Half of Palisades Residents Unlikely to Return After Devastating Fire, Says Celebrity Realtor Josh Altman

Celebrity realtor Josh Altman has predicted that around half of Palisades residents will not return to the area after the devastating fire that has ravaged the Pacific Palisades neighborhood in Los Angeles. The fire, which started on January 7, 2025, has destroyed over 5,000 structures and caused at least two deaths. As of January 18, 2025, the fire is still largely uncontained, with winds and dry conditions posing a significant risk to the region.

Altman, who is known for his appearances on the reality TV show "Million Dollar Listing," believes that several factors will contribute to the mass exodus of Palisades residents. These factors include high insurance costs, the lengthy rebuilding process, the unpleasantness of being surrounded by construction, the desire for normalcy, and the fear of future fires.

Insurance costs are a significant issue for families considering a return to the Palisades. The high cost of insurance may deter some residents from rebuilding or moving back to the area. Additionally, the rebuilding process is expected to take years, which may be too long for some families to wait. They might prefer to start anew in a different location rather than deal with the lengthy rebuilding process.

The unpleasantness of being the first family back on a block surrounded by construction is another factor that might discourage some residents from returning to the Palisades. Additionally, the Palisades was a family-oriented community with many schools. With their children's schools potentially destroyed or relocated, some families might prefer to move to an area with established schools and a similar community feel.

Fear of future fires is also a significant factor that may contribute to residents' decisions not to return to the Palisades. After experiencing a devastating fire, some residents might be hesitant to return due to the fear of future fires. They may choose to move to an area with a lower risk of wildfires.



Despite the challenges and uncertainties, the Palisades real estate market is expected to remain strong in the long term. The area is still sought after, and a mass migration out of the area is not expected. However, some residents may choose to move to nearby areas like Brentwood, Santa Monica, Beverly Hills, or Bel Air, as mentioned by Josh Altman. The fires may lead to a shift in demand, with some residents seeking to move to areas with lower fire risk or better fire protection measures in place.

In conclusion, celebrity realtor Josh Altman's prediction that half of Palisades residents will not return after the devastating fire is based on several factors, including high insurance costs, the lengthy rebuilding process, the unpleasantness of being surrounded by construction, the desire for normalcy, and the fear of future fires. While the Palisades real estate market is expected to remain strong in the long term, some residents may choose to move to nearby areas with lower fire risk or better fire protection measures.