The Los Angeles wildfires have emerged as one of the most devastating natural disasters in US history, potentially becoming the country’s most expensive wildfire incident. Officials confirmed five fatalities and the destruction of over 1,000 structures as intense fires swept through the region.
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Residents evacuated from smoke-engulfed canyons and upscale neighbourhoods, known for their celebrity inhabitants. The fires, which began on Tuesday, were intensified by strong Santa Ana winds reaching speeds of 70 mph (112 kph). These persistent winds on Wednesday initially prevented aerial firefighting operations, though they resumed later that morning.
$52 billion to $57 billion in preliminary damage and economic loss
The fires around Santa Monica and Malibu are affecting premium properties where median home values exceed $2 million, according to AccuWeather Inc. The company estimates the total damage and economic loss between $52 billion to $57 billion.
The hurricane-force wind gusts threaten to push the flames further into residential areas, potentially destroying additional homes.
Historical data from the National Oceanic and Atmospheric Administration since 1980 shows Hurricane Katrina in 2005 as the costliest US natural disaster at $200 billion. The 2018 California fires, including the Camp Fire, resulted in approximately $30 billion in damages.
The extent of burned land was smaller compared to California’s historically…
