Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.
The scope of wildfires ravaging Los Angeles ballooned into the inconceivable by Thursday, as a fifth fire sparked in the Hollywood Hills the morning after the largest fires, the Palisades and Eaton fires, had destroyed at least 2,000 structures and left five dead.
Most of LA County remains under a red flag warning until Friday, meaning that the Santa Ana winds that have stoked fires over the last few days could continue to create challenges for firefighters.
The economic toll that the fires would take in terms of property damage, hits to the film and TV industry, and more could reach up to $57 billion, according to an estimate from weather forecaster AccuWeather. On Wednesday, CoreLogic estimated that over 456,000 homes with nearly $300 billion in reconstruction cost value were at a moderate to great risk of sustaining fire damage within LA and Riverside metro areas.
Agents pitch in
As some displaced residents began to pivot from active evacuation mode to find new housing mode, agents shifted into overdrive, reaching out to their networks to find housing options for those in need.
“Starting yesterday, my phone has been ringing non-stop with people looking for [housing] options,” Josh Altman of The Altman Brothers at Douglas Elliman told Inman.
“This is obviously the worst that anybody could imagine, as far as the destruction, as far as people losing their homes, as far as people being relocated.”
