For some L.A. wildfire survivors, rebuilding won't be an option

Many Los Angeles residents who lost their homes in last month's wildfires fear their insurance payouts won't be enough to cover the costs of rebuilding.

LOS ANGELES — As work crews race to clear debris from thousands of homes and businesses destroyed in last month’s wildfires, residents are grappling with whether they can afford to stay in a region where real estate prices were already out of reach for many people.

Displaced homeowners and renters are facing an economic landscape rife with long-standing affordability and equity concerns, illuminating the gulf between those who can afford to start over from scratch and those who cannot.

“It’s intimidating,” said Kaitlyn Little, who grew up in Pacific Palisades, one of hundreds of distinct neighborhoods that make up the city of Los Angeles. “It just reinforces the feelings of uncertainty and uneasiness about what the future of that town really does look like.”

The last photo taken of Kaitlyn Little and her 2-year-old son before their condo burned down last month. Courtesy Kaitlyn LittleLittle lost the Palisades condominium she shared with her husband and their 2-year-old child in the Jan. 7 fires that razed entire communities. At least 29 people were killed in the multiday siege, and more than 16,000 structures, the majority residences, were destroyed.

Now, Little finds herself in a market where the average home price in Los Angeles County is just shy of $1 million and the average rent is nearly $3,000, according to Zillow. State and local leaders have warned against price gouging, but displaced families said they are already feeling the pinch.

https://www.nbcnews.com/news/us-news/l-wildfire-survivors-rebuilding-will-not-option-rcna191730

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