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.

"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

"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.