Thousands of Angelenos who lost their homes in some of the most destructive wildfires in California history find themselves in fierce competition with one another for an affordable place to live in Los Angeles' post-disaster housing market.

Analysts at Goldman Sachs warn that the recent fires in Los Angeles County could become the most costly in California's history. Losses might reach up to $40 billion, placing these fires among the 20 most expensive natural disasters in the U.

Analysts at Goldman Sachs warn that the recent fires in Los Angeles County might become the most costly in California's history. Losses could reach up to $40 billion (€38 billion), making it one of the 20 most expensive natural disasters in the US relative to GDP.

Although the cause of each blaze has yet to be determined, they all burned in or near foothill communities amid gusty winds and dry air and vegetation.

Updating maps of Southern California show where wildfires, including the Palisades and Eaton fires, are burning across Los Angeles.

If the insurance industry stops writing policies for California homes, it will ultimately hit the mortgage industry.