PG&E reaches $13.5B settlement for wildfire victims
FOX Business’ Susan Li reports on courts approving PG&E’s settlement with wildfire victims, potentially paving the way for the company to exit bankruptcy.
California's wildfires are cooling the state's real estate market as insurers seek to back out of fire-prone areas and would-be buyers face high costs for plans.
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The situation is causing buyers to have a hard time finding insurance and to then back out of purchases or lower their offers, The Wall Street Journal reported Sunday, citing real estate agents and homeowners.
California has seen numerous wildfires in the past few years. There were 16 in last October alone. Last month, state officials added protection for homeowners, preventing insurance companies from dropping them as customers for a year after a disaster-level wildfire burns near their homes.