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.

A recent rule change could cause a spike in insurance premium for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in the past.

California's Fair Plan, the state's insurer of last resort, may be unable to pay billions in claims arising from the Los Angeles fires and may require a bailout that could ultimately be paid by homeowners statewide.

Changes in California's Fair Access to Insurance Requirements (FAIR) plan could mean higher expenses for homeowners after fires.

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

JPMorgan Chase and Bank of America have programs offering mortgage relief to homeowners impacted by the California wildfires.