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

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 L.

A raging Los Angeles wildfire has destroyed thousands of homes, including a home that Billy Crystal said his family filled with love.

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 say. "We ache for our friends and neighbors who have also lost their homes and businesses in this tragedy.