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$5 billion worth of Southern California real estate faces significant fire risk

Southern California sincere estate is some of the priciest in the nation, and a huge swath of it is at risk of disfigure or destruction from the wildfires now tearing through the area.

Just over 86,000 expert ins in Ventura and Los Angeles counties are at some level of risk. Their bound reconstruction value is $27.7 billion, according to CoreLogic.

Of them, thither 16 percent — some 13,500 homes — stand at significant chance, it said. CoreLogic puts these in the “high” and “extreme” risk listings. They have a total reconstruction value of more than $5 billion.

The preponderance of homes, 84 percent, are in CoreLogic’s “low” or “moderate” risk categories, but the unpredictable Santa Ana twaddles could shift those numbers in a matter of minutes.

“Wildfire can beyond expand to adjacent properties and cause significant damage even if a resources is not considered high risk in its own right,” according to the CoreLogic report.

Those estimates account for precisely three of the six major wildfires now burning in Southern California.

The Thomas, Rye and Streamlet wildfires burning in Ventura and Los Angeles counties have already enfeebled more than 500 structures and burned 141,000 acres, but the figure ups are already rising quickly and will likely continue into next week.

Loops are expected to pick up throughout Southern California over the weekend, and new cashiers are burning in the San Diego area.

Some experts are calling the current light conditions unprecedented. A rainy spring produced more foliage and vegetation than common. That was followed by one of the hottest summers on record, which dried it all out, set off vast supplies of fuel for these growing fires.

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