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Originally Posted by Zapatan
They were never moving in the first place lol, at least not recently.
What happened with the entertainment industry? In any case there are lots of reasons to live in LA aside from that.
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Pandemic, writer/actor/crew strikes, studio consolidation, insufficient tax breaks, wildfires...a very significant amount of filming and production has moved overseas to London, Sydney, NZ, etc. Film in particular has been hit very hard.
There's always other industry around, but the health of central LA and Hollywood is heavily tied to "the industry." Less so across the region as a whole, but the slump has had a domino effect everywhere.
It will pick up again, but in the short term, there are few starts outside of infill and medium/low-rise redevelopments. I work in architecture here and the focus is entirely on fire rebuilds, 20-100 unit multifamily as well as adaptive reuse.