A proposal on the ballot in Los Angeles would tax turnovers of luxury properties to fund affordable housing.
Los Angeles’ “most iconic luxury shopping centers.” On the campaign trail, Caruso has been pledging to “clean up” homelessness — and skipping serious public forums about the city’s housing crisis.
Those forums are showcasing the broad coalition behind the United to House LA initiative, an effort that’s enlisted groups that range from the Los Angeles Federation of Labor and individual unions to housing organizations and the ACLU of Southern California. In all, some 150 local groups have so far joined in on the campaign.around funding from the city’s megadevelopers and various other property interests.
Meanwhile, nationwide, the distribution of housing wealth remains anything but fair. Between 2010 and 2020, the National Association of Realtors, housing wealth overall increased $8.2 trillion to a $24.1 trillion. A whopping 71 percent of that jump went to high-income households that make over triple their area’s most typical take-home. Low-income households realized just 4 percent.
This piece was reprinted by Truthout with permission or license. It may not be reproduced in any form without permission or license from the source.Inequality.orgOtherWords , the IPS national nonprofit editorial service. Sam, now retired from the labor movement, spent two decades directing the publishing program at the U.S.’s largest union, the 2.8-million-member National Education Association, and before that edited the national publications of three other U.S. trade unions. Sam’s own writing has revolved around economic inequality since the early 1990s.
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