Wildfires threaten houses worth a total of $28 billion: AnalysisPosted On: Dec. 8, 2017 2:39 PM CST
Homes with a reconstruction cost value of $27.7 billion are in danger from the recent wildfires in California, according to modeling firm CoreLogic Inc.
A total of 86,242 homes in Ventura and Los Angeles counties “are at some level of risk from the Thomas, Rye and Creek Wildfires,” Seacaucus, New Jersey-based CoreLogic said in a statement Friday.
The $27.7 billion combined total reconstruction cost value, which accounts for geography, labor and materials, assumes 100% destruction, Corelogic said.
Of the homes at risk, about 16%, with an estimated total reconstruction cost of more than $5 billion, are at “significant risk of damage,” Corelogic said
And although the remaining 84% of homes are at “low or moderate” risk of damage, “wildfire can easily expand to adjacent properties and cause significant damage even if a property is not considered high risk in its own right,” the statement said.