Following the Eaton fire in Altadena, hundreds of signs reading "Altadena Not for Sale" emerged, reflecting community resistance to external investors. However, the local real estate market is experiencing a drastic increase in sales, with approximately 145 burned lots sold and 100 listed. Most purchases are made by developers, contrasting with a sluggish Palisades market. This trend may continue as fire victims grapple with rebuilding logistics and insurance claims, which could take years. An anonymous resident expressed the hope to restore the neighborhood, although that vision seems increasingly unrealistic given current sales.
In a perfect world, my neighbors and I would all rebuild, and five years from now, Altadena would look the same as it did before the fire.
The identity of every single buyer isn't clear, since many are obscured by trusts or limited liability companies, but developers are buying the lion's share.
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