The catastrophic Los Angeles wildfires that have reduced entire neighborhoods to piles of ash are estimated to have caused damages and economic losses between a staggering $250 and $275 billion, according to a report.
The deadly wildfires, which have torched more than 40,000 acres and destroyed over 12,000 structures over the last week, is now one of the costliest natural disasters in US history, according to the latest estimate from AccuWeather — as the blazes, fueled by strong winds, continue to burn.
“Hurricane-force winds sent flames ripping through neighborhoods filled with multi-million-dollar homes,” AccuWeather Chief Meteorologist Jonathan Porter said. “The devastation left behind is heartbreaking, and the economic toll is staggering.”
“Tragically, lives have been changed forever in just a matter of minutes. Many families may not be able to afford to rebuild or repair and return. Businesses may not be able to recover, and jobs will be permanently lost. Thousands of people are in desperate need of help, initially the basic and life-sustaining needs of food, water and shelter, as this tragedy unfolds,” Porter said.
“The recovery process will be extremely expensive and emotionally challenging in the months and years to come,” he added.
The grim calculation eclipses the $210 billion (adjusted for inflation) in estimated damages and economic losses from Hurricane Sandy, which battered New Jersey and New York in 2012, AccuWeather meteorologist Marshall Moss told The Post.
The damage and economic losses of the LA wildfires have also surpassed 2017’s Hurricane Harvey ($230 billion) and 2024’s Hurricane Helene ($225-250 billion).
The 2023 Maui wildfires, which killed more than 100 people, had estimated damages and losses of between $13 and $16 billion.
AccuWeather’s estimate factors in homes and business damaged, infrastructure damage, costs of rebuilding and relocating people whose homes were destroyed. It also includes cleanup costs, emergency response expenses and immediate and long-term health costs for victims affected by the fires.
The number also considers lost wages and housing displacement for tens of thousands of workers and business owners who were forced to evacuate, which could lead to layoffs and business closures, AccuWeather said.
Wildfires began burning in LA County last Tuesday and quickly exploded out of control as Santa Ana wind gusts of up to 100 mph from the mountains pushed the flames toward the sea.
At least 25 people have died.
The strong winds continued this week — but are expected to change directions this weekend, improving fire conditions and giving firefighters a chance to finally contain the blazes, Fox Weather Meteorologist Marissa Lautenbacher told The Post.
Winds on Friday are expected to shift from the east, where dry air has been blowing in from the mountains inland, to the west, bringing in moist air off the Pacific Ocean.
“Because we’re getting the wind flipped from being from more of a drier land mass to more of over the ocean, that brings with it moisture. So essentially the moisture, it’s going to be more and more difficult for any sort of climate fires to start,” she said. “It’s going to be way better for firefighting conditions.”
The largest fire, the Palisades Fire, has burned more than 23,700 acres and is only 19% contained as of Wednesday morning.
While thousands of Angelinos deal with the loss of their home — or are waiting anxiously to see if their home might be next — Congress has not decided whether or how to provide supplemental assistance to the Golden State.
House Speaker Mike Johnson said Monday that California shouldn’t receive a blank check from the feds for emergency said.
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