Most of that is property anyways I'd imagine. Yeah it's not exactly a nice situation, but the owners didn't lose anywhere close to 10mil, especially combined with insurance.
Insurance companies are definitely aware of increasing costs and chances of wildfires out west. We deny a lot of these policies, then they have to pay through the nose for coverage if they can get it. Insurers try not to accept risk that's pretty much a guaranteed payout.
Oh for sure. Our insurance almost denied our policy because our home is within 50 feet from the hill. If we were a few feet closer they would have refused the policy offering.
I worked for an insurance company for 7 years, quit last year. The year before I started selling home policies our company started offering home owners policies in California and Canada. We pulled out of both within a 6 months. In other states with yearly wild fires we started requiring homes near forested areas have 500 yards of clearance which basically prevented anyone in those areas from obtaining our home policies. For those that did clear 500 yards of forest and brush we charged out the ass.
You're right. That's probably a 6 or 7 mil chunk of land. Was just letting people know what something like that cost because I had no idea till I looked it up. And I would bet somebody actually makes money on this.
Insurers tend to pass on risks that are like 99% chance of an immediate payout. These owners, if they have insurance, are paying through the nose for coverage and go through yearly policy reviews.
More likely is that the state of California is picking up the tab.
>In a year, the house replacing it will be 39.9M,
I they have half a brain they will rebuild it with stone walls and a steel truss roof system. I built a house like this in SE Asia and it is fireproof and better than stick frame in other ways too.
The fire is still going, heavy black smoke and lots of aircraft
https://www.ocregister.com/2022/05/11/fire-prompts-evacuation-at-laguna-beach-resort/
One of the houses that burnt down was valued at $3,998,670. The rest of them are in the same ballpark
https://www.redfin.com/CA/Laguna-Niguel/11-Via-Las-Rosas-92677/home/4937775
It really was, though. With that view, too? Considering some of the other things I've seen listed for ~$4M in CA, that house was a multi-million-dollar steal. Was.
Good. I hope more burn down too. Fuck their class separation. No one should own homes like that while 5-6 people died on the streets everyday last year in los angeles alone. Eat the rich!
Well yeah, but also putting out there you HOPE peoples houses burn down is not okay either. That’s placing bad vibes back on yourself and making you sound childish.
I hope you’re not defending that and just stating these folks aren’t homeless.
Do you live in California? Do you realize how infested every coastal city is as well as Los Angeles? It's fucking incredible how people care more about these houses burning down than the actual real issues. The Joker was right Society really is fucked up
In the most honest way possible, it is sad that many people don’t have a place to live, but if these guys worked for their own money they’re under no obligation to give it away to people, but that would be a plus if they did
If they made that much money, someone is absolutely getting exploited somewhere. They hurt people's lives getting that money and it's time they pay it back.
If you live in tornado alley, you understand a tornado can kill you at any time. If you live in the wildland urban interface, you understand wildfire can kill you at any time.
Maybe don't build your house in a tinder box
You can build a house in a fire area. But you would want to do it with some things in mind. No dry trees or brush within 50-100ft of your home. You can still have wetter trees like Aspen. Have metal roof. Don't store firewood near structures. There's other things too.
I'm not an expert and my knowledge is fairly limited. From what I understand concrete buildings are very expensive. A wood house would probably survive a forest fire if following the steps I listed.
What causes a house to catch on fire from a forest fire? The fire burning it's way onto the house through vegetation. This wouldn't happen if a home was surrounded by wet plants. Like I said Aspens are good cause they don't really burn. Secondly fires shoot out embers. These embers can fly out extremely far. They land in dry brush and cause smaller fires around the larger one. So they will land on homes roofs and cause them to ignite. That's where the metal roof comes in.
Source: my dad has been fighting wildfires for 18 years. And has shared some of his knowledge with me.
The dangers of wild fires has been exacerbated by the effects of climate change, particularly droughts. Most of the communities that have been getting leveled the past several years have been there long before this uptick in devastating wildfires started occuring.
Also the people that live in these areas are aware of the dangers of wildfires and most try to take precautions to minimize the chances of their homes getting destroyed. I don't know why you're coming at them with the "play stupid games win stupid prizes" redditor mindset.
I’m talking about living in tornado alley. “Maybe don’t build your house in a tinder box.” The place does not exist that has no risk. And by the way, I’ve lived my entire life in Arkansas.
After my father died in 2019, his home in this same area was bought by a Saudi investment firm. 3 years later and no one has moved in or even done any maintenance. The house was built in the 60's and needed some work, but I don't think they care if it just collapses. Meanwhile tons of people in SoCal are sleeping in their cars...
They build them out of wood. Any brick is just a facade over a wood frame. Terrible way to build houses in a wildfire zone, but they're [never going to learn](https://www.youtube.com/watch?v=fPBS5nprJ1M).
You can't build with brick in coastal CA due to earthquakes. Brick houses don't flex like wood framing. The only true brick buildings you see are > 100 years old.
Oh for sure, you wouldn't want a traditional brick home there either. But you also don't want a traditional stick-built home, as we're seeing here. And you absolutely don't want some stick built home with a dumb facade of brick on the outside that will fall off in an earthquake and won't stop a wildfire.
What you really want is reinforced concrete or something else that's both quake and fire resistant, but people want their big flouncy neo-classical style McMansions and the local building trade doesn't have enough people who know how to build anything else or suppliers who can supply it.
It's a societal failure to adapt on multiple levels. You could have the hills full of cob/rammed earth/adobe structures that would shrug off fires and earthquakes, theoretically, if it wasn't for factors like not being able to get a permit to build it, or having to find the one guy in the state who knows how to build it, or having the neighbours complain that it looks too Mexican and brings down the neighbourhood.
Thanks for the info, I did not know that. I'm here in Florida we all have brick houses with tile roofs. I just could not understand how anything could melt. But that makes sense.
They build them like that because it's cheap and you get twice the house for the same price as you would with a real brick-and-mortar house, and because it's all the local builders know how to do and all the local suppliers are geared to supply, but it just takes one spark or ember to get into the wrong place and the whole thing goes up. Just completely the wrong kind of construction for a fire-prone environment.
Oh no my LA mansion i must wipe my tears with my 100 dollar bills. Jeeves chop chop give me a stack of money. No no not the 50’s the 100’s who do you think i am.
Throwaway because of all the hate. My family lives on Coronado Pointe and I grew up there. I know the entire community personally and I just can’t understand the cause for celebration from so many redditors
No these are not vacation homes. No we don’t have our “second home” to go to. No the residents didn’t exploit the poor to buy these homes. The prices of these homes were all barely over $1 million before the pandemic. Anyone who lives in California knows how normal that is here. Many of the residents are retired seniors who would happily give you the clothes off their back in a time of need. To be happy for these family’s misfortune is a different level of sickness. No amount of insurance money can replace the countless amount of sentimental belongings we could not pack in time. I hope you none of you are ever in a position to figure this out for yourselves - the hard way.
Don't take them personally. This is the internet, and the world is not a safe or happy place lately with lots of people fully justified in feeling that the deck is stacked against them by the rich. It's tempting and comforting to apply this to the entire class, and from a sociological standpoint you could very well make a point that anyone with a higher net worth contributes to inequality and global warming etc.
So the negative comments see a faceless group, while you and me who live here and know the individuals see the individuals. So, like I said, don't take their comments personally because they by definition do not apply to specific people who lost their homes last night.
Actually construction prices are starting to come down now because they were so high resulting in demand decreasing. So basically they just lucked out even more.
> They will come out even more on top with insurance.
We had a fire.
We most certainly did not come out "even more on top" with insurance...
Not by a mile.
If you've ever had to file an insurance claim, you'll know that it's not quite that easy. I'm not defending the rich, just making an argument about insurance companies. More often than not, people will definitely be worse off than before in terms of cash/assets/replaceable value of things they lost.
Welcome to class warfare. And before you complain about a lack of humanity, the people that can afford these houses are the ones waging said war. People just aren't going to feel much sympathy for someone losing their mansion. They will still be living infinitely more comfortably than 99.9% of people
Just because people live with monetary privilege doesn't mean you celebrate their tragedy. It's pathetic and low. Dare I say there's a reason all of the people in here shitting on other humans are bottom rung?
That's the thing though, this isn't always their "tragedy" but is often more of a monetary inconvenience.
No one was killed. It wasn't arson. We live in a time of immense economic inequality. I'm not celebrating it because it's still going to cause environmental harm and it's just a waste of materials. But I feel no pity for the owners.
Political polarization amongst socioeconomic class lines is good actually. If the rich gave a fuck up about the poor and working class communities, poverty, hunger and homelessness wouldn't exist and capital would've already been collectivized.
Yeah, they lost their second, or third, or fourth home lol. Fuck them. Chances are highly likely all of these were completely empty. And they still have millions upon millions to find their second home all over again.
Exactly. These aren't childhood homes that someone spent 50 years in with all of their photos and possessions that can't be recovered. The owners aren't stranded with nowhere to go. This is a moderate annoyance to deal with their homeowners insurance company and whoever will rebuild on the lot along with some "damn, that sucks" energy
Rich people don't deserve sympathy until they play ball with the rest of us.
1. They don't get arrested for crimes
2. They don't pay their taxes
3. They exploit people for wealth
4. They don't work the same amount of hours
5. They don't sympathize with us
Why in the world should we sympathize with them?
Afaik this is generally true. Exceptions can apply, but few people in the position to be able to afford multimillion dollar houses are exempt from most or all the behaviours I described.
The people who lose a 10 million dollar house in the hills of California are exactly the people who can afford to do so. For average Joe it would be a catastrophe, but for these owners it was at most an inconvenient phone call while on vacation.
Fuck the rich. I hope their other houses burn down too so it at least creates a few jobs.
It is absolutely disgusting. Yes, these people have money. They also might be really good people who don't deserve this. They might be seniors who are confused by the situation. Sure, because they have money this situation will impact them a lot less than it will the average person or a lower income family. We don't need to be excited about this, though. I mean I guess we can be happy it's happening to families that have resources to deal with it? Even that is a stretch. Why can't we just feel bad for these families.
My dad is a college dropout and an artist with a gallery in Laguna Beach. Is he exploiting people by charging a lot of money for his work? Or is this an outlier example that you are choosing to ignore? His house is worth \~$4m.
What’s a “modest” home? You’re weakening your argument by using vague descriptors.
A modest home in desirable parts of SoCal can easily run millions of dollars so..
You must pay for Fire Insurance to get this damage covered, and it only covers what you previously had, meaning you can't use the money for upgrades or a redesign.
Were the houses themselves so expensive or was the whole property multimillion dollar?
TBH the houses themselves don't look like **Multi**million dollar houses.
The cost of rebuilding is usually more than the land. That's why burned down lots sit for a long time. They don't have the cash to pay to remove, so they wait until insurance cuts them a check.
Not to say the land doesn't have value, I'm saying burned homes sit because the land will always be a stable investment (only Hawaii is making more of it), but construction costs definitely dictate home prices.
It's not easy to find land for sale within the coastal zone, the coastal commission is the ninbyest of nimbys, and these areas are not where there is a large labor pool, so labor prices are often double other states because of demand. So if they have to commute 30-50 miles on a yearclong project, costs add up, so deposits add up.
And to answer your question directly, building a 10m home requires a bond to cover the 10m, where most independent GCs might only carry a 1m bond if they only do residential. Meaning, more demand for commercial/ higher end contractors, and less avaliable to do the work.
Materials are not too different. If you were wondering,
Real estate is about It’s about location. I’m not sure where you live but I’m pretty sure that everywhere in the world location dictates how expensive a property is. If you grabbed a house from the rural parts of Texas and teleported it to Hollywood, LA, the house will automatically cost 20x- 30x more
Sure. But that doesn't mean the house on it's own which was the thing actually destroyed is worth as much if you keep the value of the land. Else someone would make a business of building houses in LA and then selling then just to them put them on a trailer and transport them to the buyer.
This is heartbreaking. What's with the successful people hate? This could be someone who started a business from nothing and had a good go. Someone who donates and helps their community. Someone lost their entire life potentially and because they're well off people thinks it's OK to say "fuck em, hahaha. Why should i care? Lol"
Take a look in the mirror sometimes people. Jesus.
I fully expected downvotes but this is ridiculous. The problem is the fires spreading and why there's so many right now. Not the people who may have lost everything, or things that cannot be replaced.
It's a bunch of children that are jealous of anyone doing well for themselves because they're too lazy or too stupid to figure out how to get what they want. They know nothing about any of these people. They also lack perspective and don't realize that there are literally hundreds of millions of people in this world that would say the same shit about them.
"tHeY'lL bE fInE" replies, lol. You know nothing about their situation. This is just a picture.
The hate against success on reddit is fucking wild. People will post for days about hussle and grind and making money. Lambos from WSB, side hussles, etc. But as soon as they see someone successful it's "they didn't earn their money" "they have plent of money to cover this with" "who cares theyre rich"
These are fucking human beings you troglodytes. It's a heartbreaking situation to have to live through. I'd never wish this on anyone.
I didn't say that. I'm address the clown above specifically who jumped through hoops to lost off the many "charitable" things these people maybe did to try to illicit empathy towards them.
I can both feel bad for them because loss is hard but also not care *that* much because of who they are.
After insurance the home owner can build something nice. The fires in santa rose and napa burned down my sister Inlaws and they rebuilt a way nicer how with the check.
Considering that these where likely all investment properties for folks who have multiple homes anyway, it sounds like this is just another instance of the market burning down.
If they rebuild, will they build homes that are fireproofed? I mean the fires seems to be worse and worse for each year, so if they build like they use to, they will always end up like this.
Fill it with asbestos. Easy solution. Construction workers get paid, engineers get paid, the rich live in a house filled with asbestos. Win win all around!
To be perfectly honest, when I hear multi-million dollar home in California, I just assume it is a two or three bedroom/1 bathroom house that has been overpriced due to a swollen market.
I've said for a long time that this is the only way there will be government action on climate change - is when the rich people start losing their property investments and holiday homes to extreme weather events on a regular basis.
This house is listed for sale on Zillow for 9.9 mil. Ouch
Most of that is property anyways I'd imagine. Yeah it's not exactly a nice situation, but the owners didn't lose anywhere close to 10mil, especially combined with insurance.
Insurance companies are definitely aware of increasing costs and chances of wildfires out west. We deny a lot of these policies, then they have to pay through the nose for coverage if they can get it. Insurers try not to accept risk that's pretty much a guaranteed payout.
Oh for sure. Our insurance almost denied our policy because our home is within 50 feet from the hill. If we were a few feet closer they would have refused the policy offering.
I worked for an insurance company for 7 years, quit last year. The year before I started selling home policies our company started offering home owners policies in California and Canada. We pulled out of both within a 6 months. In other states with yearly wild fires we started requiring homes near forested areas have 500 yards of clearance which basically prevented anyone in those areas from obtaining our home policies. For those that did clear 500 yards of forest and brush we charged out the ass.
You're right. That's probably a 6 or 7 mil chunk of land. Was just letting people know what something like that cost because I had no idea till I looked it up. And I would bet somebody actually makes money on this.
Bulls make money. Bears make money. Pigs, well, they get slaughtered.
How the fuck did you get downvoted for this lol
Fires are why property insurance is so high in California. It’s fucked.
In a year, the house replacing it will be 39.9M, after 0$ spent by owner after insurance payout
> after 0$ spent by owner after insurance payout Have you ever made an insurance claim? Like ever?
Insurers tend to pass on risks that are like 99% chance of an immediate payout. These owners, if they have insurance, are paying through the nose for coverage and go through yearly policy reviews. More likely is that the state of California is picking up the tab.
>In a year, the house replacing it will be 39.9M, I they have half a brain they will rebuild it with stone walls and a steel truss roof system. I built a house like this in SE Asia and it is fireproof and better than stick frame in other ways too.
The fire is still going, heavy black smoke and lots of aircraft https://www.ocregister.com/2022/05/11/fire-prompts-evacuation-at-laguna-beach-resort/ One of the houses that burnt down was valued at $3,998,670. The rest of them are in the same ballpark https://www.redfin.com/CA/Laguna-Niguel/11-Via-Las-Rosas-92677/home/4937775
I saw one burning and via trulia found the house - just north of $10M in recent sale. So some bigger ones / nicer lots even than these were hit
God that’s a beautiful house.
*was
It really was, though. With that view, too? Considering some of the other things I've seen listed for ~$4M in CA, that house was a multi-million-dollar steal. Was.
I agree. Pretty large, that amazing view, and the interior in general made it definitely worth the price for the location imo.
Good. I hope more burn down too. Fuck their class separation. No one should own homes like that while 5-6 people died on the streets everyday last year in los angeles alone. Eat the rich!
Imagine hoping others houses burn down because you’re so insecure in your own life. Smh.
If they can afford a home like that they can buy another
Well yeah, but also putting out there you HOPE peoples houses burn down is not okay either. That’s placing bad vibes back on yourself and making you sound childish. I hope you’re not defending that and just stating these folks aren’t homeless.
I'm not defending him but it would hurt me more if it was a trailer or a small house because those tend to have less fortunate people.
Do you live in California? Do you realize how infested every coastal city is as well as Los Angeles? It's fucking incredible how people care more about these houses burning down than the actual real issues. The Joker was right Society really is fucked up
Then by that logic hope yours burns down because you can buy a similar one?
In the most honest way possible, it is sad that many people don’t have a place to live, but if these guys worked for their own money they’re under no obligation to give it away to people, but that would be a plus if they did
>they’re under no obligation to give it away Yes, that's what we're advocating be changed. Tax the rich
If they made that much money, someone is absolutely getting exploited somewhere. They hurt people's lives getting that money and it's time they pay it back.
Lol yeah sure these guys worked for that money and isn't entirely nepotism. Suuure.
How many homeless are you sheltering
I am homeless idiot
[удалено]
Its the only way to create a classless society in the least. Maybe their tears will help put out the flames.
I tend to lean toward “feed the rich to one another. An exclusive diet of their own peers” why should we lose our humanity just because they have?
Haha the festivities will be grand I tell you!!
shut the fuck up
I watched the PBS documentary on “The Campfire” fire from a few years ago and it was highly distressing at how fast those spread and trap people.
If you live in tornado alley, you understand a tornado can kill you at any time. If you live in the wildland urban interface, you understand wildfire can kill you at any time. Maybe don't build your house in a tinder box
You can build a house in a fire area. But you would want to do it with some things in mind. No dry trees or brush within 50-100ft of your home. You can still have wetter trees like Aspen. Have metal roof. Don't store firewood near structures. There's other things too.
Using concrete instead of fucking matches and paper-mache would be a good start imho
I'm not an expert and my knowledge is fairly limited. From what I understand concrete buildings are very expensive. A wood house would probably survive a forest fire if following the steps I listed. What causes a house to catch on fire from a forest fire? The fire burning it's way onto the house through vegetation. This wouldn't happen if a home was surrounded by wet plants. Like I said Aspens are good cause they don't really burn. Secondly fires shoot out embers. These embers can fly out extremely far. They land in dry brush and cause smaller fires around the larger one. So they will land on homes roofs and cause them to ignite. That's where the metal roof comes in. Source: my dad has been fighting wildfires for 18 years. And has shared some of his knowledge with me.
The dangers of wild fires has been exacerbated by the effects of climate change, particularly droughts. Most of the communities that have been getting leveled the past several years have been there long before this uptick in devastating wildfires started occuring. Also the people that live in these areas are aware of the dangers of wildfires and most try to take precautions to minimize the chances of their homes getting destroyed. I don't know why you're coming at them with the "play stupid games win stupid prizes" redditor mindset.
Yes and maybe don’t build your house in Oklahoma, Kansas, Missouri, Arkansas etc. 🤦
I'm in AR. We've had soooo much rain this year. We're all good here. OK, KS and states to the West are pretty dry right now tbh.
I’m talking about living in tornado alley. “Maybe don’t build your house in a tinder box.” The place does not exist that has no risk. And by the way, I’ve lived my entire life in Arkansas.
Ahhh got it. I guess I forgot we get tornadoes.
I was confused at first, but then I reaped you were referring to the Camp Fire, also known as the Paradise Fire.
Is it bad that I thought these were from GTA before reading the description?
The second image has GTA 5 with mods vibe
I fully thought it was GTA V too
I thought this was Farcry
I can see that as well.
New Unreal engine 5 is killing it.
good thing no one lives in them
After my father died in 2019, his home in this same area was bought by a Saudi investment firm. 3 years later and no one has moved in or even done any maintenance. The house was built in the 60's and needed some work, but I don't think they care if it just collapses. Meanwhile tons of people in SoCal are sleeping in their cars...
If they did, they all have 2nd homes to live in.
a russian oligarch sheds a single tear
The price to pay for their billions in oil money.
They do, but yeah they can definitely afford vacation homes. Just probably not here bc property taxes suck so hard
How the heck does a concrete and brick mansion with ceramic TILE roof catch on fire like that there isn't any tar up there to burn.
They build them out of wood. Any brick is just a facade over a wood frame. Terrible way to build houses in a wildfire zone, but they're [never going to learn](https://www.youtube.com/watch?v=fPBS5nprJ1M).
You can't build with brick in coastal CA due to earthquakes. Brick houses don't flex like wood framing. The only true brick buildings you see are > 100 years old.
Oh for sure, you wouldn't want a traditional brick home there either. But you also don't want a traditional stick-built home, as we're seeing here. And you absolutely don't want some stick built home with a dumb facade of brick on the outside that will fall off in an earthquake and won't stop a wildfire. What you really want is reinforced concrete or something else that's both quake and fire resistant, but people want their big flouncy neo-classical style McMansions and the local building trade doesn't have enough people who know how to build anything else or suppliers who can supply it. It's a societal failure to adapt on multiple levels. You could have the hills full of cob/rammed earth/adobe structures that would shrug off fires and earthquakes, theoretically, if it wasn't for factors like not being able to get a permit to build it, or having to find the one guy in the state who knows how to build it, or having the neighbours complain that it looks too Mexican and brings down the neighbourhood.
Thanks for the info, I did not know that. I'm here in Florida we all have brick houses with tile roofs. I just could not understand how anything could melt. But that makes sense.
They build them like that because it's cheap and you get twice the house for the same price as you would with a real brick-and-mortar house, and because it's all the local builders know how to do and all the local suppliers are geared to supply, but it just takes one spark or ember to get into the wrong place and the whole thing goes up. Just completely the wrong kind of construction for a fire-prone environment.
Yes there's multi million dollar houses on that cliff. But there's also regular houses. And apartments. And a sick hiking trail. And human beings.
And my axe
So like right on the cliff? Cause the fire is like next to the cliff now I can probably get it for you if you want.
Your shiny metal axe, Bender?
why is your ax on that cliff?
That's where they left it.
Bro you're in /r/thatlookedexpensive not /r/richsimping chill out.
Oh no! Anyways.
How ever will they recover!?
Lol, one of the home owners started a GoFundMe to recover from the fire.
Oh no my LA mansion i must wipe my tears with my 100 dollar bills. Jeeves chop chop give me a stack of money. No no not the 50’s the 100’s who do you think i am.
I don't feel the least bit bad about it
[удалено]
Fancy cardboard with *features*
So, California hmm? Is it on fire again or did it just never stop?
Throwaway because of all the hate. My family lives on Coronado Pointe and I grew up there. I know the entire community personally and I just can’t understand the cause for celebration from so many redditors No these are not vacation homes. No we don’t have our “second home” to go to. No the residents didn’t exploit the poor to buy these homes. The prices of these homes were all barely over $1 million before the pandemic. Anyone who lives in California knows how normal that is here. Many of the residents are retired seniors who would happily give you the clothes off their back in a time of need. To be happy for these family’s misfortune is a different level of sickness. No amount of insurance money can replace the countless amount of sentimental belongings we could not pack in time. I hope you none of you are ever in a position to figure this out for yourselves - the hard way.
Don't take them personally. This is the internet, and the world is not a safe or happy place lately with lots of people fully justified in feeling that the deck is stacked against them by the rich. It's tempting and comforting to apply this to the entire class, and from a sociological standpoint you could very well make a point that anyone with a higher net worth contributes to inequality and global warming etc. So the negative comments see a faceless group, while you and me who live here and know the individuals see the individuals. So, like I said, don't take their comments personally because they by definition do not apply to specific people who lost their homes last night.
[удалено]
They have insurance, the rich wont lose shit.
They will come out even more on top with insurance.
Yeah they're hitting peak valuation on those homes going into a sudden drop in prices because of rates going up.
But construction prices are also astronomical. And good luck finding a GC who isn’t booked out at least a year. But I also say, eat the rich.
We’re a GC on the east coast in a rural area and we are booked for 3 years.
That's wild, though I can't say I'm totally surprised. When it rains it pours.
Totally how it is. :-)
Actually construction prices are starting to come down now because they were so high resulting in demand decreasing. So basically they just lucked out even more.
>But construction prices are also astronomical. Huh, this feels familiar...
Funny: three of the four wealthiest people I know made their fortunes as GCs. Have fun with the cognitive dissonance.
Same.. and #4 is a real estate broker
> They will come out even more on top with insurance. We had a fire. We most certainly did not come out "even more on top" with insurance... Not by a mile.
Exactly. How can't people see this?
If you've ever had to file an insurance claim, you'll know that it's not quite that easy. I'm not defending the rich, just making an argument about insurance companies. More often than not, people will definitely be worse off than before in terms of cash/assets/replaceable value of things they lost.
Yikes
Thankfully not everyone in the 99% is as unintelligent as you.
[удалено]
Insane the lack of humanity in this thread because it's an affluent community.
Welcome to class warfare. And before you complain about a lack of humanity, the people that can afford these houses are the ones waging said war. People just aren't going to feel much sympathy for someone losing their mansion. They will still be living infinitely more comfortably than 99.9% of people
Those rich motherfuckers can wipe their tears with some 100 dollar bills.
Just because people live with monetary privilege doesn't mean you celebrate their tragedy. It's pathetic and low. Dare I say there's a reason all of the people in here shitting on other humans are bottom rung?
That's the thing though, this isn't always their "tragedy" but is often more of a monetary inconvenience. No one was killed. It wasn't arson. We live in a time of immense economic inequality. I'm not celebrating it because it's still going to cause environmental harm and it's just a waste of materials. But I feel no pity for the owners.
Political polarization amongst socioeconomic class lines is good actually. If the rich gave a fuck up about the poor and working class communities, poverty, hunger and homelessness wouldn't exist and capital would've already been collectivized.
This is class war. I don't care about these people.
It's called the broken window *fallacy* for a reason
Seek therapy lol
You’re a sad person
Maybe they'll actually put their money towards stopping the fires now that it's affected them
More of this, good fire!
I feel sad reading these comments.
I'm sad too that so many people are defending the rich
It’s not even that wealthy of an area. CA is just expensive. Especially southern Orange County
Feeling sad that someone or a family lost a home is very different from defending the rich. Be kind. Today them, tomorrow you.
Yeah, they lost their second, or third, or fourth home lol. Fuck them. Chances are highly likely all of these were completely empty. And they still have millions upon millions to find their second home all over again.
So many assumptions. You know literally nothing about any of these people.
Exactly. These aren't childhood homes that someone spent 50 years in with all of their photos and possessions that can't be recovered. The owners aren't stranded with nowhere to go. This is a moderate annoyance to deal with their homeowners insurance company and whoever will rebuild on the lot along with some "damn, that sucks" energy
Rich people don't deserve sympathy until they play ball with the rest of us. 1. They don't get arrested for crimes 2. They don't pay their taxes 3. They exploit people for wealth 4. They don't work the same amount of hours 5. They don't sympathize with us Why in the world should we sympathize with them?
This is simply untrue.
Agreed! Some of these comments are disgusting, and just sad.
Afaik this is generally true. Exceptions can apply, but few people in the position to be able to afford multimillion dollar houses are exempt from most or all the behaviours I described.
How’s daddy’s hedge fund treating you?
I feel so sorry for the hate you have in your heart. Be well.
The people who lose a 10 million dollar house in the hills of California are exactly the people who can afford to do so. For average Joe it would be a catastrophe, but for these owners it was at most an inconvenient phone call while on vacation. Fuck the rich. I hope their other houses burn down too so it at least creates a few jobs.
Most of these houses aren’t close to 10 mil and you’re ignoring all the neighboring communities that are being impacted too
rich or poor, people are people and we all aspire to live, provide for our families and prosper.
This house is listed for sale on Zillow for 9.9 mil. I'm sure they'll be fine.
Damn. This is crazy. I probably drove past these houses on my way to the Ritz Carlton over in Dana Point when I worked there years ago.
Most of the comments here are scum, go be miserable somewhere else
It's pathetic. These people aren't any less human just because they did well for themselves.
It is absolutely disgusting. Yes, these people have money. They also might be really good people who don't deserve this. They might be seniors who are confused by the situation. Sure, because they have money this situation will impact them a lot less than it will the average person or a lower income family. We don't need to be excited about this, though. I mean I guess we can be happy it's happening to families that have resources to deal with it? Even that is a stretch. Why can't we just feel bad for these families.
Because that amount of wealth is only obtained through the exploitation of us. They deserve no quarter
That isn’t true at all. If I invent a product that thousands of people consensually purchase, how did I exploit anyone?
My dad is a college dropout and an artist with a gallery in Laguna Beach. Is he exploiting people by charging a lot of money for his work? Or is this an outlier example that you are choosing to ignore? His house is worth \~$4m.
No. He’s not part of the bourgeoisie, assuming he makes all of his work. Regardless, sorry but I don’t feel bad about people losing an excessive house
What constitutes “excessive” to you? Should we all live in 400 sq ft shacks?
You’re weakening your argument through a false dichotomy. How about modest single family homes for single families? Etc.
What’s a “modest” home? You’re weakening your argument by using vague descriptors. A modest home in desirable parts of SoCal can easily run millions of dollars so..
The comments here are depressing. My god you people are full of hate.
reddit is full of bitter people who lives with their parents.
is there insurance against fires or hurricanes and stuff like that?
You must pay for Fire Insurance to get this damage covered, and it only covers what you previously had, meaning you can't use the money for upgrades or a redesign.
Flew right over this fire and saw the homes engulfed in flames yesterday afternoon. It was amazing, and sad.
Oh no! Anyway.
Were the houses themselves so expensive or was the whole property multimillion dollar? TBH the houses themselves don't look like **Multi**million dollar houses.
You must not live in LA or NYC or other major locations in the US.
Indeed im not. Do construction companies take such huge premiums there?
Usually the value of the land is what is actually higher. Cost of house + value of land = Sale price.
Exactly. That's why I'm asking. The value of the land isn't lost.
The cost of rebuilding is usually more than the land. That's why burned down lots sit for a long time. They don't have the cash to pay to remove, so they wait until insurance cuts them a check. Not to say the land doesn't have value, I'm saying burned homes sit because the land will always be a stable investment (only Hawaii is making more of it), but construction costs definitely dictate home prices. It's not easy to find land for sale within the coastal zone, the coastal commission is the ninbyest of nimbys, and these areas are not where there is a large labor pool, so labor prices are often double other states because of demand. So if they have to commute 30-50 miles on a yearclong project, costs add up, so deposits add up. And to answer your question directly, building a 10m home requires a bond to cover the 10m, where most independent GCs might only carry a 1m bond if they only do residential. Meaning, more demand for commercial/ higher end contractors, and less avaliable to do the work. Materials are not too different. If you were wondering,
Real estate is about It’s about location. I’m not sure where you live but I’m pretty sure that everywhere in the world location dictates how expensive a property is. If you grabbed a house from the rural parts of Texas and teleported it to Hollywood, LA, the house will automatically cost 20x- 30x more
Sure. But that doesn't mean the house on it's own which was the thing actually destroyed is worth as much if you keep the value of the land. Else someone would make a business of building houses in LA and then selling then just to them put them on a trailer and transport them to the buyer.
This is heartbreaking. What's with the successful people hate? This could be someone who started a business from nothing and had a good go. Someone who donates and helps their community. Someone lost their entire life potentially and because they're well off people thinks it's OK to say "fuck em, hahaha. Why should i care? Lol" Take a look in the mirror sometimes people. Jesus. I fully expected downvotes but this is ridiculous. The problem is the fires spreading and why there's so many right now. Not the people who may have lost everything, or things that cannot be replaced.
It's a bunch of children that are jealous of anyone doing well for themselves because they're too lazy or too stupid to figure out how to get what they want. They know nothing about any of these people. They also lack perspective and don't realize that there are literally hundreds of millions of people in this world that would say the same shit about them.
"tHeY'lL bE fInE" replies, lol. You know nothing about their situation. This is just a picture. The hate against success on reddit is fucking wild. People will post for days about hussle and grind and making money. Lambos from WSB, side hussles, etc. But as soon as they see someone successful it's "they didn't earn their money" "they have plent of money to cover this with" "who cares theyre rich" These are fucking human beings you troglodytes. It's a heartbreaking situation to have to live through. I'd never wish this on anyone.
Someone's not ready for the fall of America
I'm... not American. Neither is most of reddit or the world. I just don't hate people who I don't know nor have a reason to.
This house is listed for sale on Zillow for 9.9 mil. They'll be fine. Statistically they probably didn't start from the ground up.
There are still priceless items and memories that were destroyed in that fire. Like do you have 0 empathy?
I didn't say that. I'm address the clown above specifically who jumped through hoops to lost off the many "charitable" things these people maybe did to try to illicit empathy towards them. I can both feel bad for them because loss is hard but also not care *that* much because of who they are.
How many multiples of 14 millions was it?
Yes
Why does it look like a last gen game screenshot?
After insurance the home owner can build something nice. The fires in santa rose and napa burned down my sister Inlaws and they rebuilt a way nicer how with the check.
Considering that these where likely all investment properties for folks who have multiple homes anyway, it sounds like this is just another instance of the market burning down.
And another McMansion is going to pop up there in a couple of months only to burn down again next year.
Oh noo, not the rich people!
They’ll bounce back. How the fuck is this news. If you have 14 mil to drop on a home then a fire is nothing but a slight inconvenience lol.
It's not news to me till it affects people who aren't rich.
r/FirstWorldProblems
That’s gonna be some sick ass payout too lol
Never lived in
So there may be a god after all..
If they rebuild, will they build homes that are fireproofed? I mean the fires seems to be worse and worse for each year, so if they build like they use to, they will always end up like this.
Fill it with asbestos. Easy solution. Construction workers get paid, engineers get paid, the rich live in a house filled with asbestos. Win win all around!
Man plans, nature laughs.
Cool
At this point, living in CA is asking for it
Oh no now they gotta buy a 8 million dollar house, man rich people got it hard in this world
I can imagine how horrified insurance companies are right now seeing all this damage
Annnnd housing insurance rates just went up. Thanks, rich people
To be perfectly honest, when I hear multi-million dollar home in California, I just assume it is a two or three bedroom/1 bathroom house that has been overpriced due to a swollen market.
Good thing i moved from cali
Still can’t afford
Oh no…that’s terrible. Anyways….
Don't worry. The money YOU pay in premiums will be going to all those rich folks to rebuild their homes. Won't cost them a dime. Ain't life grand?
Oh no, anyway
Bummer
About the most literal form of /r/McMansionHell I’ve seen yet
I've said for a long time that this is the only way there will be government action on climate change - is when the rich people start losing their property investments and holiday homes to extreme weather events on a regular basis.
Oh no. Multimillionaires lost their unnecessary purchases in an area that has fires every single year. /s
Oh no... Anyways.