L.A's Housing Crisis Takes a Toll on Entertainment Biz
*By Samantha Errico*
San Francisco and New York get the ink for being outlandishly expensive, but Los Angeles' housing crisis has become so severe that it threatens the very industry on which the city relies.
According to Katie Kilkenny, an associate editor at The Hollywood Reporter, median rental prices in Los Angeles, Calif., have increased by 32 percent since 2000. Some aspiring starlets and starving artists have even resorted to sleeping in their cars.
Kilkenny told Cheddar Thursday that she wasn't surprised people are "starting to craft their own means of living affordably."
As an industry, Hollywood relies on the rags-to-riches mythos. But in this climate, not all hopefuls can afford to stick it out ー unless they resort to extreme measures.
As of January of 2018, over [9,000 vehicles](https://www.hollywoodreporter.com/features/meet-entertainment-workers-living-cars-housing-crisis-1169781) were being used as homes. And car-dwellers are using every corner of their vehicles ー some even included a small kitchen or a lounging area.
"You can spend as much as a house on these vehicles," Kilkenny said. "In order to save money, people are building it out themselves.
"One of the guys that I spoke with, made sure to tell me that he wants to do it for at least the next five years, in order to save up to actually buy a house," she added.
For full interview [click here](https://cheddar.com/videos/working-l-a-actors-turning-their-vehicles-into-homes).
The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide.
Allies of Florida Gov. Ron DeSantis and Disney have reached a settlement agreement in a state court fight over how Walt Disney World is developed in the future.
Ahead of the WNBA season and in the midst of March Madness, New York Liberty CEO Keia Clarke discusses the team’s new deal with Barclays and bringing even more attention to women’s sports.
U.S. Nissan head Jérémie Papin joins from the New York International Auto Show to give a preview of what’s to come from the carmaker – including the 2025 Nissan Kicks.
Ed Mitzen, the CEO of Business for Good, explains how and why he’s giving back by funding businesses from marginalized entrepreneurs to push social change.
Dana D’Auria, co-CIO at Envestnet, breaks down how she’s expecting markets to perform as ‘cracks’ from the rate hike cycle slowly filter into the economy.
A large cargo ship lost power and issued a mayday call moments before it struck the Francis Scott Key Bridge early Tuesday, though it was still moving toward the span at a rapid speed.