Alternate headline: Coastal Californian housing costs are displacing people to areas that will most definitely, certainly burn down to the ground.https://twitter.com/voguemagazine/status/1072800861737369601 …
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Replying to @kimmaicutler
Don’t they know this? Do they just accept the risk? Or do they cynically free-ride on expectation of freebie government fire protection/damages insurance? I imagine home insurance rates are distorted by expectation of subsidized protection?
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Replying to @vgr @kimmaicutler
This land is ‘cheap’ and ‘affordable’ for a reason. Just look at the people who built and own houses near the refineries in the Bay Area. The refineries are known for issues... the land was empty for a long time... but people chose to build/buy there because $$
2 replies 0 retweets 2 likes -
Truckee is not that cheap. Median home price is $600K, like 2-3X the national median.
2 replies 0 retweets 1 like
if you cross the border into Nevada to Carson City, median price is half as much there at like $300K. I suspect CA property tax regime + its land use restrictions (possibly good in the case of wildfire areas) make CA-side homes more expensive.
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