Unlike the hurricanes, these fires are covered by insurance companies. Insurance companies will be on the hook for $2 to $5 billion dollars. But fire insurance only covers structures, not the charcoal covered land. So the payouts won’t cover the full cost of people’s loss, unless they are willing to rebuild on the same property. I expect some will walk away from their remaining mortages.
Warning: we had a huge fire in our area a few years ago and most people left. They were replaced by the commercial marijuana farmers (CARTELS) who bought the newly cleared land for pennies on the dollar. It can happen to you. Totally sucks.
And you have to have insurance yourself. We have no house insurance, can’t afford it (no mortgage). So....if our place burns, we’re SOOL. OR in surrounded by national forest that often burns.
And the charred ground is horrible, smells like fire for years.