[quote author="blackacre-seeker" date=1224032240]No need to get all worked up about this. I'm also not going to weep for some rich folks who have millions and often own several houses. It is unfortunate to have it happen to anyone nothwithstanding their financial situation, but there is a world of difference if a family loses their only large asset to fire, let's say a 400K condo, and a millionaire losing one of his 5M mansions. The millionaire can go stay at the Ritz, and the family without that kind of money is going to seek charity from relatives and stangers.
It is absurd to suggest that I should be all upset about threatened or actual fire damage to multimillion-dollar homes. Where did they get that kind of money anyway, flipping houses during the bubble? Underwriting bad mortgages? Cheating investors out of their money while collecting millions in bonuses?</blockquote>
No need to guess. We will never know how they got that kind of money, and each case is different. It doesn't mean people should be saying "yippee" for a fire--any fire. I personally know of 2 homeowners in that area that bought around 20 years ago. One couple is 2 teachers, the other manages a very small carpet cleaning company in costa mesa. Not cheating investors, not flipping homes, and definitely NOT in the mortgage industry ( I think we can all see the areas populated by the mortgage guys by looking at a map of forclosed homes in various <em>other</em> areas) The people I know worked hard, and saved their money and bought somewhere that they knew would hold it's value--aka not an area filled with mortgage brokers

So since the teachers, and small business owners saved their pennies and have been living in the same home for 20 years--that has increased greatly in value--it's no big deal and they can afford to lose everything? It shouldn't matter if someone is a teacher, carpet cleaner, or CEO. Cheering for fires is deplorable.