2007-10-23 06:42:32 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Well I think some constuction workers who thought they might be looking at no work in the future just found work. That's a whole lotta homes to burn in 3 days.
It may have been a blessing in disuise for many owners. They will cut a big check........ my parents home burned down and it was built bigger and better....paid off all their debts....bought them new stuff and cars...etc. But $ cant replace pictures, movies, heirlooms etc. They wound up with a bigger nicer house for the same loan amount they had when it burned. With the housing market as is and construction slowing......they may have some good opportunity from it. Some may get some really crappy loans paid off and be able to do a new better loan...build more for less.
Still very sad and devistating.
Insurance stocks will dip.....already happening.
California is a beautiful place to live....mountains, forests, desert, sandy beaches, awesome weather 90% of the time....all within a nice drive. Nothing comes without risk.
It is costly to live here, no doubt. But for those that work hard to do it, there's no other place like it.
Our thoughts with those affected and those that may be renters that walk away with little to nothing to start over again.
OBA™
2007-10-23 07:33:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Some of these people were bailed out since they will take the money and run.
Some will move and most will re-build.
Expect fire insurance rates to go ballistic, even though the threat of fire for the next 5 years will be extremely low since all the fuel has been burned up.
P.S. The smart ones will move to Arizona.
No hurricanes, fires, floods, earthquakes, etc.
Maybe that's why we have the fastest growing population in the country.
Terry S.
http://www.Welcome2Arizona.com
2007-10-23 08:50:06 · answer #2 · answered by Terry S 5 · 0⤊ 0⤋
The houses still standing in San Diego county will sell pretty quickly. Not only did the competition burn up, there are working class people needing another home.
Some people will be relieved, the insurance company just paid for their house.
2007-10-23 06:50:54 · answer #3 · answered by Landlord 7 · 1⤊ 0⤋
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2007-10-24 03:02:51 · answer #4 · answered by Anonymous · 0⤊ 1⤋
There will be less homes on the market, or possibly on the market.
2007-10-23 09:29:30 · answer #5 · answered by Pengy 7 · 0⤊ 0⤋
I personally think the issue is insurance coverage, but the values of homes may decrease because of it....insurance though ^^^^up.
2007-10-23 06:46:45 · answer #6 · answered by ? 2 · 0⤊ 0⤋