This is the first estimate Ive seen regarding cost estimates due to damage from riots.
I am surprised at the low estimate. I expect this figure to be much higher when all is said and done.
Yes, the total probably will be higher when it's all added up, but even this total is only talking about the very short period of 5/26 - 6/8. The "riot costs" get the headline, but it completely discounts all that has happened in the intervening 3-plus months.
In the end, though, the direct property destruction costs will be absolutely dwarfed by both direct costs and the costs of lost opportunity. There are portions of cities that had riots 40 years ago where the area still hasn't recovered to where it could/should be. Any richer area, that is desirable, has the means to recover quite nicely. But all these riots destroying poorer areas and eroding trust in the area will hamper the economies of the areas for years or decades to come.
So riots cheered on and, in some cases even started by, leftists will end up harming the most vulnerable areas and citizens. Like many of the left's policy prescriptions, encouraging or fomenting these riots will hurt most those who are supposedly going to be helped by them. Uncounted billions in lost wealth and opportunity. I guess they decided to pick up where red-lining left off.
-Samantha Jones, SatC