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Los Angeles realtor, Josh Altman, believes that up to 70% of Pacific Palisades residents may not be able to afford to rebuild their homes after the devastating wildfires. The community was ravaged by fires that have scorched over 50,000 acres, claimed 28 lives, and destroyed more than 16,000 structures since January 7.

    Altman, a former Million Dollar Listing real estate agent, says it's not a matter of people wanting to stay away from their homes, but rather the harsh economic reality. "It's simple math," he said. "They can't afford to rebuild." With construction costs skyrocketing and most homeowners underinsured, rebuilding in areas like Pacific Palisades and Malibu is becoming increasingly unfeasible.

    The logistical challenges of rebuilding are compounded by the area's war zone-like conditions, with ash coating everything and toxic chemicals present everywhere. Getting a construction crew to show up at a site will be nearly impossible when so many structures have been destroyed.

    President Donald Trump declared a national emergency after touring the hardest-hit areas, including Pacific Palisades and Malibu. The financial toll is estimated to be around $50 billion, with a shrinking insurance market in California exacerbating the situation.

    Altman believes that funding alone will not be enough to overcome the hurdles of rebuilding. He suggests cutting red tape and removing bureaucratic roadblocks, such as permits and regulations, to speed up the process. "The recipe for success is cutting the red tape," he said. "Building a house in California is wrapped in so much bureaucracy."

    Altman also recommends repealing specific regulations and taxes, such as the mansion tax and wildlife ordinances, to help those who lost their homes get back on their feet. He hopes that seeing the devastation firsthand will open up more funding on the federal level.