The Los Angeles wildfires are set to be the costliest blaze in U.S. history, analysts said Thursday, as the first initial estimates of damage from the infernos soared with their unchecked spread. Total economic losses from the fires are now pegged at close to $50 billion,

LA wildfires, including massive Palisades and Eaton fires, continue to devastate the region with zero containment. Damage could total $50 billion.

Analysts estimate economic losses at more than $50bn as the fires burn through some of the most expensive property in the US.