California fires risk $18bn property reconstruction cost

The Camp and Woolsey fires in Northern and Southern California are putting 48,390 homes at high or extreme risk of wildfire damage with a total reconstruction cost value (RCV) of approximately $18 billion, according to data provider CoreLogic.

Of the total homes at high and extreme risk, 31,394 are at risk from the Camp Fire as of Nov. 11 with estimated reconstruction cost of $7.28 billion, according to CoreLogic estimates. The Camp Fire is located in Northern California near and around Paradise and Chico.

The Camp Fire has a size of 117,000 acres and is contained to 30 percent as of Nov. 12, according to the California Department of Forestry and Fire Protection (Cal Fire). So far, 6,453 single residences have been destroyed.

Another 16,996 homes are under high and extreme risks from the Woolsey Fire with a reconstruction value of $11.04 billion, according to CoreLogic. The Woolsey Fire is located in Southern California near and around Thousand Oaks and Malibu.

The Woolsey Fire has burned 93,662 acres and is contained 30 percent as of Nov. 12. So far 435 structures have been destroyed, according to Cal Fire.

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