Five feared dead, over $52 billion worth of property d£stroyed as wildfire ravages Los Angeles, USA.

Damages and economic losses from the Los Angeles wildfires are expected to hit between $52 billion and $57 billion, making it one of the most expensive natural disasters in U.S. history—and possibly the costliest wildfire ever, according to AccuWeather Inc.

The fires have devastated Santa Monica and Malibu, burning through areas with median home values of over $2 million.

At least five lives have been lost, nearly 2,000 homes and structures have been destroyed, and more than 130,000 residents have been forced to flee.

The crisis began on Tuesday afternoon, as powerful winds in Pacific Palisades fuelled the flames and triggered rapid evacuations.