Million Dollar Listing star Josh Altman says up to 70% of Palisades residents will not return after devastating LA fires

“Million Dollar Listing” star Josh Altman predicts the Pacific Palisades will never be the same because he doesn’t expect the majority of families will return. In a new interview with Fox News Digital, Altman explained how the Los Angeles fires have affected residents of the Southern California town and what the future looks like. He says his insurance agent told him that “90-plus percent of these people are heavily underinsured.” Altman added, “I think 65-70% of the people do not go back to the Palisades or Malibu.I can just tell you from gauging all these calls that I’m getting where people are asking me to send them listings and talk to them about different neighborhoods.“I’ve gotten calls from many people who just don’t want to be in fire areas anymore,” he continued.

“You have to realize there have been multiple fires.… Is lightning going to strike twice? It’s going to happen again.

… So, you know, I think it’s more that most people just not having the bandwidth to go through a build process is going to be more of a determining factor.“I just don’t see people going back there.I see a whole new crowd without question.

So, don’t get me wrong.The Palisades is and will continue to be one of the hottest areas in real estate, one of the safest long-term investments, one of the greatest places to live, location-wise, near the beach, near the water, but also, have an amazing town.

It will all come back.It’s just going to be a totally new crowd, in my opinion.”Additionally, Altman said people are “fed up” with the drama with various insurance policies. “The other thing that I am seeing a lot of … is a lot of people who are fed up with what’s going on with the [insurance] policies that can’t leave California are talking about Orange County,” Altman said. “There’s a moratorium right now on insurance for any house within a 35-mile radius of a fire line where the fire was, so that’s a lot of houses.

So,...