As homeowners start to looking at rebuilding after the wildfires, new research shows it’s likely to cost more and take longer. That’s because of the COVID-19 pandemic.
Property information service CoreLogic has released a new 2020 Wildfire Risk Report. It shows what it could cost, to rebuild homes in Oregon. “When we have thousands of homes, and businesses that burn, it can cost a tremendous amount to rebuild those and make people whole,” said CoreLogic Wildfire Senior Product Manager Shelly Yerkes. She says Clackamas, Washington and Marion Counties could face tens of billions of dollars in repair costs.
“The Riverside, the Beachie Fire, the Lionshead Fire, encroaching upon these more populated areas, that could take out thousands of homes and cause billions of dollars worth of damage,” Yerkes said.
She warns that COVID-19 is making the rebuilding even tougher this year. “Now we’ve got thousands of properties in Oregon that have burned, and supply chains have been interrupted due to COVID, and so it could take longer for materials to even reach contractors. This is going to be very interesting to see how these supply chain disruptions and the labor squeeze contribute to a more lengthy rebuilding process,” Yerkes said.
CoreLogic’s new research shows more than six percent of the homes in Oregon, Washington and California are at risk from wildfires.