Impact of California Fires on Housing Market

The recent devastating fires in California have raised significant concerns about their effects on the housing market and economy. The fires have resulted in a tragic loss of homes and communities, prompting discussions about the recovery process and its influence on housing inventory and prices. While there is an urgent push to rebuild, many believe that the recovery will be slow, particularly in areas like Pacific Palisades, where custom homes dominate. Additionally, the destruction has sparked a temporary spike in demand for rentals and housing, where displaced families are driving up prices significantly.