2/3 of all countries have lower GDP than the value of what is lost to fires in LA this week! (source in comments)

5 comments

1. Source GDP country level: [https://www.worldometers.info/gdp/gdp-by-country/](https://www.worldometers.info/gdp/gdp-by-country/)

2. >In a preliminary estimate, private forecaster Accuweather said it expected losses of between $135bn-$150bn as the blazes rip through an area that is home to some of the most expensive property in the US.

   It is also about the expensive property values. One of the downsides of having housing prices always going up is that the insurance, repair, and rebuilding cost must go up proportionally. Want a solution? Build affordable dense housing, preferably in a decommodified project ([example](https://en.wikipedia.org/wiki/Public_housing_in_Singapore)).

3. This is the same as Tokyo castle being worth more than the entirety of California and half of Africa in 1989

   Inflated property values don’t reflect real economic power

4. Sounds like all those countries need to do a better job!

5. GDP does not include property value, so this is a pretty pointless comparison. Property values in the US are also vastly higher than its GDP.

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