“Price of paradise”: Malibu sinkhole re-opens debate on coastal real estate

As Malibu continues to reel from the devastation of last year’s Palisades fire, a sinkhole this week under Nicolas Cage’s driveway dredged up old concerns about living on the coast. Tuesday’s incident prompted the city to declare a local emergency and evacuate 31 properties as the city remains on alert about the possibility of other erosion issues in the Palisades fire burn areas along Pacific Coast Highway. A city spokesperson on Thursday was unable to confirm if additional evacuations are possible.  Real estate is mixed on what this means for the market.   While the scale of the sinkhole evacuations on […]

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