Los Angeles Fires to Top $50 Billion in Damage, AccuWeather Says

 The wildfires raging out of control around Los Angeles will likely cause between $52 billion to $57 billion in damages and economic loss, according to a preliminary estimate by AccuWeather Inc.

The blazes burning around Santa Monica and Malibu are consuming some of the most expensive real estate in the US, affecting areas where the median home value is more than $2 million, the company said. Fires fanned by hurricane-force wind gusts may spread flames deeper into these neighborhoods destroying more homes.

In addition to the human costs and property damaged, there will likely be longer-lasting health impacts due to acrid smoke, as well as a dent in the region’s lucrative tourism business, the company said.

“This is already one of the worst wildfires in California history,” said Jonathan Porter, AccuWeather’s chief meteorologist. “Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss.”

https://finance.yahoo.com/news/los-angeles-fires-top-50-212424334.html