A Sore Spot in L.A.'S Housing Crisis: Foreign-Owned Homes Sitting Empty

6 points by miguelazo 4 months ago | 4 comments
  • Finnucane 4 months ago
    "In 2022, San Marino’s City Council proposed a ballot measure to levy a $10,000 tax on vacant commercial and residential properties, but it ultimately failed to pass. "

    Considering the values of some of this housing, that's probably not enough to force units back onto the market.

    • miguelazo 4 months ago
      Agree. And I think Vancouver BC's vacancy tax would have been even more successful if it had been sufficiently painful.
    • jprd 4 months ago
      https://archive.md/ARWaq
      • miguelazo 4 months ago
        Major policy failure on the part of Dems (and the YIMBYS who advocated building all of the luxury condos that fed this market).
        • 4 months ago