Oppenheim Interviewed Mayoral Candidate Nithya Raman
The real estate broker hosted a discussion on city housing policy and the controversial Measure ULA mansion tax.
Updated on Sept. 20, 2026 in Remote Work
Live Poll
Do you support mansion tax policies to fund local housing, even if they impact market activity?
Jason Oppenheim sat down with Los Angeles mayoral candidate Nithya Raman at his Sunset Boulevard office for a 15-minute interview. The conversation centered on frustrations regarding city housing regulations and the impacts of the Measure ULA tax.
Why it matters
The discussion highlighted ongoing debates over the efficacy of Measure ULA, which has collected $1.4 billion since 2023 but has yet to complete any housing units. It also showcased Raman's policy positions ahead of her November general election race against Karen Bass.
Measure ULA imposes a 4 percent tax on real estate deals between $5.4 million and $10.9 million, and 5.5 percent on transactions exceeding $10.9 million. These figures represent the total revenue collected since the tax took effect in 2023.
The players
Jason Oppenheim
He is a real estate broker and the president of the Oppenheim Group.
Nithya Raman
She is a member of the Los Angeles City Council and a candidate for mayor.
Karen Bass
She is the current Mayor of Los Angeles seeking re-election in the November general election.
Rick Caruso
He is a prominent real estate developer and former mayoral candidate in Los Angeles.
JJ Redick
He is a former professional basketball player who partnered with Caruso to rebuild the local center.
The details
Oppenheim questioned Raman on her previous attempts to create ULA tax carveouts for property owners impacted by disasters. While the pair discussed these real estate policy challenges, mayoral candidate Karen Bass participated in a separate event involving the Pacific Palisades recreation center.
Timeline
January 2025: The Pacific Palisades recreation center sustained fire damage.
August 2026: Total Measure ULA tax collections reached $1.4 billion.
September 15, 2026: Jason Oppenheim released the interview with Nithya Raman.
September 15, 2026: Rick Caruso and Karen Bass attended a recreation center groundbreaking.
November 2026: The Los Angeles mayoral general election takes place.
Market Landscape
The city's ongoing debate surrounding the Measure ULA mansion tax mirrors tensions seen in other high-cost urban markets struggling to balance revenue collection with housing development. This discourse directly influences the competitive environment for developers navigating Los Angeles real estate policies.
Property owners and real estate investors face specific tax obligations of 4 percent or 5.5 percent on high-value transactions due to Measure ULA. These policies continue to shape the financial environment for residential and commercial property deals within Los Angeles.
The takeaway
The intersection of real estate policy and mayoral politics remains a critical focus for Los Angeles residents and business owners alike. Voters should monitor how tax revenue is eventually allocated to address the city's ongoing housing shortages.
What happens next
The Los Angeles mayoral general election is scheduled for November 2026, which will determine the leadership overseeing the future of Measure ULA and city housing initiatives.
Further reading
Explore more about how local policy changes impact the industry on the Remote Work section page.
Source note: This article includes information reported by The Real Deal New York.
Live Poll
Do you support mansion tax policies to fund local housing, even if they impact market activity?
