California's massive rebuilding effort after the deadly wildfires could include mass-building techniques such as pooling together builder and crew resources, according to industry experts.
More than 14,700 homes were damaged or destroyed by last month's wildfires. CNBC reports that the current priority is a government-led toxic waste cleanup at affected sites, and state officials project rebuilding to start in spring 2018. Some say the rebuilding process may take 3-5 years to complete.
"Doing a group rebuild is a way to lower price so people can afford to rebuild," said Kenneth Klein, a California Western School of Law professor and expert on natural disasters. He said insurance industry data shows about 80 percent of the homes in America are at least 20 percent under-insured, meaning they do not have enough insurance proceeds to replace their homes to the state it was prior to the destructive incident.
Advertisement
Related Stories
Forty Under 40
2024 Forty Under 40 Nomination Form
Help us recognize the rising stars, innovators, and game-changers in the housing industry!
Market Data + Trends
Housing Market Index Shows Builder Sentiment Continues to Rise
In March, builder confidence in the market for newly built single-family homes hit its highest level since July 2023
NAHB
Overcoming Challenges, Celebrating Victories
NAHB Chairman's Message: 2023 was a challenging year for home building, but among the challenges, there were many victories as well