The fires that ravaged southern California over the past two weeks, causing several counties to be declared federal disaster areas, are now almost over. Thousands of people in the San Diego area remain evacuated from their homes, but things are getting back to normal almost everywhere and the rebuilding will soon begin. Just how will real estate investments be affected by this?
If you look back at past natural disasters, you will see that generally areas affected by floods, hurricanes, earthquakes and other catastrophies come back stronger than before. This is due in part to the influx of insurance money and government aid given to people in order to rebuild their homes and businesses. It also strengthens the economies over the next one to two years by making jobs and other construction supported industries busier than before the disaster.
Hopefully, this will be a good thing in the long run for San Diego, where foreclosures are up and property values down.

