The LA wildfires, now California’s most destructive in history, could cause more than US $150 billion (or £123 billion) worth of damage. That is, according to private forecaster Accuweather, which has forecast the staggering cost of the fires, which are now ramping up and expanding across the Los Angeles district.
“It’s clear this is going to be the most destructive wildfire in Californian history,” according to Jonathan Porter, Accuweather’s top meteorologist, adding that based on estimates on what has been to date, plus some near-term impacts, the fires “are likely the most destructive in modern US history.”
Wood Central understands that the calculations are based on a variety of data inputs, from property damage and execution efforts to the longer-term impacts, including job and wage losses and a decline in tourism to high-traffic areas. So far, more than 1,000 structures have been destroyed by flames. However, the real level of damage is expected to be much higher than current projections:
“It’s likely that 15,000 (or even 20,000) structures have already been destroyed (by the blaze),” Mr Porter told Sky News, with the fires ripping through some of the most expensive real estate plus crucial infrastructure in the United States.
The massive cost comes as NASA has revealed the scale and pace of the fires through satellite images from its Black Marble tool. Detecting light sources on the ground showed that the fires escalated rapidly within 24 hours after being reported in Actron, near the Angeles National Forest north of downtown LA.
“There is a tremendous loss that will result in many people and businesses needing a lot of help as they begin the very slow process of rebuilding their lives,” according to Mr Porter. “This is going to be an event that will likely take some people and businesses, perhaps a decade or more, to recover from this.”
- To learn more about the fires and how a timber-clad passive house survived the inferno, click here for Wood Central’s special feature.