It’s not just about expensive homes that aren’t selling. ULA also has an impact on renters in L.A. County. “The potential negative impacts are not just in terms of the property tax revenue, but potentially the incentives to build new apartment buildings, to build new offices buildings, and so on. And those are also uncertain – but those could be other ways in which Measure ULA reduces the amount of building and, ultimately, might hurt renters in the city of L.A.,” says Jack Liebersohn, UC Irvine assistant professor of economics.

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