*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 House of Representatives recently passed a bill aimed at increasing transparency in healthcare.
If you have a flexible spending account, here's some short information for you so you don't leave money on the table.
With high healthcare costs, bills can quickly add up. In some cases, it is possible to negotiate your medical bills. Barak Richman, law professor at George Washington University, joined Cheddar News to discuss the easiest way to talk to medical debt companies about what's owed.
Millions of people have selected insurance plans for 2024 but sometimes navigating them can be tricky time consuming and expensive. Paula Pant, host of 'Afford Anything' podcast, joined Cheddar News to break down what's needed to know about their insurance plans.
The European Union is investigating Elon Musk's X over alleged illicit content and disinformation on its platform. Cheddar News breaks it all down and discusses what it could mean for users.
Adobe and Figma called off their $20 million merger, Southwest Airlines gets fined, Nippon Steel is buying U.S. Steel and oil and gas prices surge after a pause in shipments.
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Japan's Nippon steel is buying U.S. Steel for $14.9 billion.
Southwest Airlines will pay a $35 million fine as part of a settlement over a 2022 holiday season disaster that saw the airline cancel thousands of flights and leave millions of people stranded.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Load More