The recent fires in Los Angeles have left a profound mark on the region's housing landscape, but this challenge also presents an opportunity for transformative change. Real estate developers and brokers emphasize the need for both government and the private sector to take historic action to rebuild and improve Southern California's housing situation.

Nearly 180,000 people have been evacuated, and thousands of homes and commercial properties have been lost, including the beautiful Pacific Palisades seaside neighborhood. The devastation is staggering, but it's a call to action for innovative and accelerated rebuilding efforts.

To meet this challenge, changes to zoning and permit approval processes must be fast-tracked, akin to the scale of the Manhattan Project. Rebuilding communities will require collaboration, creativity, and determination.

Despite a multifamily vacancy rate of just over 5%, expected to dip further, the region's housing market faces immense pressure. Builders were already struggling to meet demand, and now, with the loss of more than 10,000 homes and buildings, the need for rapid development is even more urgent.

Developers are ready to rise to the occasion, but they'll need architects, materials, and timely city inspections to make it happen. In the past year, only 8,600 market-rate units were completed, representing less than 0.8% growth in inventory, while rents continue to soar.

The fires are a catalyst for change, urging a streamlined, efficient approach to zoning and permits. Thousands of displaced residents are eager to find new homes, and the demand is driving an urgent need for affordable housing. This is a unique moment to address long-standing issues and create a more resilient, equitable housing market.

Our collective resilience and optimism will be key in overcoming this challenge. By demanding change at all levels of government, we can rebuild our communities stronger and better than before. Let's harness this opportunity to shape a brighter future for Southern California.

Stay positive.  Remember, if you need a smile, I will lend you mine.