A Sore Spot in L.A.'S Housing Crisis: Foreign-Owned Homes Sitting Empty (wsj.com)

Major policy failure on the part of Dems (and the YIMBYS who advocated building all of the luxury condos that fed this market).

"In 2022, San Marino’s City Council proposed a ballot measure to levy a $10,000 tax on vacant commercial and residential properties, but it ultimately failed to pass. "

Considering the values of some of this housing, that's probably not enough to force units back onto the market.