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Wildfires threaten houses worth a total of $28 billion: Analysis

Wildfires threaten houses worth a total of $28 billion: Analysis

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.