A
s Southern California's catastrophic wildfires continue to rage, some Los Angeles residents are fleeing the city for good, seeking refuge in the Northeast. Real estate mogul Ryan Serhant reported that his firm has received a surge of calls from clients interested in relocating to the East Coast, with many opting for states like Connecticut, New Jersey, and Florida.

    Serhant noted that the wildfires have been the "final straw" for some, prompting them to leave California behind. This trend is not new; people have been leaving the state in droves since the COVID-19 pandemic began, with data from moving companies showing more people are leaving than arriving.

    U-Haul reported that 51% of one-way traffic out of California was outbound, while only 49% was inbound. The exodus comes as firefighters battle multiple blazes, including a new wildfire in Ventura County that forced crews to tackle flames in an agricultural area.

    The Palisades Fire, which has killed at least 24 people and scorched over 40,500 acres, remains just 17% contained after a weeklong battle. Strong Santa Ana winds are expected to continue through midday Wednesday, creating a "particularly dangerous situation" for new conflagrations to erupt.

    Fire crews have been relying on a bright pink-red fire retardant called Phos-Check to smother the flames, with thousands of gallons used over the past week. The substance is 80% water and has been used to fight blazes since 1963.

    AccuWeather raised its estimate of fire-related economic losses to between $250 billion and $270 billion, while J.P. Morgan analysts projected insured losses could climb as high as $20 billion. California's insurance crisis worsens with each passing day, leaving many homeowners without coverage in fire-prone areas.