$52 Billion Cost Would Rank LA Fires Among Worst US Disasters

A preliminary estimate of the financial impact of the Los Angeles blazes ranks the incident among the costliest ever natural disasters in the US, and likely the nation’s most expensive ever wildfire.

Blazes burning around Santa Monica and Malibu are consuming some of the most pricey real estate in the US, affecting areas where the median home value is more than $2 million, according to AccuWeather Inc. The disaster will likely cause between $52 billion to $57 billion in damage and economic loss, the company said.

Fires fanned by hurricane-force wind gusts may spread flames deeper into these neighborhoods destroying ...