America News

Palisades fire in Los Angeles caused estimated damage exceeding 50 billion USD, making it among the worst disasters in the United States

The Los Angeles wildfires are shaping up to be one of the biggest economic disasters in California history, with initial economic losses estimated at more than…
Palisades fire in Los Angeles caused estimated damage exceeding 50 billion USD, making it among the worst disasters in the United States
Send to

The Los Angeles wildfires are shaping up to be one of the biggest economic disasters in California history, with initial economic losses estimated at more than $50 billion. It’s not just a financial problem, it’s also an uphill battle for firefighters and local communities.

Los Angeles wildfires
Wildfires raging through Los Angeles since Tuesday have k.i.l.l.e.d at least two people destroyed hundreds of structures, and strained firefighting resources and water supplies. Severe weather and high winds have made it difficult to control the blazes and have increased the risk of them spreading.

This is one of the largest wildfires in California history, with serious consequences not only for people but also for the economy and the environment. Densely populated areas are at risk of being severely affected if the fire is not extinguished in time.

The economic cost of the wildfires is estimated to be between $52 billion and $57 billion, according to AccuWeather, a private forecasting firm. If the fires spread to densely populated areas, that figure could rise significantly.

“If the number of structures destroyed continues to increase in the coming days, this could become the worst wildfire in modern California history, both in terms of the number of structures damaged and the economic damage,” Jonathan Porter, AccuWeather’s chief meteorologist, stressed.

By comparison, the 2023 Maui wildfires have caused an estimated total economic loss of $13 billion to $16 billion, far less than Los Angeles’ current figure.

However, that figure does not take into account additional losses if the fire continues to spread. Meanwhile, JP Morgan estimates that insured losses from the Los Angeles fire could be around $10 billion, mostly related to home insurance and only a small portion related to commercial insurance.

Recommended Article Kelly Clarkson ‘not above spanking’ her kids if they misbehave.

Measures are being taken to control the fire.
According to real estate consulting firm CoreLogic, more than 456,000 homes in the Los Angeles and Riverside metropolitan areas are in the medium- to high-risk zone, with a total estimated rebuilding cost of nearly $300 billion. However, this figure does not indicate the specific areas affected by the current fire but rather reflects the overall risk to the entire region.

These figures show the level of danger that wildfires pose, not only causing direct financial losses but also threatening the safety of millions of people living in the area.

Firefighters are working hard to bring the blaze under control, but severe weather and strong winds continue to hamper their efforts. Local communities have been evacuated for safety, and authorities are mobilizing maximum resources to prevent the disaster from spreading further.

Meanwhile, experts predict that the damage will increase if effective emergency measures are not taken. The urgent issue now is how to protect densely populated areas from the spread of the fire, while minimizing the economic and environmental impact.

Have you read them?

Family of Boy, 9, Who Died After Becoming Trapped Between Rocks at a Beach on Easter Sunday Says Their ‘Hearts Are Broken’

7 Surprising Items You Can Wash in the Washer

Pope Francis’ ‘Eyes Were Open’ in His Final Moments but He Was Comatose and Doctor Didn’t Want to Risk Hospital Trip

Pit bull found dragging the baby across the floor by her diaper – seconds later everyone is hailing her a hero

News Feed

24.04.2025 23:14 Celebrities

Kelly Clarkson ‘not above spanking’ her kids if they misbehave.

24.04.2025 23:08 Celebrities

Jennifer Lopez mocked in Saudi Arabia for pink catsuit outfit

24.04.2025 23:03 Celebrities

Pedro Pascal Blasts J.K. Rowling as a ‘Heinous Loser’ for Her Anti-Trans Views

24.04.2025 22:57 Celebrities

Meghan Markle Reveals Why She’s the ‘Happiest I’ve Ever Been’

24.04.2025 22:53 Celebrities

Ryan Reynolds Reveals Son Olin’s Favorite Movie — and It Stars His Famous Mom and Dad

24.04.2025 22:50 World

Family of Boy, 9, Who Died After Becoming Trapped Between Rocks at a Beach on Easter Sunday Says Their ‘Hearts Are Broken’

24.04.2025 22:47 Tips & Tricks

7 Surprising Items You Can Wash in the Washer

24.04.2025 22:42 World

Pope Francis’ ‘Eyes Were Open’ in His Final Moments but He Was Comatose and Doctor Didn’t Want to Risk Hospital Trip

24.04.2025 22:39 Stories

Pit bull found dragging the baby across the floor by her diaper – seconds later everyone is hailing her a hero

24.04.2025 22:36 Animals

Why a cat leaves home and doesn’t come back: 7 common reasons

24.04.2025 22:29 World

Alien World Shows Signs of Life? James Webb Spots Earth-Like Molecule Only Made by Living Things

24.04.2025 22:21 Stories

Former child star Sophie Nyweide was pregnant when she died

24.04.2025 22:16 Health

THIS ROOT IS BETTER THAN PILLS. IT RELIEVES INFLAMMATION, KNEE PAIN, AND MUCH MORE.

24.04.2025 22:12 Stories

They Met at Just 7 Years Old. 16 Years Later, Their Love Story Is Going Viral

24.04.2025 22:06 Spotlight

What does it mean that a man puts his hand on a women’s leg, according to psychology?

24.04.2025 15:15 World

Why King Charles is forbidden from attending the Pope’s funeral

24.04.2025 15:01 Joke

An elderly Pope arrives in New York and is picked up at the airport by a limousine

24.04.2025 14:57 Celebrities

Teddi Mellencamp Says All Tumors Have ‘Shrunk or Disappeared’

24.04.2025 14:54 Items

99% of People Have No Idea What This Is…

24.04.2025 14:49 Spotlight

Can You See the Elephant in The Image?

24.04.2025 14:45 Celebrities

Jay Leno Says Becoming Wife Mavis’ Caretaker After Dementia Diagnosis Is ‘What Love Is’: ‘I Would Rather Be with Her’

24.04.2025 14:40 Spotlight

Find the mistake in this picture!

24.04.2025 14:38 Stories

ChatGPT Diagnosed a Woman with Blood Cancer a Year Before Her Doctors Found It

24.04.2025 14:31 Health

A New Hope Is Born: The Natural Drink That Could Fight Can.cer

24.04.2025 14:22 Tips & Tricks

14 Things You Should Always Throw Away

24.04.2025 14:14 Celebrities

Kanye West Claims Kim Kardashian Wanted Bianca Censori for Skims Modeling Campaign

24.04.2025 14:09 Spotlight

She can’t find the fish she wanted to fry. Do you see the fish?

24.04.2025 14:06 World

Reason why Pope Francis’ ring to be destroyed with hammer

24.04.2025 14:03 America

Want to Work for Travis Kelce and Patrick Mahomes? Their Restaurant Is Hiring New Positions

24.04.2025 14:00 Tips & Tricks

Experts caution against using air fryers instead of ovens

Exit mobile version