Millionaires RACE To Sell Homes Before Taxes Skyrocket
April 4, 2023
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5:54Now PlayingMillionaires RACE To Sell Homes Before Taxes Skyrocket
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as posted by the channelMillionaires in Los Angeles scrambled to sell their homes before the "mansion tax" took effect over the weekend. Jayar Jackson and Jessica Burbank break it down on The Watchlist. Watch LIVE on weekdays at noon ET.
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"Though it’s home to some of the most luxurious and expensive real estate listings in America, California is readying to pass a housing bill that one "Million Dollar Listing" agent warned could create the "hardest hit" to the market since the 2007-08 crash.
"In about ten days or so, there's a measure called the ULA measure that's going to go into effect, which is going to be probably the hardest hit to the real estate market that we've seen since 2007," broker and television personality Josh Altman said on "Varney & Co." Monday.
Altman’s comments come in response to the recently-passed "United to House L.A." (ULA) measure in California, which adopts a so-called "mansion tax" on property sales or transfers over a certain value to pay for affordable housing."
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