Now I'm thinking both this and
Lahaina were both operations to drive people out and take opportunity of the land prices in the aftermath.
Give real estate conglomerates and the finance industry's
mortgage backed securities and their obsessiveness at making their balance sheets look pretty... I'm asking questions. I've been seeing a lot of fuckery with things like
natural disasters and
insurance quotes lately in many western countries. I think banks, real estate moguls, insurance corporations and governments are conspiring to burn, flood, reevaluate and bully people out of their properties
in order to manipulate the market. I'm not suggesting they're all in one bag, this is just the side effect of competition nowadays. Obviously something set this off decades ago (likely the
GFC and
toxic asset pools that became so bad that these corporations are now willing to sacrifice people for the sake of floating the economy) and now this sort of
corporate racketeering is considered legitimate business for these major corporations. I guess covid crashes made the situation
dire.
This sort of behavior reminds me of early colonial corporate practices where they would literally start fires in places to drive "problems" out of areas. Or corporations that sabotage the local area around their competition to monopolise the market (like Chicago and NY and it's mafias and how they were utilized by corporations to fuck over other corporations).
Corporations have historically done this shit in the past and I guess we're seeing it again.
Reminder that
Lahaina had a long history of hiring
definately-not-blackbirded foreigners to that area to the point of
harming property prices. In that case they needed to drive up prices.
In
LA's case, given the
expense of the location and the likelihood that many people have
bought out the equity on their properties (because of high income earners in Hollywood and other local thriving industries such as tech industries in the region) may suggest that the goal was to
drive those people out temporarily to
make money on the price fluctuation, but also to make sure they
never earn insurance claims (that would be bad to these financiers
who are leveraged on insurance liabilities being paid off by
having pools of liquidity available and not being used by insurance lendees to pay claims requested by anyone insured in that area). Finally, they would then cash in the cheaper property prices in the aftermath, taking a
long position on these assets. Remember, these
properties will go up some time after an immediate slump post fires. You're also talking about an area where
rich locals are most likely (that is, near guareteed) able to buy from you "after some time in the future", but not likely
immediately because of the fires (that is they aren't competition for these properties immediately after these fires).
The payoff is likely
billions of dollars that could be a positive thing for these banks and their balance sheets here.
If the economy is
about to head for disaster for some balance sheet related reasons that are unavoidable, this might be how they try to avert such a crisis.
Welcome to modern finance.
I've been watching these motherfuckers do this shit over and over again for 15 years now.
I GUARANTEE these assholes are doing this.
They will kill you if you negatively impact their balance sheets. They are pure evil.