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Redfin Reports Over $50 Billion Worth of Los Angeles Homes Were Impacted by the January Wildfires

1. $51.7 billion in LA homes was affected by January wildfires, impacting approximately 11,000 properties. 2. Redfin, associated with Rocket, analyzed extensive housing damage from the wildfires.

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Why Bullish?

The significant property damages could drive demand for housing services, benefiting RKT. Historically, similar disasters have spurred home refinancing and mortgage applications.

How important is it?

The article outlines substantial property damage which could lead to heightened demand for RKT's services, impacting its market position.

Why Short Term?

The immediate aftermath of disasters typically results in increased mortgage activity. This demand is likely to manifest rapidly as affected homeowners seek solutions.

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SEATTLE--(BUSINESS WIRE)--$51.7 billion worth of homes in the city of Los Angeles—or roughly 11,000 residential properties—were impacted by the wildfires in January, according to a new report from Redfin, the real estate brokerage powered by Rocket. The report analyzes data from the Los Angeles City Council. The council shared a list of 11,125 residential parcels in the city of Los Angeles that were inspected by the Los Angeles Department of Building and Safety after the wildfires. Redfin was a.

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