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Though Tragic, CA Fires Won't Affect Economy

SAN DIEGO-Despite the normal short-term economic slowdown that follows most disasters, local, regional and statewide economies should not suffer any long-term ramifications.

By Nellie Day | Updated on October 24, 2007

SAN DIEGO-Though the 16 fires that are engulfing San Bernardino, Riverside, Los Angeles and San Diego counties will produce devastating short-term effects for many home and business owners, the economy will apparently be granted a reprieve.

For many homeowners, the situation went from bad to worse. Not only was the single-family housing market in a slump, but some of the 881,500 Southern California residents currently evacuated will return in the next few days to find that their homes are among the 1,155 (as of Wednesday morning) that were destroyed.

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