A 'Mansion Tax' Complicated the Housing Crisis. Could a Federal Bill Fix It?

A Los Angeles tax meant to fund affordable housing offers a cautionary tale about the potential unintended consequences of well-intended policies. WSJ reporters Rebecca Picciotto and Paul Kiernan join What's News host Alex Ossola to explain what that lesson could mean for a bipartisan federal housing bill that President Trump is expected to sign. Listen to all episodes in our series on ideas for fixing the housing crisis. Sign up for the WSJ's free Markets A.M. newsletter. Additional reading: Los Angeles Tried to Tax Mansions. Apartment Construction Tanked.  Newly Passed Housing Bill Throws Lifeline to Home Builders  A Bill Aimed at Creating Homes Is Leaving Plots Empty Instead Senate Passes Housing Bill, Bringing an Investor Ban Closer These Developers Stand to Win in Trump’s Housing-Investor Crackdown  Learn more about your ad choices. Visit megaphone.fm/adchoices