Keep in mind that we are in the middle of LA's rainy season now. Flooding and mudslides can be just around the corner. 
Los Angeles wildfires
- Thread starter Bazza
- Start date
And the burning of the brush / trees won't help - IF they get rain.Keep in mind that we are in the middle of LA's rainy season now. Flooding and mudslides can be just around the corner.
You’re right, and then some. It’s likely going to get a lot uglier long-term for California, not just for the rainy season. We expect insurers and lenders to reduce their exposure to California ASAP, accelerating flight from California by those not wealthy enough to self-insure their homes or purchase/rebuild them without mortgages…Keep in mind that we are in the middle of LA's rainy season now. Flooding and mudslides can be just around the corner.
Why would anyone live in California? Earthquakes, fires, mudslides, expensive, etc. Just sounds awful.Keep in mind that we are in the middle of LA's rainy season now. Flooding and mudslides can be just around the corner.
There’s no perfect place on this earth. People have different preferences. California’s issues are to an extent part of its environment, exacerbated or ameliorated (in California’s case, not much of the latter) by human decisions. Not much different from hurricane strike zones such as where I now live. I was a SoCal resident from 1989 to 1995. All things being equal - and of course, not all things are - it’s still my favorite place on earth…
Edit to correct typo, after failing to resist OCD...
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I can't find it now but I read something earlier that said that a large percentage of homeowners in the Palisades didn't have homeowner's insurance and therefore likely couldn't rebuild. Even if they meant coverage for fires (which I assume is optional in an area like CA) I cannot imagine having a multi-million dollar home in southern CA not protected against fire...
I have spent a LOT of time over the years in LA and while I have friends who adore it, you couldn't pay me to live there. And that's before we start talking about natural disasters and cost.
The costs are prohibitive for many. Everything else is so expensive they have to cut something to make it work. I put a new roof on my house in FL. It’s a really nice metal roof and dropped wind coverage. I live in the middle of the state and don’t have large trees close to my house. I decided to just risk it and self insure the roof. It’s saving me about $4,000 a year.
My daughter lives in the Bay area and is constantly hounding me to move out to be closer to her. In fact, she proselytizing the whole family. Citing all of the reasons not to live there, she's persuaded one yet...
63% containment for Palisades and 89% for Eaton/Altadena....
www.fire.ca.gov
Incidents | CAL FIRE
Ongoing emergency responses in California, including all 10+ acre wildfires.
www.fire.ca.gov
Last year, Francis Bischetti said he learned that the annual cost of the homeowners policy he buys from Farmers Insurance for his Pacific Palisades home was going to soar from $4,500 to $18,000  an amount he could not possibly afford.
Neither could he get onto the California FAIR Plan, which provides fewer benefits, because he said he would have to cut down 10 trees around his roof line to lower the fire risk  something else the 55-year-old personal assistant found too costly to manage.
So he decided he would do what’s called “going bare† not buying any coverage on his home in the community’s El Medio neighborhood. He figured if he watered his property year round, that might be protection enough given its location south of Sunset Boulevard.
www.latimes.com
"going bare" the same as "self-insured" I guess.
The insurance aspect in this disaster is going to be quite an issue going forward!
Neither could he get onto the California FAIR Plan, which provides fewer benefits, because he said he would have to cut down 10 trees around his roof line to lower the fire risk  something else the 55-year-old personal assistant found too costly to manage.
So he decided he would do what’s called “going bare† not buying any coverage on his home in the community’s El Medio neighborhood. He figured if he watered his property year round, that might be protection enough given its location south of Sunset Boulevard.
First, they lost their home insurance. Then, L.A. fires consumed their homes
Before the devastating fires burned across Los Angeles, many homeowners learned they were losing their insurance policies. Some faced big increases in premiums that they couldn't afford.
www.latimes.com
"going bare" the same as "self-insured" I guess.
The insurance aspect in this disaster is going to be quite an issue going forward!
If he has a mortgage, he is likely in default on his loan for failing to insure his property.
The forthcoming premiums increases will kickstart mortgage defaults simply due to the insurance gap. FIs and their regulators will not allow their capital to be exposed uninsured.
Major problems are coming down the line.
The forthcoming premiums increases will kickstart mortgage defaults simply due to the insurance gap. FIs and their regulators will not allow their capital to be exposed uninsured.
Major problems are coming down the line.
Last year, Francis Bischetti said he learned that the annual cost of the homeowners policy he buys from Farmers Insurance for his Pacific Palisades home was going to soar from $4,500 to $18,000  an amount he could not possibly afford.
Neither could he get onto the California FAIR Plan, which provides fewer benefits, because he said he would have to cut down 10 trees around his roof line to lower the fire risk  something else the 55-year-old personal assistant found too costly to manage.
So he decided he would do what’s called “going bare† not buying any coverage on his home in the community’s El Medio neighborhood. He figured if he watered his property year round, that might be protection enough given its location south of Sunset Boulevard.
First, they lost their home insurance. Then, L.A. fires consumed their homes
Before the devastating fires burned across Los Angeles, many homeowners learned they were losing their insurance policies. Some faced big increases in premiums that they couldn't afford.
"going bare" the same as "self-insured" I guess.
The insurance aspect in this disaster is going to be quite an issue going forward!
While 18k sure sounds like a lot of money, I scanned through the article and dont see anything stating what his cost to rebuild would be. Without that there is no way to determine if 18k is excessive or not.
According to Redfin, the median sale price of a home in Pacific Palisades was $3.1M last month, down 7.3% since last year. The median sale price per square foot in Pacific Palisades is $1.19K, up 2.1% since last year. Scanning the listings it looks like you're paying a minimum of $750k for about 1,000 sq ft (1BR, 1bath). From what I've read this man's house was a 3BR home, so while modest, probably worth seven figures.
$18k/year isn't much if the home was even slightly below average value.
I’m trying to figure out how a blue state so full of humanitarians is even having any of these problems. After all, the leftist mantra is to tax the rich, and you have more rich in California than just about anywhere - and yet they managed to run a deficit of $55 billion. They’re one of the most environmentally friendly states, but they have been having wildfires as long as I can remember, long before global warming was even a common word in American speech. They have some of the strongest gun control in the USA and yet not too awful long ago they had six mass shootings in less than two weeks. On top of which they are apparently the most racist state in the country since there is actually a proposal right now to secede from the union!
www.independent.co.uk
I mean, this was racist when it was Texas and everyone else but I’m sure this is supposed to be some sort of free thinking liberalism now. Besides, I’m pretty sure there was a war fought in part over whether a section of the country had a right to leave if they wanted to leave.
Now, I mostly just playing a Stephen Colbert caricature type right here, lighten up.
Except for the fact, I’m old enough to remember just four years ago when a bunch of liberals wanted to advise Texas on their electrical grid and mock the state for not preparing for a once in every 40 years cold front. OK, fair enough. I’m willing to listen to that criticism and maybe should the state.
Except for the fact that if you’re gonna lecture folks about something that happens every 40 years, you damn sure oughta be able to take care of something that happens almost every year in your blue state.
Having said that, I am glad that the lesbian fire chief and the lesbian firefighters that I was told it was a good thing they were on the job have managed to contain the fires and lift the heavy men off their couches.
And for the record, any United States president that threatens to withhold aid from one of our 50 states because he’s a political nincompoop quite frankly needs to be removed and replaced with somebody who will represent even the states that did not vote for him or her. I sure don’t recall George W. Bush demanding voter ID as a condition of helping New York City when 9/11 happened.
California secession proponents get green light to take next steps toward ‘Calexit’
“People think if you’re a secessionist, you’re crazy,” Calexit leader Marcus Ruiz Evans told The Independent
www.independent.co.uk
I mean, this was racist when it was Texas and everyone else but I’m sure this is supposed to be some sort of free thinking liberalism now. Besides, I’m pretty sure there was a war fought in part over whether a section of the country had a right to leave if they wanted to leave.
Now, I mostly just playing a Stephen Colbert caricature type right here, lighten up.
Except for the fact, I’m old enough to remember just four years ago when a bunch of liberals wanted to advise Texas on their electrical grid and mock the state for not preparing for a once in every 40 years cold front. OK, fair enough. I’m willing to listen to that criticism and maybe should the state.
Except for the fact that if you’re gonna lecture folks about something that happens every 40 years, you damn sure oughta be able to take care of something that happens almost every year in your blue state.
Having said that, I am glad that the lesbian fire chief and the lesbian firefighters that I was told it was a good thing they were on the job have managed to contain the fires and lift the heavy men off their couches.
And for the record, any United States president that threatens to withhold aid from one of our 50 states because he’s a political nincompoop quite frankly needs to be removed and replaced with somebody who will represent even the states that did not vote for him or her. I sure don’t recall George W. Bush demanding voter ID as a condition of helping New York City when 9/11 happened.
Did a Private Equity Fire Truck Roll-Up Worsen the L.A. Fires?
During the LA fires, dozens of fire trucks sat in the boneyard, waiting for repairs the city couldn't afford. Why? A private equity roll-up made replacing and repairing those trucks much pricier.
www.thebignewsletter.com
Did a Private Equity Fire Truck Roll-Up Worsen the L.A. Fires?
During the LA fires, dozens of fire trucks sat in the boneyard, waiting for repairs the city couldn't afford. Why? A private equity roll-up made replacing and repairing those trucks much pricier.
What I’ll show you in this piece is that the increasing price is a result of a private equity firm, American Industrial Partners, consolidating the fire truck industry and forcing up prices across the board. For decades before the 2010s, the fire apparatus industry was characterized by relatively stable (inflation-adjusted) prices and ample production capacity.
Then, however, AIP bought multiple fire-truck manufacturers and rolled them up into conglomerate called the REV Group. Although AIP initially made a show of allowing these manufacturers and their distributors to continue operating independently, under the surface it quickly moved to operate them as a single firm, like a food conglomerate selling a bunch of different brands that all appear to be different companies. As one industry executive has observed, “There are now times when all vendors at a bid table, each with a ‘different’ product, are all owned and managed by the same parent company. How is that competitive for the purchaser?†The answer, of course, is that it isn’t. And you don’t need to take my word for it. REV Fire Group Vice President of Sales Mike Virnig made it clear in 2020: “What I won’t tolerate is negative selling,†he said. “I won’t tolerate it with our competitors, and I won’t tolerate it within the group. If I even get a hint or see anything like a dealer taking a shot at another dealer, we step in and say, ‘Stop it.’â€Â
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