Impact of 'Mansion Tax' on Luxury Home Sales in Los Angeles

Luxury home sales in Los Angeles have been significantly impacted by the 'mansion tax' implemented in April 2023, leading to a drop in sales by 68% and only achieving 22% of its revenue goal. The policy aims to fund programs for the homeless but has faced criticism from developers and homeowners.

Wealthy Residents Selling Properties in Chicago's Gold Coast Neighborhood

Billionaire Ken Griffin and other wealthy residents are selling properties in Chicago's Gold Coast neighborhood due to high taxes and crime, leading to a downturn in the area's real estate market. A proposed 'mansion tax' on homes over $1 million could further impact property sales in the neighborhood.