Housing construction permits were already trending downward. Now the wildfires in Los Angeles have taken away at least 10,000 occupied homes.

California is requiring that all new cars must be zero-emission vehicles by 2035. Before leaving office, President Joe Biden set a national goal to have half of the new cars and trucks sold nationwide by 2030 have zero emissions.

Shortages in labor and materials will add to strain in rebuilding communities affected by wildfires in Los Angeles.

The number of Americans filing for unemployment benefits rose slightly last week, yet labor market conditions remain stable. The Federal Reserve is expected to maintain interest rates due to minimal stress in job markets.

With the fires in Los Angeles still burning, the cost of their destruction, beyond the lives lost, remains unknown, but is certain to total in the tens of billions of dollars.

For CD rates to stay the same in 2025, the current economic conditions would have to remain steady in terms of a variety of factors, including "steady inflation rate, balanced economic growth, stable employment levels, the Fed remaining neutral on its monetary policy, and no surprises in the economy," says Chitrathorn.

Neither the state nor local government seems to have learned much from the perils of pricing the less privileged out of Los Angeles's safe zone.

Jobless claims applications ticked up modestly last week, but the total number of Americans collecting unemployment benefits rose to their highest level in more than three years.

The number of Americans filing new applications for unemployment benefits rose marginally last week, suggesting no deterioration in labor market conditions and reinforcing expectations that the Federal Reserve would not cut interest rates next week.

Track the market's reaction to President Donald Trump's speech in Davos, Switzerland, as well as corporate earnings and other developments on Thursday.

The wildfires sweeping through Los Angeles County communities have destroyed at least 10,000 homes so far and more are in the path of still-uncontrolled flames. Obviously the loss of so many

Shortages of skilled labor, building materials and expensive construction loans are just some of the factors affecting the cost of rebuilding.