By Andy Sullivan The Pacific Palisades area ravaged by wildfires in Los Angeles is one of the most expensive neighborhoods in the U.S., home to Hollywood A-Listers and multimillion dollar mansions. And ahead of this week's disaster,

The wind-driven wildfires burning out of control in the Los Angeles area couldn't have emerged at a more perilous moment for California's homeowners, as officials try to rehab what they concede is a deepening "insurance crisis.

This week's fires will only worsen the situation, insurance and real estate experts told Business Insider. "It's like we took two steps forward, then we just took five back," Cali

Street after street, there is little but dark ash and ruin where a wealthy seaside enclave favored by celebrities once stood.

As wildfires roar into residential neighborhoods, firefighters in California and elsewhere are finding that water systems can’t keep up with the demand.

Firefighters are battling to control a series of major fires in the Los Angeles area that have killed five people, ravaged communities from the Pacific Coast to Pasadena and sent thousands of people frantically fleeing their homes.

(structures includes vehicles) - 3 deaths - 4 firefighter injuries - 1,527 fire personnel assigned - Cause of fire unknown - Structure fire encompassed two homes and brush, extended into adjacent brush - Stopped forward progress at just under 1 acre Several homes went up in flames Wednesday as a new wildfire erupted in Studio City.