Apocalyptic and deadly fires continue to rage across Los Angeles, with more than 180,000 residents under evacuation orders and thousand of buildings destroyed.
J.P. Morgan analysts predict the insured losses around $10 billion. Meanwhile, AccuWeather is estimating the damage and economic loss to be between $52-$57 billion.
"This is already one of the worst wildfires in California history," says AccuWeather Chief Meteorologist Jonathan Porter. "Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss."
"Value lost due to property damage is dependent on the home's original value and the level of destruction," explains Realtor.com® senior economic research analyst Hannah Jones.
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