The impact of the Hollywood writers’ strike could touch almost every facet of the economy in Southern California, including the housing market. “It’s going to have a cascade,” one expert said. “People will put off home purchases even further.”
Coming in the midst of the 2007 financial crisis, the strike helped accelerate the onset of recession in California, said Kevin Klowden, lead author of the Milken report.
that devastated the nation, and once the stoppage began in Hollywood, Klowden said, there was a whole sector of the local economy — including some very high-earners — that abruptly stopped buying new homes.
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