With #Palisades and #Eaton #wildfires just 27% and 55% contained, respectively, the ultimate impact remains unknown. With #homes and #businesses destroyed and families displaced, there will be devastating implications for the local economy, notes @JPMorganAM
#Property values in affected areas will likely fall, although the rising cost of insurance could push prospective homebuyers elsewhere. With #housing supply already limited, this could pressure national #home prices even higher, pushing more Americans into the rental market and further from #homeownership.