Originally Posted by
evdog
The rich will be able to rebuild.
But there are plenty of people living in Palisades who are not rich, who live there because they or their family bought homes there many decades ago when it was more affordable. They will rely on insurance to re-build, if they have it (and they do not get fucked over by insurance). If not, they will probably be forced to sell. And the rich and/or predatory developers will swoop in and buy those properties. The land will still have value. Hopefully those residents get a decent enough return they can buy elsewhere.