LA multifamily permitting falls 18% after Measure ULA

LA’s Housing Market Collapses After 'Recovery' Claim - American Faith

Los Angeles Mayor Karen Bass claimed the city’s post-disaster recovery was the “fastest” in state history, but housing permit data tells a sharply different story, a Los Angeles housing crash. Since the passage of Measure ULA in 2022, the city has seen a two-thirds collapse in home construction approvals. Permitting fell from 15,285 homes in 2022 to 11,272 in 2023—the first year the 4% real estate transfer tax took effect. In 2024, permits dropp…

Cracks in the Mansion Tax: ULA Falls Short as Budget Crisis Deepens

Despite promises of a billion-dollar windfall to fight homelessness, L.A.’s real estate transfer tax has delivered just a fraction—while stalling development, gutting the tax base, and complicating post-fire recovery.

LA multifamily permitting falls 18% after Measure ULA

The voter-approved mansion tax has resulted in fewer apartments built across Los Angeles.