✉news BusinessReal Estate first seen 11 h ago, last 5 min ago, peak #5
Los Angeles mansion tax blamed for falling home sales and job losses
Original: LA’s ‘mansion tax’ backfires spectacularly as thousands of homes and jobs vanish
Los Angeles's so-called mansion tax, which imposes a levy on property sales above roughly $5 million, is being blamed for a steep drop in high-end transactions, with thousands of homes reportedly pulled off the market and real estate jobs disappearing. Critics say the tax has backfired, reducing revenue and pushing luxury development out of the city.
Why now: New criticism and reports claim the luxury real estate tax is shrinking home sales and employment rather than raising expected revenue.
Los Angelesmansion taxNew York Post
Rank over time, top of the chart is #1. 9 snapshots from 11 h ago to 5 min ago.
Evidence
- LA’s ‘mansion tax’ backfires spectacularly as thousands of homes and jobs vanish · New York Post
- LA’s ‘mansion tax’ backfires spectacularly as thousands of homes and jobs vanish · New York Post
API: https://socialmediatrends-api.osmike.com/v1/trends/928445