As the wildfires continue to plague Southern California, the estimate of the total economic loss has been included in more than $ 250 billion, making it one of the most expensive natural disasters in the history of the US.
Initial estimates by accuWeweather and jp Morgan put the damage in the $50 billion list, but the expected amount quickly increased threefold as the fires spread to the Altadena, Pacific Palikades and Malibus areas.
In the past two days, hundreds of firefighters have had problems fighting several fires in the hills around Los Angeles, including a large fire near Castaic, a fire in the morning in Sepulveda Pass that threatens the communities of Brentwood and Bel-Air , and another that is advancing in Ventura County Farmland on Thursday morning.
The latest estimate from Weather Forecasting Service accuWeather puts the expected total damage and economic loss between $250 billion and $275 billion. That includes the cost of damage, loss of life, health, business interruption and other economic impacts.
“These fast-moving, wind-driven propellants have created one of the costliest wildfire disasters in modern history,” said accoweath chief medical officer Jonathan Porter in a statement. “Hurricane-force winds sent flames ripping through neighborhoods full of multi-dollar homes. The destruction left behind is heartbreaking, and the economic damage is staggering.”
Many fires have already burned thousands of acres in and around Los Angeles, displacing more than 150,000 people who have had to evacuate or lose their homes, and damaged or damaged or damaged or damaged or damaged or damaged or damaged more than 15,000 buildings. The confirmed dead count is 28.
The Palisades fire is burning in the area from Santa Monica to Malibu flooded among the most expensive real estate in the country, with home values in communities of more than $ 2 million. It could be the worst wildfire in California’s modern history based on the number of buildings burned and economic losses, Porter said.
The estimated financial costs exceed the injury and economic loss numbers for the entire 2020 wildfire season, which was the busiest wildfire season, Porter said.
According to the National Oceanic and Atmospheric Administration, Hurricane Katrina in 2005 has been the most expensive US natural disaster to date, costing $200 billion.
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