The top real estate executive warned that California is facing an unprecedented “triple threat” along with the rise in housing prices, interest rates, and insurance premiums, as California starts an important reconstruction stage after Los Angeles fires.
Over the past few years, California has been hit by a growing crisis due to its major airlines from states.
According to Verisk, a global data analysis company, the crisis is expected to worsen only after a devastating fire that hit Los Angeles County County caused at least $ 28 billion.
“Many of our economic problems are in pandemics, especially in pandemics, and then increasing at an unprecedented speed, especially in pandemics, and now the interest rates are rising. Track the housing price. Glen Kermann, the highest executive officer of Redfin, told Fortune。
“This is a little threat we have never seen before,” he added.
He is worried that more insurance companies, especially the state politicians and government agencies, are blamed for their incapacitated flames, so that more insurance companies will push them to escape from California.
“Sometimes I hope it is not so political,” said a real estate boss. “I heard that the fire department was blamed or the California was being blamed, and said,” How do you dare? You talked to someone who has experienced what they are actually experiencing. How do you feel like that? “
According to Kelman, the California's insurance crisis can worsen before it gets better, but the damage caused by fire is more likely to worsen.
“California was a place that had just completed Nimbeeism,” Kelman told Fortune and mentioned the crowd in the state of the state, “Non -My Buckard,” which opposed a new project in the neighborhood.
In addition to strict regulations, land use policy, wide environmental reviews, land shortage, strong nearby opposition, he said that the major housing developers escaped the blue nation.
Wood Partners, one of the largest real estate developers in Japan, said that he would no longer pursue projects in California last year. The company states that it will not provide reasons for withdrawal.
However, the tide must change after an unable to control the estimated $ 150 billion damage throughout the Los Angeles County County.
California Governor Gavin Newsham and Mayor La Mayor Karen Bus promised to cut a deficit around the rebuilding.
For example, New Sam Stop permit requirements California Coastal Law (California Environmental Quality Law is implemented to implement strict protection measures for coastal land projects and accelerate building efforts.
“I think they were looking for the opportunity, and the fire gave them it,” said Kermann.
“I've been a long -standing Immy, so of course I support all of this,” he said, and he calls himself a “yes” type.
He said President Trump hoped to help California during the construction boom.
“We have selected the president who used to be a real estate developer,” said Kermann. “He has become the best real estate developer.”
However, it is exactly unknown how many houses have been lost due to the LA fire, Approximately 48,000 acres land The other side of the county was burned by a paricade, Eaton and fuse fire.
“I have to make a hole in my head as a builder so as not to return to California at this point,” said Kermann. “You have a very friendly government … and there is a whole neighborhood that needs to be rebuilt.”
He warned that some of the neighborhood in California could lose its appeal through this rebuilding effort.
“I think they will be built for more density. It's exactly what society needs, but I never see the way before the fire occurs,” he said.
