Seller’s Market

Out of the Fire and Into a Real Estate Nightmare

Thanks to the infernos in LA, a house listed for $3 million sold for $6 million—and the rental market has gone haywire too.
Houses above PCH in Malibu after the Palisades fire on Wednesday, Jan. 15, 2025 in Malibu, CA.By Brian van der Brug / Los Angeles Times / Getty Images.

The DC-10 jetliners were still dropping hot-pink fire retardant on the fires raging across the Santa Monica Mountains when Angelenos began frantically calling their real estate agents. Most of them were looking for a rental in a good zip code—something comparable to the home they’d just lost. Often, they wanted a yard for the dog, and for the place to be close to work, community, and their kids’ schools.

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