I live smack dab in the middle of RB. While the number of homes burned isn’t very significant in the county overall, it is very significant where I am and where I would like to buy someday.
My assumption: Many won’t wait to rebuild-they will purchase another house now, rebuild, and then sell the rebuilt house. Or, they will pay off the mortgage and sell the lot. I think an empty lot in the middle of RB where you can custom build your house is more appealing than some think.
So, my assumption is that this provides support for prices in the near term, with a possibly depressing impact as the rebuilt houses come back online. My rental contract is up in March, and I am likely screwed on that front as well since competition just increased 5-fold.
