What Would a Devastating Earthquake in California Look Like? An example is the magnitude 6.2 earthquake that hit New Zealand on Feb. 22, 2011, that left physical, economic and psychological aftershocks that continue. The quake redrew the geography of Christchurch, which is flatter and smaller now. Some excerpts:
The Christchurch rebuild is expected to cost $26 billion, according to an estimate by the Reserve Bank, making it New Zealand’s single biggest economic challenge.
“After the earthquake, we all sort of thought — oh, five years and the central city will be back to normal. And it was oh, probably 10. And then 15. And then 20. And so it goes on,”
The economic blow for many was lessened by New Zealand’s high rate of earthquake insurance.