After making a shocking prediction that up to 70% of Palisades Palisades will not return to rebuild and live in their homes, the former “Milion Dollar Missing” real estate agent, Josh Altman is explaining exactly why.
“They will not return because they do not want to return. Of course they want to get back there – they won’t go back because it’s a simple math, “Altman told Fox Business Live on Friday.
“I don’t believe they will be able to withstand reconstruction with most people who are very subsidized, with construction costs, timber, steel. We’re talking for $ 1000 [per] Building feet in Palisades and Malibu. ”
Southern California has been facing a wave of fires since January. 7.
Over 50,000 hectares have been burned, 28 people have been killed and over 16,000 houses and the buildings were completely lost.
President Donald Trump announced a national emergency on Friday after visiting the destruction in Los Angeles with residents who were personally influenced by the catastrophic event.
According to Accuweather and JPMORgan, according to Accuweather and JPMORGAN, early estimates set total financial loss of fires in $ 50 billion.
Until the fires, some insurance companies either left, stopped writing new policies or reduced coverage to the Golden State.
“And this is at the top of getting a construction team to appear on your site when there are 16,000 structures that are burned between houses, schools, trading spaces. It’s a disaster,” Altman added.
“That’s how I’m saying, I don’t know they will do it with the security.”
Newsom signed a package of aid where the state will spend $ 2.5 billion to help recover fires.
But Altman wants Newsom to take his response a step further by removing the bureaucratic obstacles that make the construction of homes in California in time and costly.
“The recipe of success will be the shortening of bureaucracy. Building a house, the process in California, which has just wrapped in bureaucracy, is absolutely impossible: a year to get permission; You have the coast commission, which can last another two years. It is time for the governor to start shortening bureaucracy. We have to move forward as a team, ”he said.
“There have been many orders and many things at the state and local level to go. The residence tax, this was the worst tax ever approved, ”Altman continued.
“Get rid of all the people who lost their homes. Order of wildlife, get rid of. Start trimming the red bar. So we will go back to life [a] Los Angeles strong. ”
The real estate expert, who spoke before the president’s visit, hoped that Trump, seeing the destruction with his eyes, would lead to more federal help and help.
“You have to see it. I walked to Palisades, I walked to Malibu. It’s much worse personally than you could ever imagine. Hopefully this will open funds at the federal level. “
Critical fire conditions faded throughout the region, Friday, with isolated rain pockets expected over the weekend.
The useful rain will peak on the Sunday cover, but can cause clay slide in the burnt areas.
Stepheny Price of Fox News and Chris Oberholtz of Fox Weather contributed to this report.
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