Los Angeles fire damage estimated at $250 billion

Fires are burning worst in areas from Santa Monica to Malibu, home to some of the most expensive luxury real estate in the country, said AccuWeather chief meteorologist Jonathan Porter. According to him, the average cost of these houses exceeds 2 million dollars.

If even more buildings burn in the coming days, this fire could become the worst in modern California history in terms of the number of buildings burned and economic losses, Porter said.

He added that hurricane force winds were responsible for the destructiveness of the fires, which carried the fire to neighborhoods full of homes valued at millions of dollars.

The estimate for the current fires in Los Angeles exceeds not only the damage from the entire 2020 fire season, but also the damage from the Hawaii fires in 2023 (between $13 billion and $16 billion), as well as the damage from the hurricane Helen in 2024 (between 225 and 250 billion dollars).

According to Porter, the fire will have long-term consequences: many families may not have money to repair destroyed properties, businesses may not recover, and jobs may be lost.

• On January 10, AccuWeather’s chief meteorologist reported that in the future, total damage and economic losses from the Los Angeles fire could amount to approximately 4% of California’s annual GDP (about $3.9 trillion). in 2023, according to the Public Policy Institute of California).
• As of January 14, fires in California have killed at least 24 people and destroyed more than 12,000 buildings, The Washington Post writes.

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