Foreign buyers eye luxe LA homes as proposed wealth tax pushes billionaires out of California ^46.5%

Fox Business - By Eric Revell - 4/8/2026, 7:01 PM

Appeal to Authority 33.3% - Biased Writer Voice 30.9% - Anecdotal 23.6%

California is seeing an influx of interest from foreign real estate buyers as the state's proposed wealth tax drives an exodus of billionaires. The wildfires that devastated Southern California in January 2025 prompted an uptick in international demand for luxury homes in the Los Angeles area, which rose by 18.2% by the end of last year... more