The Carr Fire Northern California

[Paul Fagot]

Hello BP, we have a devastating fire happening in my home town here in Northern California. Some of you may have seen it on the news or social media but this fire is awful taking lives and people's property. 500 structures destroyed and close to 5000 threatened.  It's reached 80,000 acres and at 5% contained and growing. But our fire fighters are working so hard to get this thing contained. Thank you Firefighters! 

But my question is because I'm curious, what does something like this do to the housing market to a city after the fire is put out? 

[Rylan Macallister]

following.  Also live in Redding and looking to invest.  

[Brad Carrier]

I would think it's going to create some opportunities for investors. It's sad but some people are going to lose out and have to leave for various reasons. 

[Paul Fagot]

@Rylan Macallister @Brad Carrier there's a huge shortage on housing right now. People are doubleing their rental prices it's so messed up and crazy. Saw today a 1 bedroom 1 bath for 1600.. mind blowing. But I think that investing and developing new buildings and subdivisions here is gonna be huge. 

[Jay Hinrichs]

Originally posted by @Paul Fagot:

@Rylan Macallister @Brad Carrier there's a huge shortage on housing right now. People are doubleing their rental prices it's so messed up and crazy. Saw today a 1 bedroom 1 bath for 1600.. mind blowing. But I think that investing and developing new buildings and subdivisions here is gonna be huge. 

they can do this because insurance will pay for those that are burned out..  think what happened in Sonoma and Napa last year

Lake co 3 years ago and  Lake county today..  by the way my brother is on a dozer on the Carr fire right now..  

[Michael Norris]

A lot of mud slides and flooding comes in the years after fires burn the cover off the mountain sides so check with your agent to make sure you have the proper coverage.

[Christine Kankowski]

Short term:   There will be lots of displaced people who need to stay local for jobs, etc so the rental market will be super tight.  Lots of insurance companies will be paying for the rents. 

Long term: there will be people who choose not to rebuild if their home burned down, so there may be some land available in residential neighborhoods that would be easy to build on. 

[Account Closed]

The demand for Real Estate in Napa and Sonoma is still incredible. With 5,300 homes burnt, and a lot not rebuilding, it makes it almost impossible for rents not to go up.