many retirees will take this opportunity to move somewhere. The result will be a lot of affordable new homes (build to replace the lost homes). However, would you buy in an area that has a second major fire in 4 years?
We are still too early to be able to tell what is the extent of the damage. If the damage is in the range of several thousand homes then I think it will bring in a lot of contruction businesses with insurance and federal/state aid money.
“If this is as bad as I think it is, this will save the SD housing market for the next year or two….lots of buyers with money about to enter the market”
Uh, how do you figure that? If anything, this will hasten the decline because the real values will be assessed by the insurance companies and they aint going to use 2005 comps I’m pretty sure.
Let’s not get ahead of ourselves. The outcome of these fires and their impact on housing will depend on things that have likely not yet happened.
“If this is as bad as I think it is, this will save the SD housing market for the next year or two….lots of buyers with money about to enter the market”
Uh, how do you figure that? If anything, this will hasten the decline because the real values will be assessed by the insurance companies and they aint going to use 2005 comps I’m pretty sure.
Let’s not get ahead of ourselves. The outcome of these fires and their impact on housing will depend on things that have likely not yet happened.
