A study by Peter Dreier, a professor of urban and environmental policy at Occidental College, found fewer than 3 percent of single-family properties sold in L.A. in the 2021-22 tax year cost above $5 million.
He told the Washington Post: ‘Ninety-eight percent of the homeowners in L.A. won’t feel this at all, and the ones who will feel it can afford to pay it.
‘This is the rich striking against the poor.’