How the California Fires Are Remaking the L.A. Economy

The wildfire in Los Angeles turned Toscana into a ghost town, devastating homes, businesses, and the economy, forcing closures, displacing thousands, and leaving long-term uncertainty as rebuilding could take over five years.

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*Source: https://www.wsj.com/business/hospitality/how-the-california-fires-are-remaking-the-l-a-economy-7c9e2080

Due to the fire in Los Angeles, a town called Toscana, became a ghost town. The wildfires have destroyed houses, buildings, damaged the economy, and left the town in ruins. Businesses and people were now losing their hopes due to the wildfire. The economic effect of the wildfire was dramatic, as the economy of California is ranked higher than Switzerland’s economy. Moreover, major businesses such as Diseney or several businesses were damaged, because the rate of customer visits dramatically decreased after the wildfire. The International Alliance of Theatrical Stage Employees states that over 5,000 people were in the fire and evacuation zones. In fact, 300 members lost their homes.

Businesses in Toscana had to shut down their businesses. All businesses, whether it was a restaurant, or a store, lost their customers due to the wildfire. Moreover, the rebuilding of the destroyed houses and the neighborhoods might last over five years according to an economist at the University of Southern California. The result of the fire left thousands of people uncertain about whether the neighborhood they lived in would be the same as before.