from Hacker News

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

by miguelazo on 2/12/25, 2:33 PM with 4 comments

• by Finnucane on 2/12/25, 2:38 PM

  "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.

• by jprd on 2/12/25, 2:38 PM

  https://archive.md/ARWaq

• by miguelazo on 2/12/25, 2:33 PM

  Major policy failure on the part of Dems (and the YIMBYS who advocated building all of the luxury condos that fed this market).