According to California weather reports a hurricane and a couple of tornados whirl toward us.
After all, the Bel Air Chalet is insured for six million dollars thanks to our crackerjack board of two who are busy distributing documents that we must be kind and gentle with each other.
I’m all for being kind and gentle and even, politically correct, but gee whiz — what about this?
The building at 2345 Rosomare Road has 24 units. It will cost about $16,000,000 to replace it. The rebuild cost per unit turns out to be a devil number: $666,666.66. (That’s the dastardly coven at work.)
We might have enough insurance money to replace about ten units. The result: each of us will be stuck with assessments to build the remaining 14 units. That’s around $10,000.000. Each of the 24 homeowners would be assessed $714,000.00.
Recently a condo sold here for $815,000. After our land is worth something. Unless we get a massive hurricane with rogue winds that will remove much of our dirt. I wonder if that’s where the expression dirt poor comes from.