Prospects for owners of burned LA homes to rebuild

Scott Adams took a look at what's likely to face burned-out residents of Los Angeles who wanna rebuild.  I've edited his checklist below.

Adams examined the prospects of rebuilding for the 11,000 LA families whose homes have been burned to the ground so far...NOT by the stupidity of the incompetent governor, mayor, fire chief, head of DPW and other officials, but by...wait for it..."climate change."  His conclusions:

1. Even in normal times, it takes years to get a building permit approved in LA.  With thousands of new permits in the in-box, that could push approval to many years.

2. All new homes will be taxed at the new-home rate.  First, if you were living in a 1960's home the new one will be valued a LOT higher than the one you had...so your property tax will easily double.  Maybe more.

3. If you're in your 40's and can do some of the work yourself, you may be able to rebuild for, say, $400,000.  But the county assessor will still value your property at market value, no matter what you paid to rebuild.  So again, property taxes will skyrocket.  Unless you're an attorney or a Hollywood star many will be hard-pressed to afford those much higher taxes.

4. After the morons in the state government refused to allow insurance companies to raise their rates to match their assessment of the fire risk, the companies responded by saying they wouldn't renew policies for fire losses.  Newsom (or his lackeys) then ORDERED the companies *not to cancel any policies.*
   With that history, how many companies would be willing to re-enter a market where the rulers have shown themselves willing to ignore reality?  And if no fire insurance is available, how many mortage companies would be willing to give you a mortgage to repay your construction loan?
   It's unlikely that any company will offer fire insurance coverage in Los Angeles at any price as long as Democrats control state government, since the Democrats have demonstrated they're willing to BAR companies from raising rates, and from refusing to renew policies when they expire per contract.

It will take ordinary "un-connected" citizens YEARS to get permits to rebuild even if they used the same blueprints from the home they were living in before.  But you can bet that if Blackrock wanted to buy most of Pacific Palisades, that trillion-dollar company would get any building permit needed, to build whatever they wanted, so fast it'd make your head spin.

Now here's hoot #1:  How much do ya think LA county's tax revenue will drop after 11,000 homes were destroyed (so far), at an average price of, say, a million apiece?  That's $11 BILLION.  If the county charges an average of two percent in ad-valorem tax, that's a tax loss of $220 million a year.  Wow, that'd buy a lot of fire trucks, eh?

Hoot #2:  What do ya think a prime ocean-view lot sold for before the fire?  Even after the fire, the county will still charge owners the property tax on the pre-fire value of their lot.