LA's luxury house sales plummet 70 PERCENT in the first year since its hated 'mansion tax' was brought in as millionaires chose to live outside the city in Beverly Hills, Malibu and Santa Monica instead
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Launched April 2023, the policy levied a four percent tax on all $5M plus homes. But a year later Measure ULA saw luxury house sales drop by nearly 70 per cent. Realtor Hooman Ghaffari blasted the move 'a sham' that has sales 'unworkable'

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