Official Flickr Account of CAL FIRE / Handout/Anadolu via Getty Images
Wildfires continue to rage in Los Angeles — and could become the costliest blazes in US history, according to a JPMorgan research note.
JPMorgan analyst Jimmy Bhullar estimated insured losses from the devastating fires in the Palisades area and beyond could total more than $20 billion, "significantly more severe" than the Camp Fires that struck the state in 2018 and racked up $10 billion in insured losses.
"The fires have not been contained thus far and continue to spread, implying that estimates of potential economic and insured losses are likely to increase," Bhullar wrote in the research note.
The LA area battled several fires that continued to rip through its picturesque mountains and hillsides on Thursday — creating a hellscape of burned-out neighborhoods and livelihoods, with nearly 180,000 people under evacuation orders.
Thick bands of smoke could be seen in several directions from the city's downtown core — with at least five fires burning throughout the 4,000 square-mile county that's home to nearly 10 million people.
As of Thursday morning local time, an additional 200,000 people had been placed under evacuation warnings — with officials advising them to get ready to leave their homes if the fires raging near their residences got closer.
More than 27,000 acres have burned so far — and at least five deaths have been reported, officials said. Authorities wouldn't confirm an exact death toll at a Thursday briefing.
They said "thousands" of homes and other structures had been destroyed so far.
Mario Tama/Getty Images
Los Angeles District Attorney Nathan Hochman described the scene in LA as apocalyptic.
"Not since the 1990s, when Los Angeles was hit with the fires, the flood, the earthquake, and the riots, have I seen such disaster occur here in our city," Hochman said at the briefing, referring to the Northridge Earthquake and the disturbances in the wake of the Rodney King verdict.
Two of the largest fires, the Eaton Fire and the Palisades Fire, are still at zero percent containment, officials said. The National Weather Service predicted the "red flag warning" that signals high fire danger will persist for LA County and nearby Ventura County through Friday.
But there was some brightening on the horizon: Officials said weather conditions are beginning to turn favorably for firefighters.
AP Photo/Damian Dovarganes
Meanwhile, 20 people have been arrested on suspicion of looting in areas affected by the fires, Los Angeles County Sheriff Robert Luna said at Thursday's briefing.
And he issued a stern warning to the public: Anyone who remains in areas under mandatory evacuation orders is guilty of a misdemeanor, and his officers will begin enforcing that. Beyond that, crimes like looting could reach the felony level, he said.
As for people still in their homes, around 95,000 power customers remain in the dark, Janisse Quiñones, the CEO and chief engineer of the city's Department of Water and Power, said. Satellite images showed the destruction in the wake of the fires.
Here's a look at the latest happenings in the main fires spreading throughout the area:
Brian van der Brug / Los Angeles Times via Getty Images
The Palisades Fire in the Pacific Palisades area north of Santa Monica was the first fire to strike the region on Tuesday morning. It has spread to over 17,000 acres, with zero percent containment, making it one of the worst natural disasters in LA history, officials said Thursday morning.
The blaze has reduced thousands of structures to rubble, but exact numbers are not yet known, the officials said.
Wind gusts in the area have tamed down some since their Tuesday highs of nearly 100 mph but remain up to 60 mph. They're expected to continue through Thursday.
Los Angeles City Fire Chief Kristin Crowley would not confirm reports that the fire started in a resident's garden, saying the origin is still under investigation.
The affluent area is home to many celebrities, including Paris Hilton and Billy Crystal, who have lost their homes in the blaze.
AP Photo/Ethan Swope
The second-largest fire in Los Angeles County is the Eaton Fire, which started on Tuesday evening in the Pasadena-Altadena area at the foothills of the Angeles National Forest.
The blaze has spread to over 10,000 acres and reduced at least 1,000 homes to ash as of Thursday, officials said. Like the Palisades Fire, it is zero percent contained.
Still, LA County Fire Chief Anthony Marrone said the fire's growth has been "significantly stopped," and the cause remains unknown.
Myung J. Chun / Los Angeles Times via Getty Images
The Hurst Fire, which began late on Tuesday night in the northern part of the San Fernando Valley, has spread to around 855 acres, according to data from CalFire, a state agency.
LAFD's Crowley said the Hurst Fire was zero percent contained, while CalFire data estimates it is 10% contained.
Crowley said firefighters have been able to hold the fire within a containment area and have established a perimeter.
Jason Armond / Los Angeles Times via Getty Images
The Sunset Fire broke out in the Runyan Canyon area of the Hollywood Hills on Wednesday evening, quickly spreading to scorch over 40 acres and threaten major LA landmarks.
As of Thursday morning, firefighters were able to stop the fire's forward progress, Crowley said. Crews are still working to "put out spot fires within the perimeters to keep the wind from spreading any additional embers," she said.
All evacuation orders related to the Sunset Fire were lifted as of 7:30 a.m. Thursday, Crowley said.
Meanwhile, a large structure fire broke out nearby, consuming two large homes in the Studio City area. Still, firefighters were able to stop its forward growth at just one acre and prevent another brushfire, Crowley said.
Yet another fire, the Lidia Fire, started Wednesday afternoon in Acton near the Antelope Valley, about 20 miles northeast of the San Fernando Valley. It spread to consume 348 acres but has been 40% contained, with forward progress stopped, county fire chief Marrone said.
One of this week's fires has been 100% contained. The Woodley Fire, which began Wednesday morning in the southern part of the San Fernando Valley, has been suppressed and there are no current threats, Crowley said. Patrols are monitoring the area for any flare-ups, she added.
This a developing story. Please refresh for updates.
