Following devastating wildfires in Altadena, CA, developers are flooding in to buy burned lots, igniting fears of gentrification among residents. With over 6,000 homes affected, only 22 rebuilding permits have been issued—marking a slow recovery. Investors are prominently purchasing properties, with over half of current buyers categorized as investors, substantially increasing from the previous year. Local activists fear that this development boom will change Altadena's character and displace long-term residents, leading to initiatives like the "Altadena Not for Sale" movement aimed at limiting speculative practices.
"What we don't want to see is a displacement of large-scale swaths of Altadena residents...people to come buy, build, and then sell it for a profit."
"Altadena residents have voiced concerns that the influx of developers would fundamentally change the character of the city..."
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