Its weird how one house is 30 mil and the house next to it is 2 mil and the house 2 houses down is 70 mil.
The land seems like it's not really the major draw, but I hear people say the land is the major draw.
Lucky for these folk though, the goverment will pay out 2 dollars for every dollar they had their homes insured for, because these people are too big to fail.
Like the land, is worth 1 mil.
The houses on them are worth 1-50 mil.
I really wonder what the cost of insuring a 50 mil house in Malibu is. And what they're supposed to get back if it burns down.
I imagine the economy locally will be very good in a few years rebuilding these homes.
But for some reason i have this stinking sensation, that the goverment is totally broken right now, and all that's gonna happen is people are going to go bankrupt because of slow rebuilds, insurance companies are going to close, rates are going to go up, and they will rebuild like 10% of the affected area in like 5 years.
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