T
he estimated economic damage from last week's L.A. County firestorms ranges widely, from $36 billion to a staggering $275 billion. While some forecasters caution against premature estimates, others have made bold claims about the financial toll of the disaster. AccuWeather, in particular, has drawn attention with its estimate of between $250 billion and $275 billion in damages - a figure that's up to four times higher than other estimates.

    AccuWeather's chief meteorologist, Jonathan Porter, warned that many families will face significant costs to relocate and rebuild, making the recovery process "extremely expensive and emotionally challenging." However, local economists have dismissed AccuWeather's numbers as overly optimistic. Chris Thornberg of Beacon Economics estimated the cost of repairing 12,000 structures at $3 million each, totaling $36 billion, while Mark Schniepp of The California Economic Forecast believes it's too early for credible estimates.

    J.P. Morgan initially estimated damages at $10 billion, then doubled it to $20 billion before revising its estimate to $50 billion. Columnist Jonathan Lansner questioned the accuracy of these estimates, given that the flames are still not fully extinguished. Cal Fire admitted that its initial estimates were rough guesses based on aerial assessments and ground verification.

    As the recovery process begins, experts agree that the economic impact will be significant, with cleanup, reconstruction, and relocations driving business activity in the affected areas. Thornberg noted that past disasters have shown a temporary dip in employment and consumption followed by a surge in economic activity fueled by recovery spending.