroyed 484 homes.
Main point I got from this is most people in the Palisades were living in multi million houses but didnt have the net worth to self insure if things burned up. So many people in LA just keeping up appearances to look rich when they are not. They could probably sell a burned up lot in the Palisades for 500K and move to a nice town in the midwest, though.
Many residents will probably take the insurance payout (if applicable) and sell their lot, then rebuild outside of State of California where cost of living is affordable.
@@sixone225625 million? That's a very very small percentage of the homes. Most people there are old and purchased ages ago. The homes are only worth 3-4 million just because of the location. And they're screwed because they probably didn't have fire insurance.
@@deborahgalvan5367 Insurance companies watch cities and observe their policies. LA stopped prescribed burning last year. They cut the FD budget. They also watch the weather. Then, they account for the risk. Thousands lost the fire insurance last year.
NO, You need to build your home differently! Tbh only way moving forward to build fire resistant materials and adhere to planting vegetation a few ft away from home.
Good luck coming here to Newport Beach, a home 2 doors down just sold for 5.4 million at 3300 square feet and the lot was only about 7500 square feet…. There isn’t much inventory and the prices are on the moon PRE fires…
Why rebuild in the same place that could burn again in the future? Our climate is getting worse and once the bushes in those mountain grows again there is a potential for a repeat of this disaster.
If they didn’t have insurance they couldn’t afford it to begin with. There are thousands of communities in this country that offer the same great family lifestyle as the Palisades. This is such a typical pretentious attitude of many Californians.
A few years ago Hollywood revealed that it does more domestic filming in NYC , now it’s actors have had their homes destroyed. I expect Hollywood relocation shortly.
I do agree that leadership and city dropped the ball big time. An empty reservoir during a crisis is unforgivable Bigger issue imo is how the houses are built- they are flammable and it didn’t take much for this to happen. Just a little ember can take down an entire house plus the neighbors! Houses that had sprinklers on their roofs or aluminum roofs survived.
Thank you for an honest and informative video. Once in a while TMX does an honest report. Josh Altman was brutally honest, but that makes him more credible as a realtor. This is what is really happening, not all those interviews where the people keep saying they’re going to rebuild, blah blah blah. Thank you, Josh and TMZ.
Pacific palisades tax base is gone. How the hell will LA pay the bloated salaries to the insane amount of government employees? I wouldn’t buy bonds in California. Never
The county will reduce property tav valuation based on loss of structures. But, not on the lot. So, people will still owe taxes on their million dollar, ocean view lot. But if the area is deemed uninhabitable, that opens a whole new can of worms.
My concern is isn’t about the Richie Rich that can buy whatever they want in the blink of an eye. It’s the people that may not have the money to get a new house or rent. What about those people that are really going to struggle? Those are the ones that helped.❤🙏🏻
@@eddieg6436 Oh we understand perfectly! So many are without homes in NC because of the flooding and everyone has forgotten them. And yes, loosing your home is devastating no matter how big or how small. These folks there will now come to the realization that the entire country is hurting! My heart goes out to all affected by this.
@ There are almost 50 MILLION people in California who pay huge TAXES. Just like Florida, New York, Illinois, and Texas, CALIFORNIA is a “Parent” of the U.S.’s smaller inhabited states (Montana BARELY has a million people!!). …….in a nutshell, Californians (and those few other mentioned large population states) PAY FOR EVERYTHING.
@@eddieg6436 it depends on what you consider “All American” too 🤷♀️. My definition of All American is quite different than yours, I know that. I certainly don’t understand L.A., and truthfully, I’m glad I don’t. It’s not a place I consider worthy of understanding as far as the people and culturally speaking. Now, if you’re talking about the natural beauty of the city and the wildlife animals, that’s different, but L.A. is not a good representation of America in my opinion.
Most displaced pacific palisades residents already moved into their 2nd homes. That’s why they don’t need to go back
Fair call......yes, a lot are in that situation. I do give credit to the people who are honest about it. One guy's home survived on the waterfront and he made a lot of money in Texas and he did say it was just a holiday home. His concern was for others.
Absolutely. I was shocked that there's no huge center opening for "displaced persons" like you see in every other natural disaster of this size. No people wearing blankets and sleeping on floors or community centers and trying to get food to them, etc. What they're going through is horrific, but let's face it, it could have been much, much worse.
@@purselmer5931What are u watching because there’s ppl in lines looking for food and housing! Everyone in those areas are not celebrities or billboards 🤷🏾♀️
@@Yah-Yah733The average home in the Palisades is worth $2-3 million dollars. Can you show me the lines for food and shelter? Maybe in Altadena I can see it but even homes there are averaging $1.5+ million
@@Yah-Yah733 BUT THEY ARE WEALTHY - WHEN WILL WE LEARNG GOD CONDEMNS WEALTH. i follow Jesus & SO DO I. i pray they see the BLESSING in being purged of their gluttonous wealth instead of helping the poor. they WHINE & COMPLAIN about having to step over the homeless but WON'T HELP - we reap all we sow, God Will Not Be Mocked & God IS our Poor. i'd rather help Him in the poor then receive His Wrath.
Never let a crisis go to waste...times like this, you get to see the best and worst in people
For real! 💯
And companies (most specially insurance companies)
Amen!👍
sadly, that's true.
Pacific palisades is full of toxic ashes 😢
Ur d.a.m
And the magic invisible wall has prevented the fumes and ashes from blowing across the region.
And that's not even the fire you are talking about
Blackrock will own palisades
Could have had Caruso.
@@Matthew-vb8qb 🤮
Blackrock and Vanguard.
over my dead body
Everyone in the Palisades needs to fight back and put Tiny homes on wheels or RVs on their properties once cleared. Othewise Blackrock, Gov Newsom etc will build their evil "LaSmart28" sky rises 15 min apartments cities prisons on this burnt out land. Their diabiacal LAmart plan has been in the works since 2020 the only issues was all the homes/businesses in the way. Now they are no longer in the way. ASK: "Who set the fires?!" Follow the money!!!!!!
WAKE UP FOLKS connect the dots since 2019 as to what is really going on in the world. If you dont know who Black rock is or LAsmart start getting educated via nations conspire, tim truth, peggy hall and more
The greedy developers and sellers will now jack the prices up even more just like the rentals already are because they know people are desperate. The couple that built the fireproof home will have many seeking their expertise now. Even those homes that survived, you're looking around each day at rubble and must feel like you're living in the midst of a dump. Not to mention the toxic fumes from the ash etc.
A seller won’t have to jack up the price, the buyers will do that.
When you don't understand basic Econ 101. Be mad at the govt incompetence and the people who voted it in, who are accountable for how bad this got.
Josh Altman himself has the house he and Matt bought for their parents for rent at an insanely inflated price. It's on Waynecrest Dr in Beverly Hills.
@volcrazy89 They act like it's sad and at the same time mentally calculating their commission checks.
Cali holds the record for most one-way uhaul rentals!
He is exactly right I had friends that lost their homes in the paradise fire to put it in perspective. It took two years just to clean it up and after two years and you have to remember over 50,000 dwellings were lost. Only six building permits have been issued.
50,000 dwellings were not lost in Paradise fire. Only 26k lived there prior.
@ in the area it was not only paradise right above Paradise Magalia and to the south Concow it is just called the paradise fire but there’s more than one town or community. I was involved and help my friends, so I have first-hand knowledge.
Robert it was 18,804 structures destroyed. That includes residential, commercial and “other” types of buildings. An additional 754 were damaged.
The fire burned over 153k acres and displaced more than 50,000 PEOPLE, not structures. Those people came from the communities of Paradise, Concow, Pulga, Centerville, Berry Creek, Yankee Hill, Butte Creek Canyon and Magalia.
@ T G A T D
You guys are so obsessed sith correcting him you don't notice the fact that the devastation was smaller than he originally said emphasises his point. Even 15,000 lost structures leads to a many year rebuild, more than that would take even longer@alyssa0411
A lot of these people will have to sell or declare bankruptcy. You can't make mortgage payments if you are paying for a price gouging rental at the same time.
Yup. They were all ill prepared.
Any who's home wasn't already paid off will have to claim bankruptcy. The other's can just sell their property for a down-payment on another home and restart so long as they are still working and have a retirement fund to dip into and lower their standard of living and move a few hours away where they can afford to buy.
The sale of their lot probably won’t cover the mortgage principal, so there will be a balance to be paid.
From my understanding the value was in the land not the structure.
There is competition for rentals.
A lot of older people in Palisades can't wait or afford to return.
Yes I feel bad for them
If ur 75, just cash out and move out of cali.
I will make this simple. I have been working in the insurance industry for 16 years. Let me tell you something, it insurance companies are not willing to insure that is a red flag. Reinsurance companies are telling insurers “we are not insuring you” or significantly raising reinsurance premiums. This is the issue. Governments have no idea how P & C insurance works. Even many financial professionals don’t. When a reinsurance company either says 1) they are out of the market or 2) significantly increase premiums - this is your sign to RUN. Never ever build when a reinsurance company pulls out. They are like prophets. They have way more intel than even the government I am telling you. The government will lean on US for data about the probability of loss and when reinsurance companies from the UK say the risk is too high, you are throwing your money away.
So Florida is out as well?
@@MagnificentSailsI would rent in Florida. I would only buy in Florida if I could financially absorb a total loss.
I feel so bad for the families who lost everything and have no resources to really recover and will have limited options.
Condolences to the families who lost a loved one.
Hes right. Look at lahaina. It takes FOREVER to get approval to rebuild.
Well the governor said he will expedite it, but honestly after that one house cracked in half and slid down the hill, anyone who builds there will and should need engineers from the army to completely redesign that entire neighborhood. They need a big park in the middle with a reservoir and a fire station.
No one on the ocean side of PCH will get permits to rebuild. It’s a liberal environmentalist dream to have all those houses gone forever.
@@woodystube1000Let them rebuild there. The house will be under water in 10-15 years.
I’m sure the red tape to rebuild will be ridiculous… on purpose…
@megank3412 there's a fine line between on purpose and safety.
anyone else seeing those empty retail spaces behind him?
Commercial real estate isn’t doing well in La
@@kaveh1836 dang, and thats book matched marble or granite or whatever, it was installed with some effort.
With Hollywood movies, network television and the music industry being less profitable, LA gunna be the next Detroit
anyone that isn't a corporation can't afford those retail spaces, and since they're owned by billionaire investors they can afford to let it sit until their asking price is met. they are rubbing their hands together at all the new opportunities in the palisades. might as well rename it chinese palisades.
4 to 5 years?! It will be at least a decade before the Palisades is even close to being restored to what it was and that's if LA does't completely fuck it up. With LA's track record, it will be a shit show.
realtigence AI fixes this. Most displaced won't return: Altman
Come to Compton. We welcome you with open arms! 😂
What part of Compton? I do thk Compton has nicer area and mostly, peaceful.
🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🤣🤣🤣💪🏻🔥🔥‼️‼️💪🏻
Oy vey?
You ready for changes? They’re gonna happen wether you ready or not just be prepared! La is going to flourish and if you own in LA you going to make bank now don’t let anyone buy your property and see what’s going to happen around you
You ready for changes? They’re gonna happen wether you ready or not just be prepared! La is going to flourish and if you own in LA you going to make bank now don’t let anyone buy your property and see what’s going to happen around you
I have a feeling majority of the residents from Pacific Palisades will be relocating to Las Vegas too.
Good as I live in a very upscale neighborhood in the Summerlin master plan in Las Vegas and would be happy to see the home prices go up even more. Saying that, I think that as he said, Newport Beach and surrounding Orange County will be a desirable place but they too have fire danger; Scottsdale would be a good spot outside California as well. The likely scenario will be that people will sell, developers will come in and rebuild which will be a long term process. Few people want to live in a house with constant construction nearby.
From paradise on earth to hell on earth? I don’t believe many from the palisades would downgrade their lifestyle as to move to Vegas.
Hope that doesn't happen. It's now too crowded here, and that will only make our prices go up more.
lol you’re crazy. These people have money. Vegas is for peasants
I highly doubt it. They'll stay and go to suburbs of LA.
Palisades is all American town?! I must live on Mars.
He was right!! Beverly Hills is flashy. Brentwood is older, less flashy. Pacific Palisades younger FAMILIES!!!
They are delusional. 😂
@@eddieg6436 PP isn't younger families. If anything PP is older than Brentwood because it's more expensive. Plus Brentwood is known for the better schools. Unless you're born into wealth, the vast majority of young families in LA don't live on the west side at all because it's way too expensive.
@ I used to grab a coffee at Erawhon on Sunset Blvd and sit for hours watching HUNDREDS of kids and teenagers walk the sidewalks getting smoothies, carrying their athletic gear after their school sports, and school activities. Many, MANY families walking the village……day after day, month after month, year after year.
the land is now often saturated with various chemicals, no more greenery, absolutely no charm before 15 to 30 years, almost no more trees, but above all a huge traffic of vehicles to ensure the reconstructions, noise caused by construction machinery. construction site workers' cars, cranes mounted on materials, jackhammers and other electro-pneumatic drills, chainsaws and circular saws, nail guns tires it will be a noise which will resound constantly for several years, also presence of thieves looking for tools and materials! the place will remain an area to be avoided for a long time and future homes will be far from being worth what those in were worth before, the adjacent areas still in good condition will also depreciate because the neighborhood will have lost all its charm but also by the intense traffic which will have to cross these unburned areas to access these thousands of construction sites!
Which is why they should just let developers come in and buy up the lots en mass because that's the only way it's going to make any sense realistically and financially.
location, location, location. there will always be folks who want to live with a view of the pacific ocean.
He is like oooh I can get their dirt for cheap.
Right! Well said!
You thought real estate agents and developers don't work for money? Adapt and move on. Everyone doesn't work for the government or live off of handouts.
“Dirt cheap”? LoL dream on!
These (building) plots will still be worth a lot of money. And building a new home will be expensive.
This was no accident… Hawaii, NC, Louisiana (massacre) , drones, Diddy, and now this? Something wicked this way comes…
what does drones and P.Diddy have to do with fires? answer......nothing.
East TN and NC
Yeah I'm scared to live.... What else is coming in the years ahead... What to look forward to...... Scared of the earthquake hitting California soon too.
8 billion people is too many when the VAST majority of said people are functionally useless and demand food, housing, water and marvel movies. Stop blaming drones and Puffy and blame your parents for making low quality redundancy.
I get it. You are bold to speak the truth. I live in NC and I am from there..yes, Jesus, come quickly.
That entire area will never be rebuilt in our lifetime
I predict overseas developers will puchase a lot of the land and build ugly houses and condos on it.
Have known the Palisades area well over 55 years. My place of worship since childhood - the Lake Shrine - is there and miraculously survived the devastating fire, unscathed. I can firmly state that the Pacific Palisades environs, being so greatly coveted over several decades, has been built up to excess. If future re-development results in being substantially scaled back, it may prove to be for the greater good all around.
The entire infrastructure is gonzo
@@janetkriegl6720 God bless 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏! This news about Lake Shrine is EXACTLY what I wanted to hear!! I'm crying 😭 tears of joy!!
P.s. You're right it was overdeveloped. I'm still sorry for their losses!!
@@janetkriegl6720 Spoken like a true Californian. Good grief!
He should go on the PBD podcast. They just spoke about this yesterday. It's heartbreaking to see what's happened to CA
Pbd is circling the drain
@onetwo12onetwo526 agree to disagree
PBD is a MLM scammer and only morons think he’s intelligent or has anything interesting to say
@@No6o9y-momplaying “ bobblehead “makes one a fixture on the dashboard
No it's not heartbreaking when they elected reps who don't have their interests at heart.
The idea of "rebuilding" is not really realistic. If ONE house burnt down or a couple houses did, it could be rebuilt in the next few years. But, the number of houses to replace and the resources needed to do that is so much that most people need to be realistic and understand that. Time isn't waiting and kids grow up quickly. I think it is really realistic for people to not expect that they will be returning for the next decade-- and be pleasantly surprised if it moves along quicker than that. Prayers to all. The grief will be a lifetime.
Prop 13 locked in taxes for alot of these residential properties. Once these people move to another area, they are paying a reset property tax rate.
That's the saddest part
and most are to stupid to realize that
That's not true unless they increase the value
If your home is under Prop 13, it can be rebuilt exactly as it was (to 120% of value) and still remain under Prop 13.
The under insured are going to be hit hard here. This is so bad, and our prayers are with these people.
Topanga fire victims - Moved to Malibu thinking there won't be fire there. Wrong.
Malibu fire victims - Moved to Palisades thinking there won't be fire there. Wrong.
Palisade fire victim - Moving to Bel Air/Brentwood/BHPO hillside strongly believing there won't be fire. Will be wrong again.
Even the Bible says build your home on flat land and on the rock.
They will never learn.
the bible also says not to wear clothing made with two different materials. well guess what, sky god--- I haven't gotten a rash yet!
A lot of these people had their insurance policies set 40 years ago when the value of the homes was half what it is now. So today they’re insured for $2M when the value pre-fire was $4M and now it will cost $6M to re-build to the level of home they had pre-fire.
People in Northern California learned this painful lesson in 2017, then 2018, then 2019 with 3 straight years of wildfires.
Just spend less money. A house does not cost $6 million. 😂😂😂😂
People are so out of touch
All State Insurance canceled all fire insurance policies 3 mo.before these fires ?? 🔥 Who tipped them off ? Who planned and executed these fires 🔥? Why did PRESIDENT Biden send the LA Mayor away to Ghana 2 days before ?
More like 10 years it might come back, in 5 years maybe some homes finally get built.
Building experts say if it is a stock standard type simple home it can be within 2 years but some of those homes were mansions with special buttons for everything and it will take much longer.
Yeah and who wants to live in that construction zone for ten years….
I remember after the Northridge earthquake, homeowners couldn’t get out of Northridge fast enough. Today 1/17/25 is the 31st anniversary of the earthquake. Those houses on average sell for 8 hundred thousand to a million dollars.
Why would you want to rebuild in a place known for droughts and fires ?
That would be the entire western US?😮
they were dumb enough to live there to start with ...
Thought the same thing
It's Cali broooo
Ocean views
It was kinda like that in 1994 after Northridge earthquake, alot of people left the state.
Josh Altman just listed his own price gouged rental on Waynecrest to take advantage of the situation. Shame on him!
But fronting like he's sympathetic.
@@alohastateofmind3565he's clearly a slimy individual
He said the majority were drastically underinsured……Im assuming the reason they’re underinsured is because the per square foot sell prices in that area exceeded 2000 per square foot.
People will forget, and it will happen again. Look up the 1959 film "design for disaster" in which they predicted the Bel Air fire which destroyed 484 homes.
Nice now they can build their new trial version of "smart city". Which will expand to the whole region afterwards...
That was exactly my thoughts yesterday. My next question, is there still untapped oil under Las Angeles? 🤔
Main point I got from this is most people in the Palisades were living in multi million houses but didnt have the net worth to self insure if things burned up. So many people in LA just keeping up appearances to look rich when they are not. They could probably sell a burned up lot in the Palisades for 500K and move to a nice town in the midwest, though.
Please no, we dont need our states f'd up with their liberal woke political views.
Many residents will probably take the insurance payout (if applicable) and sell their lot, then rebuild outside of State of California where cost of living is affordable.
if you owned a 25 million dollar home, your not worried about saving money in some cheesy state lol
@@sixone2256nothing is more cheesy than LA.
I don’t blame them
Riverside, Temecula, places like this will be getting some of that influx.
@@sixone225625 million? That's a very very small percentage of the homes. Most people there are old and purchased ages ago. The homes are only worth 3-4 million just because of the location. And they're screwed because they probably didn't have fire insurance.
I feel for the people who are moving but please don't cone to Arizona
We don't want them in Oregon either.
Or North Carolina
Or Idaho
Or Florida
Just like “they” planned.
The lady in charge of keeping the empty hydrants full and running gets paid 750k a year. Just remember that.
Yeah and I heard her interview she not the most sophisticated person I have seen
Yup she was getting paid to keep them reservoirs empty. That’s why her salary was so high to take the fall she was well compensated
So moving to Bel Air, Santa Monica or Beverly Hills is an improvement? Until the next wildfire hits those suburbs.
wow I got more info out from this 3 min off the street impromptu interview, than 2 weeks of nonstop news cycle.
Jishnus very well-spoken and makes good sense. Seems like a decent guy.
When you move in a high fire or flood risk area, you need to vote for people who will ensure your safety.
You need insurance.
@@deborahgalvan5367You need insurance that doesn’t f*** you.
@@deborahgalvan5367 Insurance companies watch cities and observe their policies. LA stopped prescribed burning last year. They cut the FD budget. They also watch the weather. Then, they account for the risk. Thousands lost the fire insurance last year.
NO, You need to build your home differently! Tbh only way moving forward to build fire resistant materials and adhere to planting vegetation a few ft away from home.
@ I want my home to look like a bong or a spaceship!! 😁🙌🤘
Good luck coming here to Newport Beach, a home 2 doors down just sold for 5.4 million at 3300 square feet and the lot was only about 7500 square feet…. There isn’t much inventory and the prices are on the moon PRE fires…
It shouldn’t be so hard to live there. Prices, fires, constraints. Horrible.
Here's a tip to all the California people looking for a new home. If you leave California behind leave California in behind.
Don’t bring your crazy politics to Red states
Yeah right. Lol
There will be no services for years
Why rebuild in the same place that could burn again in the future? Our climate is getting worse and once the bushes in those mountain grows again there is a potential for a repeat of this disaster.
As someone who lives in Las Vegas i can tell you a lot of fire victims have already moved here.
If they didn’t have insurance they couldn’t afford it to begin with. There are thousands of communities in this country that offer the same great family lifestyle as the Palisades. This is such a typical pretentious attitude of many Californians.
I wouldn't want to return. What if it burned again!? Live in a safer environment. God help them, and all of us.
The Palisades was home to Native Americans. They were killed for that land. Now it’s time to give it back
Oh really,,😮
2:34 This right here. The news was making it like these companies just dropped everyone out of nowhere.
Newport Beach? Do they not understand that the OC burns too? Any town in and near the mountains and hillsides in CA for that matter.
How sad that in the middle of a human crisis… Greed immediately appears😢
Well, think of North Carolina. The rich will be fine but those in not so rich neighborhoods will struggle.
The Palasades is most definetly not the "All American Town"
😂
No kidding
And they are taking advantage by raising housing pricing. So messed up
See the future: look at Lahaina, Hawaii today to see how long rebuilding will take.
He's Not wrong i lost my house and family real estate business in hurricane ian and had to sell both gutted and rebuild at 45 years in life
Are you telling me that those folks don't want to move to Van Nuys?
A few years ago Hollywood revealed that it does more domestic filming in NYC , now it’s actors have had their homes destroyed.
I expect Hollywood relocation shortly.
Another place of beauty destroyed by stupid incompetent officials, shame on them officials
I do agree that leadership and city dropped the ball big time. An empty reservoir during a crisis is unforgivable
Bigger issue imo is how the houses are built- they are flammable and it didn’t take much for this to happen. Just a little ember can take down an entire house plus the neighbors!
Houses that had sprinklers on their roofs or aluminum roofs survived.
Good video, i was already wondering how these celebs from Million Dollar Listing view the situation. Thx for uploading!
Bakersfield! Fresno! The next Big Thing!
Prices will collapse. Hard.
Supply and demand.. not enough supply lots of demand..
Rentals already jumped 125%.
@@bradbutcher3984 and lawsuits will follow. They legally can't do that for multi unit residentials
If Josh says it, he knows. He is right.
Thank you for an honest and informative video. Once in a while TMX does an honest report.
Josh Altman was brutally honest, but that makes him more credible as a realtor.
This is what is really happening, not all those interviews where the people keep saying they’re going to rebuild, blah blah blah.
Thank you, Josh and TMZ.
Pacific palisades tax base is gone. How the hell will LA pay the bloated salaries to the insane amount of government employees? I wouldn’t buy bonds in California. Never
The county will reduce property tav valuation based on loss of structures. But, not on the lot. So, people will still owe taxes on their million dollar, ocean view lot. But if the area is deemed uninhabitable, that opens a whole new can of worms.
I would never re build there ever.
Rich investors will start buying the dirt and they will rebuild overtime or resale in a few years
The chinese are moving in..
Be weary of these snake oil salesmen.
If it's going to take 7-10 years to rebuild.,....
some of those folks can only afford two butlers and one maid now... it's terrible to live in those conditions
……My neighbor here in Calabasas (L.A.) just bought his 17 year old daughter a $180,000 Mercedes G-wagon!! 🤷🏼♂️😎👌
The ground beneath the lost homes could take years to recover.
No way that they can get permits to get their houses rebuilt in 5 years.
Yeah they ain't going back. 5 years is alot of LIFE. No one is gonna wait that out
Please keep all the libs . Who voted for this in California
My concern is isn’t about the Richie Rich that can buy whatever they want in the blink of an eye. It’s the people that may not have the money to get a new house or rent. What about those people that are really going to struggle? Those are the ones that helped.❤🙏🏻
All American town? What is he smoking? Just like you see in the movie? These people are so out of touch with the rest of Americans.
FR FR!! I was thinking the same exact thing, like, do they even hear themselves? It’s freakin’ WILD how greedy and narcissistic they are 🤦♀️
Josh is ABSOLUTELY CORRECT!!! Compared to Brentwood, Beverly Hills, and Bel-Air IT IS ALL AMERICAN!! …….you obviously don’t understand L.A. !! 🤷🏼♂️
@@eddieg6436 Oh we understand perfectly! So many are without homes in NC because of the flooding and everyone has forgotten them. And yes, loosing your home is devastating no matter how big or how small. These folks there will now come to the realization that the entire country is hurting! My heart goes out to all affected by this.
@ There are almost 50 MILLION people in California who pay huge TAXES. Just like Florida, New York, Illinois, and Texas, CALIFORNIA is a “Parent” of the U.S.’s smaller inhabited states (Montana BARELY has a million people!!). …….in a nutshell, Californians (and those few other mentioned large population states) PAY FOR EVERYTHING.
@@eddieg6436 it depends on what you consider “All American” too 🤷♀️. My definition of All American is quite different than yours, I know that. I certainly don’t understand L.A., and truthfully, I’m glad I don’t. It’s not a place I consider worthy of understanding as far as the people and culturally speaking. Now, if you’re talking about the natural beauty of the city and the wildlife animals, that’s different, but L.A. is not a good representation of America in my opinion.
He's stating facts. It's heart breaking so many people lost everything. Voting has consequences.
Nobody is talking about healing the land. "Rebuild. Rebuild. Rebuild" is all we hear. It's all about greed. Mother Earth is pissed.
Red Tape is so subjective, should you allow someone to build a house above another house on unstable dirt?
This stuff is crazy.
I think this land forgot 1 thing there's also the option of moving out of state which maybe the best option of all
So no one wants to move to California? Why?
My Empire of Dirt..... Johnny Cash.
Trent Reznor
It took him hours per day on the phone with Insurance to figure out people are going to get screwed?
TMZ is the real news!!!
Reel news.
The people selling didn't really own to begin with, they inherited the home and can't afford to keep it or the dirt.
Why would ANYONE rebuild in an area where they have no fire protection and insurance?
Josh tells it like it is. 👍
This a great interview great oversight. That’s how you answer questions he should give a class to politicians on how to answer questions.
BS. He just wants to sell their empty lots to speculators.
He won't make money if they build back....he wants everything to change hands for commission.
I don’t blame them 🤷🏾♀️ I wouldn’t move back either.
Most of them have second homes
I would not move to California