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.)
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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.
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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.
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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.
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Finally, the climate crisis effect most in the news recently is temperature. It rounds out the picture of a grim year for many Americans.
Lahaina Wildfire Damage Could Reach $1.3 Billion
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
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