LOS ANGELES | Hollywood Palladium Residences (2 towers) | 28 FLOORS

[samoen313]

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.

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.

[liat91]

Originally Posted by samoen313

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.

Let’s be honest. LA of today would be very downsized if it weren’t for the lure of Hollywood.

Granted, things are self sustaining now and the weather is still great, but the downsides are too glaring.

Considering the population, there is a small ultra liberal cabal backside running the state. For all intents and purposes, moderate immigrants and/or their kids should be running the show.

[mrnyc]

there must be a dozen massive new film studios opening or being built around the nyc metro currently, including one i just saw for AI support in an old factory complex in patterson, which i thought was interesting when i read about it. the point being competition has also got to be eating away at traditional hollywood, or soon will be.

[Zerton]

Originally Posted by liat91

Let’s be honest. LA of today would be very downsized if it weren’t for the lure of Hollywood.

Granted, things are self sustaining now and the weather is still great, but the downsides are too glaring.

Considering the population, there is a small ultra liberal cabal backside running the state. For all intents and purposes, moderate immigrants and/or their kids should be running the show.

I don't think you can underestimate the allure of 70F basically every day.

[kittyhawk28]

Originally Posted by liat91

Let’s be honest. LA of today would be very downsized if it weren’t for the lure of Hollywood.

Granted, things are self sustaining now and the weather is still great, but the downsides are too glaring.

Considering the population, there is a small ultra liberal cabal backside running the state. For all intents and purposes, moderate immigrants and/or their kids should be running the show.

LA grew predominantly because of the aerospace industry, which was the region's primary economic drive, not the entertainment industry, between WW2 until the 1990s. When the Cold War ended, SoCal was the most hard hit region in the early 90s recession as aerospace employment plunged; almost 60% of national job losses between 1990-93 were in SoCal alone, and unemployment rates reached over 10% in LA. Many media pundits in the early 90s predicted LA as the new Detroit (sound familiar?). Heck, entertainment didn't overtake aerospace in employment until 1993: NYT.

3 decades later, and LA is in another transition period again, except this time it seems to be a reversal of the 1990s trend. Film industry has shed 40K jobs
between 2022-24, while aerospace/defense industries in SoCal have boomed, with billions of dollars of investments into new factories and engineering facilities in SoCal that added over ten thousand new jobs in the same timeframe. Considering the aerospace/defense workforce is a lot less liberal than movie industry people, if this trend continues, SoCal, and the state as a whole, will likely moderate more and more to the right.