As it relates to the Pallisades and LA fires: If State Farm did a risk analysis on PP homes and cancelled insurance plans because the State refused to increase premiums in keeping with the actual risk, then the State of CA is not allowing the free market to dictate that inherently keeping the risks in mind the house prices are inflated. Same thing with FL and flooding and hurricane insurance. Similar to CA no private insurers are operating in FL, it’s the state. There is a risk of house prices coming down to reflect the true risk of insuring these homes. Just something to keep in mind.