Economy

Lahaina Wildfire Damage Could Reach $1.3 Billion

BIMKA1 / iStock via Getty Images

Investigators and medical crews have sifted through the damage of the Lahaina wildfire and will continue to do so for weeks. The death toll could reach 200. On a less critical note, one expert firm says residential housing has been hit for as much as $1.3 billion. (These 20 states are being destroyed by natural disasters.)
[in-text-ad]
CoreLogic recently reported that 3,088 residential properties were destroyed. The total replacement value of these is $1,277,888,641. Among the things residents will need to deal with is whether they had adequate insurance, if they had insurance at all. The government may help fund some rebuilding.

The cost of climate change has become more evident by the day, based on better and more sophisticated analyses. And the price tag continues to climb steadily. Wildfires are part of this equation. In the United States, other significant factors are flooding, tornados, hurricanes and drought. Much of the nation, particularly the West, constantly struggles with drought, which helps keep the frequency and deadliness of wildfires growing.


Hurricane season has started in earnest. That puts states from Texas to Florida to Connecticut at risk. Not only are the storms more frequent, but they are more powerful. The next few months will show if the trend of increasingly stronger storms continues.


Finally, the climate crisis effect most in the news recently is temperature. It rounds out the picture of a grim year for many Americans.

Get Ready To Retire (Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Get started right here.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.