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

&quot;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. &quot;<p>Considering the values of some of this housing, that&#x27;s probably not enough to force units back onto the market.

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