THE UNITED STATES IS EXPERIENCING THE MOST EXPENSIVE NATURAL DISASTER IN ITS HISTORY

Most Expensive Disaster: Fires in Los Angeles may become the most expensive natural disaster in U.S. history, potentially the costliest fires ever.

Economic Losses: Estimated losses range from $52 billion to $57 billion, including property damage and other economic impacts.

High-Value Properties: Fires destroyed expensive homes in areas like Santa Monica and Malibu, where the average home value is over $2 million.

Spreading Fires: Strong winds spread the fires, destroying more homes.

Comparison to Past Disasters:

Hurricane Katrina (2005): $200 billion in damages (most expensive so far).

California Wildfires (2018): $30 billion in damages.

Long-Term Impact:

Health issues from toxic smoke.

Negative effects on tourism in the region.

Record Risk: If more buildings are destroyed, this could become California’s worst wildfire in terms of damage and costs.