California’s devastating wildfires continue to rage, with a mounting price tag for rebuilding efforts. According to AccuWeather, the cost is expected to be between $250 billion and $275 billion. This significant increase far surpasses previous estimates of $50 billion and as high as $150 billion.
The massive cost is largely due to the Palisades Fire, which is burning in some of the most expensive real estate areas in the country, including Pacific Palisades, Malibu, and Santa Monica. AccuWeather Chief Meteorologist Jonathan Porter describes this wildfire disaster as one of the costliest in modern U.S. history, with hurricane-force winds fueling its rapid spread.
The full extent of the devastation remains unclear, but a new wave of dangerous fire conditions is expected to hit Southern California on Wednesday.
Source: https://ktla.com/news/california/wildfires/cost-of-rebuilding-skyrockets-to-more-than-250-billion