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A neighborhood leveled by wildfires in Santa Rosa, California. Photo: Marcio Jose Sanchez / AP

California authorities have raised the total number of homes and buildings destroyed to 14,700 as damage assessments from the deadly wildfires continue. The cost of insured damage is expected to top $3 billion, up from an earlier estimate of $1 billion, CNBC reports.

The big picture: The blazes were fully contained about two weeks after they started burning, but the process of rebuilding entire neighborhoods in Sonoma County will extend long beyond that.

The numbers:

  • "Tens of thousands lost everything in what has proven to be the deadliest and one of the most costly set of wildfires in our state's history," California's insurance commissioner told reporters, per CNBC.
  • The total death count has risen to 42. A single Sonoma County fire — the Tubbs — killed 22 people, which makes it the third deadliest in state history, NBC reports.
  • The Tubbs fire alone destroyed 5,300 homes — more than any other California fire in history.
  • In total, 14,700 structures, 728 businesses and 271,000 acres have burned.
  • At the peak of the fires, classes were canceled for 260,000 students at 600 schools, per KQED.

Go deeper

Updated 18 mins ago - Sports

Experts predict major boom for North American sports stadiums

Rendering of the $375 million Moody Center on the UT-Austin campus. Photo courtesy of Moody Center

Stadium and arena construction in North America will total a relatively tame $5.8 billion this year, a 12% decrease from 2021.

The big picture: What the industry lacks in construction it expects to make up for in design, with experts predicting a sports venue boom over the next half-decade, SBJ reports.

Updated 19 mins ago - World

UK government: Kremlin has plan "to install pro-Russian leadership" in Ukraine

British Foreign Secretary Elizabeth Truss. Photo: Gints Ivuskans / AFP via Getty Images

The United Kingdom's Foreign Secretary on Saturday night said the government has "information that indicates the Russian Government is looking to install a pro-Russian leader in Kyiv as it considers whether to invade and occupy Ukraine."

The latest: “I can’t comment on specific pieces of intelligence. But we’ve been warning about just this kind of tactic for weeks and we’ve spoken to that publicly," Secretary of State Antony Blinken said Sunday. The Biden administration has said Russia is actively manufacturing a pretext for invasion and warned that Putin could use joint military exercises in Belarus as cover to invade from the north.

Updated 1 hour ago - Economy & Business

Student debt getting in the way of millennial homeownership

Illustration: Aïda Amer/Axios

Millennial homeownership is on the rise — but student loan debt is still keeping millions of members of America's largest generation from owning a home.

Why it matters: Buying a house remains the No. 1 way to build wealth in the U.S.