Impact of Measure ULA on Real Estate Market in Los Angeles
Measure ULA, a local tax initiative in Los Angeles, was intended to generate revenue for affordable housing and homeless prevention but has failed to meet expectations, leading to a decline in real estate transactions and market activity. The tax has faced litigation challenges and criticism for its impact on property owners, potentially hindering post-fire rebuilding efforts. Calls for the repeal of Measure ULA have surfaced to revive the struggling real estate market in L.A.