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California fires and housing
Posted:
Wed Oct 24, 2007 8:29 amby gills
With the number of homes burning in the southern California fires, I had to take pause and wonder what effect there may be on their local housing market. Speculation is welcome, but data points for the effect on housing from other natural disasters would be even better.
Posted:
Wed Oct 24, 2007 9:44 amby Alan
I'm guessing that housing supply prices will rise and building company stocks will rise. Rents will likely skyrocket short term. How many people will leave the area and never return?
Posted:
Wed Oct 24, 2007 10:07 amby mike2
Temporary increase in rental demand, but it's unlikely these people will qualify for another mortgage when the equity in their primary residence literally went up in smoke.
Different natural disaster, but do you remember those 6 townhomes on Lakeview Drive just below St Marks cathedral?
Even after the foundations got washed out and they were uninhabitable, the owners were still paying the mortgage on them for years. Turns out that because of the slide the land was basically worthless as well.
Posted:
Thu Oct 25, 2007 7:45 amby finance
Posted:
Thu Oct 25, 2007 7:55 amby rose-colored-coolaid
Posted:
Thu Oct 25, 2007 11:12 amby Lake Hills Renter
Posted:
Thu Oct 25, 2007 11:46 amby biliruben
Posted:
Thu Oct 25, 2007 11:49 amby deejayoh
Don't for a minute think insurance is a sure thing
Posted:
Thu Oct 25, 2007 12:56 pmby SunTzu
Re: Don't for a minute think insurance is a sure thing
Posted:
Thu Oct 25, 2007 1:27 pmby uwp
Posted:
Thu Oct 25, 2007 2:56 pmby mike2