Rebuilding homes damaged in California wildfires could cost $65B: report

October 12, 2017 06:10PM

Wildfires are devastating Napa Valley and Santa Rosa and the cost of completely rebuilding homes there will be daunting. Nearly 172,000 homes in Napa Valley and Santa Rosa are in the line of fire in Northern California, with roughly 11,000 facing significant damage, according to a CoreLogic study reported by the Wall Street Journal. Rebuilding the homes from scratch would cost a whopping $65 billion, according to CoreLogic. Average homes in the Napa and Santa Rosa metro cost about $599,000 — far greater than the country’s average of $201,900 — according to Zillow. The fires spreading through Northern California have already claimed the lives of at least 15 individuals and destroyed much of the wine region. [WSJ]