The January wildfire in Pacific Palisades caused significant devastation, with homes valued at $51.7 billion prior to the fire. Nearly 100 homes had values exceeding $20 million. The report does not represent actual fire losses, as many homes survived. The wildfires burned over 43,000 acres, destroyed over 16,000 structures, and resulted in 31 deaths. While estimates indicate economic losses could reach $250 billion, the California Insurance Department reported $17.1 billion paid for fire claims.
The January wildfire devastated the Pacific Palisades, with homes there valued at $51.7 billion pre-fire. Nearly 100 homes were valued over $20 million.
The fires burned over 43,000 acres, destroyed over 16,000 structures, and led to 31 fatalities within 3.5 weeks, creating a significant loss.
According to Redfin, many of the homes included in the report survived the fire, and the reported values do not account for commercial properties.
Cotality estimated that insurance losses from the fires amounted to $35 to $45 billion, while actual claims filed reached $17.1 billion by May.
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