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It Literally Looks Like A Nuke Went Off – We Are Witnessing The Costliest Fire Disaster...
Some of the images of the destruction that has taken place in the Los Angeles area are hard to believe. We are being told that approximately "75% of Pacific Palisades has been completely leveled by fires", and the use of the phrase "completely leveled" is not an exaggeration at all. It literally looks like a nuke went off and wiped out everything. There have been plenty of fire disasters in California before, but never anything like this. At this point, Accuweather is projecting that total economic losses will be "between $52 billion and $57 billion"…
The blazes — which are ripping through some of the nation's priciest real estate — are likely to cause between $52 billion and $57 billion in damages and economic loss, according to a preliminary AccuWeather estimate.
That may sound like a very high estimate, but JPMorgan analyst Jimmy Bhullar came up with a very similar figure…
A separate estimate from JPMorgan analyst Jimmy Bhullar also pegged total economic losses from the LA fires at close to $50 billion, the Wall Street Journal reported Thursday. That total includes insured losses at more than $20 billion and "even more if the fires are not controlled," Bhullar said.
Those losses would make the Los Angeles-area infernos the costliest wildfires in U.S. history.
Previously, the Camp Fire in 2018 was the most destructive wildfire in history — causing an estimated $12.5 billion in insured losses, WSJ said.
Read that last sentence again.
Prior to 2025, the costliest fire disaster in U.S. history caused 12.5 billion dollars in insured losses.
This disaster is going to beat that by a very wide margin.
One of the reasons why this disaster is going to be so costly is because homes are being destroyed in an area where home values are extremely high…
Some of the worst damage is located in Santa Monica and Malibu, where median home values are over $2 million, AccuWeather said.
On Thursday, multiple fires continued to spread all around Los Angeles.
Sadly, it was being reported that the Palisades Fire and the Eaton Fire were still zero percent contained…
Firefighters on Thursday continued to battle multiple deadly wildfires that erupted across Los Angeles, creating an apocalyptic scene as residents fled the raging infernos.