The most destructive wildfires in Los Angeles history Thursday have burned more than 27,000 acres, destroyed 1,000 structures, killed five people and upended the lives of tens of thousands of people forced to flee.

With strong winds, dry conditions and no immediate end in sight, analysts project total economic losses of $50 billion to $150 billion.

Out-of-control wildfires are ripping across parts of Los Angeles, leading to at least five deaths, burning down hundreds of buildings, and prompting more than 130,000 people to flee their homes in America's second-largest city.