the rich will just buy the land from those that are now in a cash crunch (these can be rich whose house burned or more likely the middle class whose net worth was mostly in their houses), and they will turn these prime and sub prime locations into what they used to be or better.  fortunes will be made and lost with this.  hollywood will stay a prime location whether you like it or not. in 3 or 5 years the whole thing will look better and more luxurious than before because that's the world we live in. inequality is at an all time high.  pay to play or fuck off
Canada