In Northern California, over 170,000 acres – an area larger than the island of Manhattan – were ravaged by 22 wildfires that spread through seven counties, and destroyed 3,500 homes, and incinerated countless buildings.
The cause of the fire that spread through San Francisco’s northern region – an area recognized as one of California’s economic powerhouses – has not yet been established. However, the damage, wreckage, and destruction it caused in this usually highly prosperous region, will result in slashed home prices, scarce availability, and wrecked infrastructure – all factors that need to be considered as displaced homeowners decide whether or not they should return and rebuild, or start somewhere fresh as homebuyers.
As a multibillion-dollar tourist industry, the jobs it provides and the services it offers, will take a long time to recover. Rebuilding the homes, businesses, and schools will likely take up to a decade to complete should residents choose to return.
The average home price for a residence in Napa County alone was $876,200, while the average home price for a residence in neighboring Sonoma County was $750,000. But after the fires, and with more than 172,000 homes gone in the blaze, it will cost an estimated $65 billion or more to rebuild them.
In all, the tremendous scope of the disaster is something that Californians will need help to processing.