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In the days following the fires, a concerning trend has emerged: reports of price gouging, with rents spiking by as much as 40 to 50% in impacted areas. This is a troubling sign that as supply diminishes, those with property are increasing prices unnecessarily, significantly affecting displaced families seeking temporary shelter.
Addressing the Future
The rebuilding process poses its challenges. The sheer number of structures, combined with extensive permitting processes mandated by California law, could extend the recovery timeline for years. Furthermore, materials needed for reconstruction may face shortages if demand suddenly surges.