This LA fire is going to destroy hundreds of black families generational wealth.

[3rdWorld]

A lot of insurance companies pulled their fire insurance out of LA.

Also costs to rebuild are going to be astronomical. Expect huge firms to come in and buy all this property and out price the people.

Think Hawaii

Or Florida, where insurance companies refuse to insure the coastal cities because they're in a hurricane path.

 

[null]

build brick houses.

put power cables under the ground.

use fire-retardant materials.

build fire-breakers into the architecture



^ a long time ago. london would not burn like that today

 

[Gloxina]

A lot of insurance companies pulled their fire insurance out of LA.

Also costs to rebuild are going to be astronomical. Expect huge firms to come in and buy all this property and out price the people.

a lot of people inherited their generational homes. insurance companies fukked everyone by removing fire insurance



Also, bidding wars have already skyrocketed this week for homes and rentals by the rich. driving home prices even higher now. Private equity firms gonna make more money now too. Regular folks lose once again

Exactly.

 

[Kasgoinjail]

build brick houses.

put power cables under the ground.

use fire-retardant materials.

build fire-breakers into the architecture



^ a long time ago. london would not burn like that today

R u from London?

Most of our houses are brick however a lot were using illegal cladding that caused the Grenfell Fire.

They are still trying to put people in certain positions in JAIL for that 7 years later.

 

[Tribal Outkast]

People always say insurance. Man them folk slimy.. you understand how much they would have to pay out???? Man they trying to cover their own asses smh. I just feel bad for them folks man. You got Helene on the east and the fires in the west. These insurance companies ain’t trying to play fair.

 

[Theo Penn]

DDG trying to cop some fire insurance NOW. What company is going to insure you at this point in time?

 

[mson]

 

[King Poetic]

A lot of blacks in altadena and pasadena homes was passed down from generation to generation

And u had homes people bought for under 200k back in the 90s and some around 100k back in the 80s and now home prices are around 800/900 k today , so if your home has burned down u literally fukk.. insurance companies will lowball you or even some will search and search through the documents u signed to find anyway not to pay for the claim..

U got, 40,50,60,70,80 year old black folks at this point don’t have 500k in the bank or hell even 100 k in the bank to start over again..

 

[kevin arnold]

DDG trying to cop some fire insurance NOW. What company is going to insure you at this point in time?

He’d have to get the state insurance supplied by California. It’s the bottom of the barrel

 

[#BOTHSIDES]

most of the people in altadena and pasadena were not rich folks. i know school teachers that lived out there that homes got burned down.

Altadena is on fire now?

 

[BigMoneyGrip]

Just keeping up with this story and that town Altadena was the area that black people that worked in Pasadena could live in and buy homes.



They had been up there since the 50’s.

Generational wealth is gone. This is hundreds of black families.

This should be a time for the black community to come together and help out. Black LA billionaire and millionaires and regular working class gotta get on code. These families will most likely lose their land and won’t be paid thru insurance.

This is a tipping point for black LA imo. A

Wouldn’t be surprised if this turns out to be terrorism.

They didn’t have home owners insurance? Deeds to their homes? If they have both their generational wealth ain’t going anywhere hence they can rebuild but yeah I agree on its surface and the implications

 

[boogers]

i dont have anything to add, just found this interesting... was wondering about the population demographics in pasadena... i was curious so i looked em up

looks like black people are being pushed out. white population is declining as well (not nearly as much tho). asian population is growing exponentially, while the hispanic population seems to stay about the same.

would be interesting to see the 2024 ones once theyre posted

 

[voiture]

People should have bought those houses back then instead of renting.
What matters is the land.
Developers can put up new structures in months after the fire.

 

[feelosofer]

Yea. This is part of the reason I wasn't dancing around about celebrities houses burning down because fire doesn't care about your color/status.

 

[gldnone913]

A lot of blacks in altadena and pasadena homes was passed down from generation to generation

And u had homes people bought for under 200k back in the 90s and some around 100k back in the 80s and now home prices are around 800/900 k today , so if your home has burned down u literally fukk.. insurance companies will lowball you or even some will search and search through the documents u signed to find anyway not to pay for the claim..

U got, 40,50,60,70,80 year old black folks at this point don’t have 500k in the bank or hell even 100 k in the bank to start over again..

These folks wouldn't be grandfathered in to have insurance policies? This is tragic all around, but especially for Black folks trying to fulfill the "American Dream"

Unrelated, but insurance companies suck. Just dealing with them and how they claims adjust is a painful process. From floods to fires to acts of God, insurance companies will make sure they come out on top