On this day in 1987 – A fire destroyed Tom Petty‘s house in Los Angeles, the cost was estimated at $800,000. Petty and his family escape unharmed, but are traumatized by the blaze, which is determined to be arson. The perpetrator is never caught. Petty is in the house with his wife, daughter and housekeeper around 10 a.m. when his daughter notices the flames.