California's Housing Crisis After the Fires: Rebuild or Collapse?
2025-01-16
Recent wildfires in California have destroyed thousands of homes, exacerbating an already dire housing crisis. Los Angeles and other areas have extremely low vacancy rates, making finding rental properties difficult even at high prices. The fires have also caused insurance premiums to skyrocket, leaving many homeowners facing exorbitant costs or losing coverage altogether. This could lead to widespread foreclosures and homelessness. While the government has taken some steps to speed up rebuilding, experts argue these measures are insufficient. The real solution lies in transforming urban planning, increasing high-density, fire-resistant housing, requiring significant policy changes.