Residential Real Estate News
The Mountain is Moving, Placing Hundreds of Rancho Palos Verdes Homes at Landslide Risk
President Trump Draws National Media Attention to Rancho Palos Verdes Landslide Issues
A few days after a state of emergency was declared in Rancho Palos Verdes due to accelerating landslides, many homeowners are growing increasingly concerned about the future of their properties and the potential impact on home values.
Unfortunately, standard home insurance policies in California do not cover damages caused by earth movement.
According to local brokers, insurance companies exclude coverage for earth movement-related damage, such as land cracking, sinking, shifting, or expanding. This means homeowners affected by landslides will not be compensated for the damage to their properties.
The dangerous land shifts in Rancho Palos Verdes have already left hundreds of residents without power. In the Portuguese Bend community, residents have also lost gas service. Now, some fear the worst as the possibility of losing their homes looms larger.
During a brief stop between campaign fundraiser events, former President Donald Trump addressed the national media at his Trump National Golf Club Rancho Palos Verdes this past Friday, as the community faces a fast growing crisis from the ongoing land movement threatening hundreds of homes. Trump developed and has owned this affluent golf resort for over 20 years.
At the news conference, Trump commented on the severity of the situation, noting that many residents have been displaced, and thousands have lost electricity as landslides damage critical infrastructure.
City and county officials say they are developing plans to address the accelerating landslides, which in some areas are moving nearly a foot per week.
Additionally, the local housing crisis presents a challenge. California's ongoing housing shortage has driven up home prices and rents to unsustainable levels, particularly in coastal areas. Cities are tasked with planning for future housing needs while grappling with the increasing threats of climate change. Rising sea levels, coastal erosion, flooding, and wildfires are expected to become more frequent and severe, even in areas previously considered low risk.
Currently, hundreds of homes on the peninsula are without gas and electricity, as authorities cut services to prevent potential explosions or fires due to the shifting land. Governor Gavin Newsom has declared a state of emergency, leaving city officials and property owners scrambling for solutions.
