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).
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
Boeing continues their terrifying trend of having their planes fall apart mid-flight, inflation — checks notes — is still up and the future of AI looks terrifying. Cheery!
Food waste – uneaten scraps or leftovers sent to landfills – is responsible for 10% of global emissions. Mill, a new product from the co-founder of Nest, thinks technology can play a role in eliminating it.
By the time the 2024 election is over, be prepared to see some form of a recession – but this shouldn’t be as bad as what we experienced in 2020 or 2008.