The LA wildfires created both terrible damage and huge opportunities for local businesses, and many are already rising to the challenge, awaiting a rebuilding boom.

The ongoing disaster will affect residents’ health, local industries, public budgets and the cost of housing for years to come.

Devastating fires are likely to put modest pressure on the US national economy in the near term but are unlikely to derail strong forward momentum.

The most straightforward component of damage is the number of structures damaged or destroyed, currently about 12,000. That's fewer than the 18,000 felled by the Camp fire in Northern California in 2018,