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 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,

"Every inch of our house was filled with love. Beautiful memories that can't be taken away," the couple said of their home in the Pacific Palisades