As the devastation from California’s wildfires intensifies, the cost of rebuilding continues to rise, but few could have imagined it would cost this much.
AccuWeather reports that rebuilding costs are expected to be between $250 billion and $275 billion.
Previous estimates put the figure higher than $50 billion and as high as $150 billion.
According to AccuWeather, part of the huge cost estimate includes the fact that the Palisades Fire, which started near Pacific Palisades, Malibu and Santa Monica, is burning down some of the most expensive real estate in the country. It is said that there is
Palisades fire likely to be the most expensive in history
“These fast-moving wind infernos sparked one of the costliest wildfire disasters in modern U.S. history,” AccuWeather Chief Meteorologist Jonathan Porter said. “Hurricane-force winds drove flames into an area packed with multi-million dollar homes. The devastation left behind is heartbreaking and the economic toll is staggering.”
But the extent of the damage remains in flux, with more dangerous fires expected to hit Southern California on Wednesday.
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