"The City of Los Angeles handles most permits in the Palisades, issuing 833 so far, or about 42 percent of all applications received, according to the state's rebuilding dashboard. Los Angeles County, which handles most permits in Altadena, has issued 601, or about 26 percent of the total applications received. By contrast, the City of Malibu has issued a paltry five permits, making up approximately 3 percent of the total applications received."
"It's depressing, Abe Roy, a Malibu resident and professional builder, told the Times. If this current pace continues, rebuilding will take way longer than a decade. Roy was appointed as the city's first Rebuild Ambassador in May but publicly resigned last month. Our work is far from done, Roy told the Malibu City Council as he resigned, according to the Times. Two permits issued in nearly 10 months is an abomination by any standard."
"While many Malibu residents want to stay, others are listing their homes for sale and looking to start a new life elsewhere. About 75 lots in Malibu have sold since the fire, but sales are slowing, opening up a buyer's market. Of the 160 lots in Malibu listed this year that are still on the market, 47 have gotten a price cut. Supply is exceeding demand, and lots are selling anywhere from a 20 to 60 percent discount, Roy said."
Nine months after the Palisades fire, rebuilding progress in Malibu remains minimal, leaving burned lots fenced and overgrown. Neighboring jurisdictions have issued hundreds of permits—Los Angeles City 833 and Los Angeles County 601—while Malibu has issued only five permits, about 3 percent of applications. The slow pace prompted the city’s first Rebuild Ambassador to resign, calling the permit output an abomination and warning reconstruction could take more than a decade. Many homeowners are listing properties, creating a buyer’s market; about 75 lots sold but 160 remain listed with widespread price cuts of 20 to 60 percent.
Read at therealdeal.com
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