Billy and Janice Crystal are mourning the loss of their nearly 50-year-old Palisades home that was reduced to ashes by the Los Angeles fire. The actor confirmed the news in a statement to PEOPLE on Wednesday as Palisades wildfires continue to wreak havoc in LA County.

Billy Crystal and his wife Janice revealed on Wednesday, Jan. 8 that their home of 46 years in the Pacific Palisades burned down due to the ongoing fire ravaging the west side of Los Angeles.

Billy Crystal has confirmed that the Pacific Palisades home he's lived in with wife Janice since 1979 has burned down. "Words cannot describe the enormity of the devastation," the actor commented.

Billy Crystal and his wife Janice have lost their home of more than four decades to the Pacific Palisades fire. In a statement shared with CNN, Crystal confirmed their house burned down as a result of the now 15,

Fires burning in and around Los Angeles have claimed the homes of numerous celebrities, including Billy Crystal, Mandy Moore and Paris Hilton and led to sweeping disruptions of entertainment events. Three awards ceremonies planned for this weekend have been postponed.

Sir Anthony Hopkins, John Goodman and Miles Teller are the latest celebrities to lose their homes in the Palisades wildfires.

As at least four wildfires rage around Los Angeles, numerous members of the Hollywood community have been impacted, including Mandy Moore, Anna Faris and Ricki Lake.

The Los Angeles wildfires have caused several stars to lose their home including When Harry Met Sally actor Billy Crystal, who lived at his for over 40 years.