ULA is poorly designed - just what you’d expect from performative activists who think trying to understand policy makes you a neoliberal tool. A knock-on effect is reduction of assessment resets which only happen upon sales under Prop 13, so it’s possible the net revenue effect of ULA is negative.
Reposted from
Mott Smith
Measure ULA has devastated sales of properties >$5 million since it took effect in 4/23. Average quarterly sales volume has dropped by 70%. (orange line)
How do we know it's b/c of ULA? By looking at properties NOT subject to ULA (<$5mm or outside city of LA). Those sales have gone up.
How do we know it's b/c of ULA? By looking at properties NOT subject to ULA (<$5mm or outside city of LA). Those sales have gone up.
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