How Have the California Wildfires Impacted The Local Real Estate Market?

With over 4 million acres burned, this year’s California wildfires have been the largest the state has ever seen. One fire alone, the August Complex, has burned over 1 million acres, cutting a destructive swath across the northern part of the state. The California fires are in various stages of containment, so these numbers could go up before year’s end.

California also happens to have some of the most expensive real estate in the country and many of the country’s most active real estate markets. Many areas currently battling fires have been threatened by wildfires before.

CoreLogic‘s (NYSE: CLGX) 2020 Wildfire Risk Report shows 1,975,116 homes in the United States are at risk of being destroyed by wildfires. These homes carry an associated reconstruction cost of over $638 billion. Of the areas most at risk, 76% of them are located in California, with the Los Angeles, Riverside, San Diego,

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How Covid has impacted Asian American multigenerational homes

Chelsey Gao’s grandmother is 84, has myriad health issues, speaks no English and has not left home at all since the pandemic revved up.

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Mother and daughter, then, are the designated emissaries to the outside world. Gao, 23, headed to Ohio in January for a new job as a data analyst, and had big plans to travel internationally with friends on her “new adult income.” But after the coronavirus tightened its grip on the U.S., she moved back home to live with her mother and octogenarian grandmother in the Atlanta suburbs.

“I just figured it would be a lot easier to be able to be back home with a support system,” Gao said. “Being isolated was not an ideal situation.”

Her 53-year-old mother, who was born and raised in China, received unemployment after being furloughed in March. That cushioned the blow, but she still worried:

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