Graduation Year


Date of Submission


Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Reader 1

Professor Fan Yu

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Measure ULA is a tax on all real estate transactions worth more than $5 million in the city of Los Angeles. The tax is meant to raise money to combat the housing crisis and homeless problem in Los Angeles. However, the tax has caused a significant decline in real estate investment and development in the city. This means that actual revenue generated from the tax is significantly less than projected and there are questions about whether this tax is helping or hurting the housing crisis in the city. In this paper, I analyze the effects of the tax on the commercial real estate market in Los Angeles by looking at property sales data before and after the implementation of the tax on April 1, 2023.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.