**Devastating Hurricane Milton Threatens to Unleash $175 Billion in Damages**
As Hurricane Milton barrels towards Florida, experts warn of a potentially catastrophic impact, with damages estimated to reach a staggering $175 billion or more in a worst-case scenario. This would be in addition to the destruction already caused by Hurricane Helene, which left behind an estimated $11 billion in losses just 12 days ago.
Leading analysts predict that a direct hit on the heavily populated Tampa region could result in mid-double-digit billion-dollar losses, with some estimates suggesting a 1-in-100-year event could lead to $175 billion in losses. A landfall closer to Fort Myers, however, could reduce the damage to around $70 billion.
For context, Hurricane Ian, which hit near Fort Myers as a Category 4 storm two years ago, left behind over $50 billion in losses. Milton, currently at Category 4, could weaken before making landfall, but its potential impact remains dire.
Wells Fargo estimates potential damages ranging from $10 billion to $100 billion, with the market already factoring in losses exceeding $50 billion. Moody’s, which estimated Helene’s damages at $11 billion, has yet to provide a figure for Milton, but notes that many affected areas lack flood insurance, leaving most of the damage uninsured.
As Milton approaches, residents of Tampa and surrounding areas are bracing for the worst, with storm surges expected to reach 10-15 feet and winds of up to 145 mph predicted. While the danger is immense, the storm’s impact is not expected to extend to neighboring states, unlike Helene.
The full extent of the damage remains to be seen, but one thing is clear: Hurricane Milton has the potential to unleash unprecedented destruction, and Floridians are urged to take immediate action to prepare for the worst.
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