What a bunch of ignorant dumba$$es. Fires make So. Cal RE less valuable? News flash there have been fires of this type in So. Cal for all of known human history. There is lots to deflate the sky high prices in So. Cal. Santa Ana winds and fire aren’t one of them. If anything, the influx of insurance money followed by a mini re-building boom will put a significant fraction of out of work construction workers back to work and be mildly stimulative. Check out what RE prices for the unaffected area of New Orleans did after Katrina. They almost doubled. That won’t happen here but this event, as devastating for SOME as it is, wont’ affect the RE market much one way or another. If anything it may bolster it slightly.
