Called to say hello today, 1030AM his time, talking about stuff, and he mentioned that Ca. real estate is taking a hit due to that huge territory being wiped out in wildfires last year.....being as it's twice the size of his region, Nevada City and Grass Valley.....and the reason is that insurance companies just can't take the hit on such a disASSter, like the hurry-cains here in Florida, or Houston even, much less New Orleans flooding/etc......
so folks are finding it hard to collect, banks taking hits on loans, payments necessarily stop, and the whole financial sector goes unstable on account of huge high dollar losses like that......take a bunch of 100k houses, ok loss is X amount, take similar houses and count at 500k each, and all of a sudden, shit hits the FAN......
So an interesting shituation there has hit the RE market in Ca......that and folks moving out, while freeloaders moving IN.....going to be cute to watch all this shit happen, and the failure to have a proper reaction on part of the Ca. .gov types......
Watt say yawl that live out in them thar regions??