Literally the definition of a fire sale. Despite the fact that maybe they shouldn’t, the people in these areas have to money to rebuild almost immediately, and they absolutely will. A helping factor here is that the new homes will be built to current code spec, and will likely include improved fire defence measures (concrete siding, metal roofing, etc; a lot of the houses that went up still had wood shingle roofs that have been outlawed in CA for some time).
You underestimate how much open, undeveloped space there is in CA.
There’s a bit more now.
Literally the definition of a fire sale. Despite the fact that maybe they shouldn’t, the people in these areas have to money to rebuild almost immediately, and they absolutely will. A helping factor here is that the new homes will be built to current code spec, and will likely include improved fire defence measures (concrete siding, metal roofing, etc; a lot of the houses that went up still had wood shingle roofs that have been outlawed in CA for some time).