LA's Luxury Housing Crisis: The Shocking Truth About Empty Foreign-Owned Homes
2025-02-10
The Wall Street Journal
In the midst of Los Angeles' housing crisis, a shocking trend has emerged in upscale suburbs like San Marino, where luxury homes worth millions sit empty and untouched, often owned by foreign investors. These vacant properties, with their perfectly manicured lawns, stand in stark contrast to the nearby neighborhoods ravaged by recent wildfires, highlighting the city's ongoing struggle with affordable housing and the impact of foreign ownership on the local real estate market, including real estate investing and property management.