Tag: Coasts

The West Coast’s wildfire real estate crisis has $8 billion at stake

  • The 2020 wildfires are some of the worst in the history of the West Coast. 
  • Per a recent analysis by Realtor.com, roughly $8 billion worth of real estate is currently at risk in California and Oregon, which equates to over 23,700 homes. 
  • Top real estate agents up and down the coast describe why this year is different, and what it means for property values. It could actually be a good thing for urban areas.
  • Jed Kolko, chief economist for jobs site Indeed, told Business Insider that while the fires may prompt some to move away, others with the financial means may become seasonal “firebirds,” like the “snowbirds” on the east coast. 
  • Visit Business Insider’s homepage for more stories.

The 2020 wildfires are some of the worst in the history of the West Coast.

In recent weeks, dozens of fires have lit up California, Oregon, and Washington, burning both rural and

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Economic expert optimistic about Central Coast’s recovery after pandemic

The Central Coast tourism industry is seeing a bounce back since the COVID-19 pandemic hit.

“Sorry, No Vacancy” read the sign outside the Madonna Inn in San Luis Obispo on Friday. The iconic hotel is now booming with visitors.

“So far, September is even stronger than last year,” said Clint Pearce, President of Madonna Enterprises.

Pearce adds that July occupancy was off about 5% from the year before and August was almost as strong as 2019.

These summer months are a drastic turnaround from March when COVID-19 started.

“Almost all business went away,” Pearce said. “Everyone locked up. We were selling maybe 6 or 8 rooms a night.”

In San Luis Obispo County, the hotel occupancy rate has dipped by 20% from last year to this year when looking at January through July.

Economic expert Dr. Chris Thornberg says when it comes to jobs, the unemployment rate has been falling

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