{{ The average household income is $375,000, three times the city average, and the typical home is worth $3.7 million. The community is home to Hollywood royalty, chief executives, political donors and hedge fund managers.
Its deep-pocketed, well-connected residents have access to power that few have: They can pick up the phone and call Gov. Gavin Newsom, Los Angeles Mayor Karen Bass or Steven Soboroff, whom the mayor appointed as the rebuilding czar. The sheer concentration of affluence — coupled with the frustration that the government’s response to one of the biggest American catastrophes in recent history has been inadequate — could greatly shape the future of the Palisades.
Past disasters have shown that in the aftermath, wealthier communities fare better than their poorer counterparts, and in its resurrection, the Palisades will be more expensive and more exclusive than it was before the fire tore through it last month, according to Max Besbris, a sociologist at the University of Wisconsin-Madison, who studies how climate change impacts real estate values, residential decision-making and inequality. }}
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