The LA fires could be the costliest in US history

Firefighters in Los Angeles are attempting to gain more ground against deadly and destructive wildfires, as the ongoing battle enters a seventh straight day on Monday.

The current situation: The two largest blazes in the area are the Palisades and Eaton fires, which stood at 11% and 27% containment yesterday, respectively, as firefighters received a brief respite from near-hurricane-level winds.

• Progress was quicker for other smaller fires, including the Lidia fire (100% containment), Hurst fire (76%), and Kenneth fire (90%).
• 105,000+ local residents were still under evacuation orders as of yesterday evening.

Damages continue to climb

The official death toll rose to 24 people as of Sunday evening, with at least 16 others currently missing – though both numbers are expected to rise. Overall, the fires have damaged or destroyed 12,000+ homes, businesses, and other buildings, per local authorities.

• The economic losses thus far are projected in the tens of billions, making it very likely the costliest wildfire in modern US history, according to separate reports from AccuWeather, Moody’s, and Aon PLC.
• The costliest fire in US history is the 2018 Camp Fire in Paradise, California, at an inflation-adjusted ~$12.5 billion.

👀 Looking ahead…Strong winds are projected to resume blowing in LA this week and worsen the blazes. The National Weather Service has issued red flag warnings for severe fire conditions in Los Angeles through Wednesday, with sustained winds of 50 mph and gusts up to 70 mph.