'Firestorm': Author Jacob Soboroff on the Los Angeles fires one year later

Summary

Jacob Soboroff, author of Firestorm, joins Squawk Box one year after the Los Angeles fires to discuss the economic and human toll. He says rebuilding has barely begun and remains hampered by insurance problems, red tape, immigration policy, and labor shortages. He also notes corporate investors bought many fire lots in Altadena and the Palisades and are building replacement homes, changing neighborhood character.

• One year after the Los Angeles fires, 16,000 structures were destroyed, 31 people were killed, and an area three times the size of Manhattan burned.
• Rebuilding is far behind: only about 3,000 permits have been issued, and the process faces red tape, immigration policy, and labor constraints.
• Insurance remains a major problem, with rising premiums, lost policies, and environmental concerns keeping some surviving homes empty.
• About 40% of lots sold at the end of last year went to corporate investors rather than local residents.
• Corporate investors are buying lots and building box-style homes, altering the character of Altadena and the Palisades.
• Los Angeles and California remain highly unaffordable, limiting many residents' ability to rebuild or return.
• The speaker cites multiple wildfire causes, including alleged SoCal Edison equipment issues, water diversion, climate, EV batteries, and misinformation.