Is Hollywood Driving Up Los Angeles’ Rental Market?
For many aspiring actors, filmmakers, and entertainers, moving to Hollywood is the first step to pursuing their dreams. The glitz and glamor, the beautiful weather, and the endless opportunities have been driving young people seeking entertainment careers to Los Angeles since the Golden Age of Hollywood. City Watch LA has an interesting article on how these newcomers drive up LA rentals even as old timers exit the industry and move away.
Unlike some of the other high-rent cities such as San Fransisco or New York City, Los Angeles apartment rental prices aren’t driven up by demand due to a lack of space. Whereas San Fransisco and Manhattan are hemmed in by water, Los Angeles seems to sprawl endlessly without a rhyme or reason to its planning. Then what is driving LA’s high rental prices? Read the full article here: http://www.citywatchla.com/lead-stories-hidden/6125-hollywood-s-revolving-door-pushes-la-s-housing-market-skyward