Devastating Fires Leave L.A. Scrambling for Housing: “Get Me to Newport!”
As two giant fires swept through Los Angeles, thousands of residents took to finding a home to sleep in. It was like the whole city was in some kind of real estate speed-dating round, everyone hurrying to find their next home.
“Dirt Bikes, Hollywood Writers, and Chaos in the Palisades”
Top luxury realtor Dylan Eckhardt, who counts Justin Bieber and Rihanna among his clients, has received 36 calls in the past 18 hours alone. “It’s utter chaos in the Palisades,” Eckhardt says. “People are riding dirt bikes, trying to rescue friends and animals. Driving through Malibu feels like you’re in the middle of Armageddon.”
“I’m Not Staying Here — Get Me to Newport!”
It’s not just burned-down homes residents are fleeing, but the idea of living in Malibu and Pacific Palisades altogether. Many now want properties in Orange County, far away from the fire zones. Eckhardt-who is waiving his hefty commission for fire victims-is scrambling to meet the overwhelming demand for rentals and sales. But he stipulates that, especially with Malibu’s notoriously slow permitting process, it may take years to rebuild homes lost to the fire. “Before the fire, getting a permit took 18 months for something simple. Now, it could take five to twelve years,” he says.
“Shock, Despair, and the Hunt for Shelter”
One Westside realtor, who wished to remain anonymous, says that clients are freaking out. “Tuesday, they took whatever they could. Wednesday, they went into shock. And now they’re manically looking for housing.” Perhaps surprisingly, even the richest of rich are passing on large homes and requesting condos or apartments, itching to flee fire-prone areas.
“Hollywood A-Listers Aren’t Immune”
The fires have marked a trail of destruction, affecting not just ordinary Angelenos but the royalty of Hollywood as well. Celebrities such as Anthony Hopkins, Paris Hilton, and Mel Gibson reportedly lost homes. For his part, Eckhardt has watched as more than $63 million of exclusive listings went up in flames-and fears the number could rise.
“Don’t Post Your House Online, You Idiot!”
Looting has become a major problem in the evacuation zones. Eckhardt has been frantically calling his high-profile clients to warn them against broadcasting their whereabouts on social media. “I’m calling NBA players, celebrities, and telling them, ‘Don’t post that you evacuated! You just told the world your house is empty with all your MVP trophies and World Series rings sitting there!’ It’s like The Bling Ring all over again.”
A Grim Reality
And the prospects for those who do find temporary housing are no better. For the homeowners who lost everything, the reality of never having their homes insured again is very real. “Nobody’s going to insure a $15 million house in Malibu anymore,” Eckhardt warns.
Meanwhile, some rental properties in safe areas are being shown for as much as $45,000 a month, and demand is skyrocketing. “We’ve got to start relocating people and helping them rebuild their lives,” Eckhardt says. “The pain and sorrow will come, but right now, we’ve just got to keep moving forward.”
It would appear that Los Angeles isn’t just fighting fires but is also confronting a new kind of chaos in its real estate market-one where desperation and resilience are the new order of things.
Source: Variety
