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 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.

Crystal and his wife Janice had lived in the home since 1979. The Pacific Palisades home Billy Crystal and wife Janice have lived in since 1979 has burned down amid the wildfires raging across Los Angeles County.

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

"Words cannot describe the enormity of the devastation we are witnessing and experiencing," Billy and Janice Crystal said. "We ache for our friends and neighbors who have also lost their homes and businesses in this tragedy.

Billy and Janice Crystal are mourning the loss of their home of more than four decades after it was destroyed by one of the Los Angeles wildfires. In a statement to People, the Monsters, Inc. star confirmed that his home in Pacific Palisades,