The Brief

A lucky few got a glimpse of the interior of the revamped Vista Theater on Sunset Boulevard last week, one of the last remaining single-screen movie theaters in the Southland, when owner Quentin Tarantino held a special screening of the 1993 cult classic True Romance.

The Vista — with a new 70 mm projection system, sound system, and 21-seat screening room and café named “Coffy,” after the 1973 Pam Grier film — opens officially on Friday at 4473 Sunset Dr., with horror maestro Eli Roth’s Thanksgiving.

The rebirth is the latest chapter in the century-long saga of one of L.A.’s most famous historic theaters. “The history of the Vista is quite surprising, and full of ups and down, and I for one find its resilience to be the most exciting part,” says Celine Vacher, of the Los Feliz Neighborhood Council.

To tell its story, you need to go all the way back to the birth of Hollywood.

Sunset Boulevard

Filmmaking came to the East Hollywood/Los Feliz area in 1912, when producers L.L. Burns and Harry Revier leased a fig orchard on Sunset Boulevard. On this farmland they built a rustic studio, which was soon renamed Reliance Film Company. Reliance quickly hired pioneering director D. W. Griffith, who brought along his silent film stars Lillian and Dorothy Gish.

Griffith eventually gained control of the studio, which he renamed Fine Arts Studio. In 1914, Griffith built a sprawling replica of a southern antebellum town around the junction of Sunset and Hollywood Boulevards. This set was used for his revolutionary, highly controversial 1915 racist epic The Birth of a Nation, which many historians point to as the first blockbuster full-length feature.

The next movie Griffith set at Sunset Junction would become part of Los Angeles lore. In this quiet rural neighborhood, still dotted with farmhouses and ranches, Griffith constructed a towering plaster set for his 1916 epic Intolerance. Meant to portray the ancient palace of Belshazzar, King of Babylon, the set covered an astounding three city blocks.

“Belshazzar’s Feast beneath Egyptian blue skies,” writer Kenneth Anger wrote in his infamous 1959 expose Hollywood Babylon, “spread out under the blazing California sun: more than four thousand extras recruited from L.A. paid an unheard-of two dollars a day plus box lunch, plus carfare.”

A large crowd congregates outside of Bard's Hollywood Theatre to celebrate its grand opening

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Los Angeles Public Library

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After filming, the set remained up in some form until 1922, becoming a playground for local children. By then, the area was becoming a hub for silent productions, crew bungalows, and stars’ mansions. “Los Feliz was home to Walt Disney’s very first studios, Cecil B. DeMille’s estate where Charlie Chaplin once resided, and even the Vitagraph studios where parts of The Jazz Singer (the first movie with sound) were filmed,” says Vacher.

Egyptian revival style

So it was fitting that the theatrical impresario Lou Bard chose to build the latest in his string of theaters at the fabled intersection of Hollywood and Sunset Boulevards, known as “the great crossroads of Los Angeles.” On Oct. 9, 1923, the 838-seat single screen theater, said to have been called Lou Bard Playhouse or Bard’s Hollywood, opened with a special vaudeville show and the short Tips, starring child star Baby Peggy — who also appeared on stage.

The theater design was as trendy as it could be. Designed by architect Lewis A. Smith, the exterior was constructed in the popular Spanish Mission Revival style. But it was the interior that was truly a feast for the imagination. Designed in the peculiarly western “Egyptian revival” style (popularized by the discovery of King Tut’s tomb in 1922), the interior was a brightly colored riot of golden pharaohs, goddesses, and lamps shaped like pyramids.

According to the Los Angeles Times, the theater was the site for all important industry previews during the golden age of silent film. But Bard was not as successful as he would have liked, and he reportedly sold the theater in 1927. It was renamed the Vista.

Over the decades, the Vista went through many owners. But it was reliably a popular neighborhood theater, even as larger, showier movie palaces sprang up all over Los Angeles.

A crowd of movie-goers attend a showing of Mildred Pierce, starring Joan Crawford, at the Vista Theater.

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Los Angeles Public Library

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Controversies over the years

Yet the small but mighty theater would find itself the center of controversies which cemented its place in history. In 1948, the theater capitalized on its historic location by announcing a revival of the problematic The Birth of a Nation, only days after D.W. Griffith's death on July 23, 1948. The Hollywood Reporter noted the choice, in a short article headlined “Opportunism!” It read:

Disturbed Angelenos immediately took action. Allen M. Metcalf, a local candidate from the Progressive Party, went to the theater to confront the management. “The manager of the theater,” the Los Angeles Times reported, “pointed out that the movie showed the skeleton in the closet of the nation and denied that the cinema was incitement for a riot.”

Progressives were unconvinced. Around 20 Black and white civil rights activists formed a picket line in an attempt to block customers from seeing the film. However, the revival continued.

Charges of un-American values

Controversy came again in the 1950s, when the theater reopened as the Vista Continental. Capitalizing on the growing popularity of foreign films, the theater boasted that it was the only SoCal theater showing first-run films from the Soviet Union. This led locals to complain that the theater was promoting un-American, Communist values at the height of the Cold War. But the theater soldiered on.

The biggest test for the Vista came in the 1960s. During that era, the theater began showing pornographic films, including same-sex films. Irate, the city revoked its operating permit. The Vista fought back, and in 1968 the case was heard in the California Supreme Court.

The Vista won the case, in a decisive blow against anti-gay governance. “The court ruled, in a 5-2 decision, that the law is ‘overly broad’ and threatens to deny theater operators their rights of free speech and press,” the Los Angeles Times reported in June 1968.

“The Court ruled that Stewart Burton, manager of the Vista Theater, should be granted a writ of prohibition against the Los Angeles Board of police commissioners, which did not renew his license.”

Over the next three decades, the theater changed hands several times before it was purchased by Landmark Theatres in 1982. It became known for reviving classic films like Harold and Maude and Gone with the Wind, but business was slow, as VHS decimated art houses nationwide.

A neighborhood gathering place

In 1997, the Vista was purchased by Lance Alspaugh’s Vintage Theater Group. Alspaugh made community outreach a priority. It became known for its very own Walk of Fame, featuring handprints and footprints from stars like John Landis, Elvira, Tatum and Ryan O’Neal, and Baby Peggy herself.

“It’s been an integral part of Los Feliz because it’s intentionally embedded itself in the community,” Vacher says. “Take the longtime manager [Victor Martinez], for example, every big opening night he greets moviegoers in full costume. It’s become a tradition and locals all have their own sets of memories with him as he makes everyone feel like a welcomed friend.”

The Vista became an important gathering place in the area, known for its welcoming atmosphere, epitomized by Martinez (who is reportedly currently on the board of the theater). The theater was rented out for weddings, late night screenings, and was the home of Thomas Starr King Middle School’s annual animation and film festival. There was a Secret Movie Club, and local filmmakers were thrilled when they had premieres at their neighborhood theater.

“I had my first movie premiere at the Vista, which we sold out,” says filmmaker Kestrin Pantera, whose film Let’s Ruin it with Babies premiered in 2013. “It was an…amazing all-night karaoke party and a dream come true to be on the marquee.”

The pandemic shuttered the Vista, which closed in 2020. The marquee, which read “To Be Continued…” became a hopeful sight for weary travelers driving down Sunset Boulevard during the shutdown.

What Tarantino says is next for the theater

But the Vista had not taken its final bow. In 2021, it was announced that director Quentin Tarantino, who saved the historic New Beverly Cinema when he purchased it in 2007, had bought the movie house. “I would not have handed the keys to the Vista over to just anybody,” Alspaugh told the Los Angeles Times.

“It’s no secret that Tarantino often pays homage to Hollywood history in his films, so it feels all the more appropriate that someone with such reverence for the art of filmmaking would be the new custodian of this iconic theater in its iconic location,” Vacher says.

Tarantino vowed to show only movies on film at the new Vista, instead of digital projection. He also clearly valued the communal aspects Alspaugh had fostered over the years. “I do think boutique cinemas will actually thrive at this time,” Tarantino told the Los Angeles Times. “I got a living room. I want to go to a movie theater.”

Over the last two years the Vista has undergone a dramatic makeover. “Quentin basically retained the auditorium — it’s intact, it’s been rehabbed and it’s still new and beautiful, but the overall auditorium is in intact condition,” said Alspaugh, who has remained as chief operating officer.

“The intention is to run mostly first-run and occasional classics or repertory film,” Alspaugh told Variety’s Pat Saperstein. “There will be sections of time where you might see classic repertory titles on film for brief interludes. In the future, you’ll see some late shows of classic films and I think you’ll see morning shows of classic films.”

Whatever happens, cinephiles are just happy that their favorite historic theater is again part of the community where it has thrived for a century.

“The entire neighborhood has been anxiously awaiting the Vista’s comeback,” Vacher says. “It’s been on everyone’s lips. We’re all so eager to see that corner revived and active, no doubt we’ll all be flocking to it trying to make up for lost time.”

In his final year in office, Gov. Gavin Newsom plans to go after large investors buying and owning California housing — in the same week that President Donald Trump also took rhetorical aim at Big Landlord.

It’s an unlikely meeting of the minds of two political foes who, in a race to head off the electorate's concerns about affordability, have landed upon the same populist message: Blame Wall Street.

Newsom plans to say during his State of the State address to lawmakers on Thursday that he wants to work with them to regulate the practice of investors buying up large stocks of housing to rent out, forcing California residents to compete with them to afford buying a home, according to the governor’s office.

Proposals could include “enhanced state oversight and enforcement and potential changes to the state tax code,” according to the governor’s office.

“When housing is treated primarily as a corporate investment strategy, Californians feel the impact,” a source in the office said. “Prices go up, rents rise, and fewer people have a chance to buy a home.”

That sounds similar to a proposal Trump made on his social media platform Truth Social on Wednesday. The two previously closely aligned on policy related to clearing of homeless encampments.

“I am immediately taking steps to ban large institutional investors from buying more single-family homes,” the president wrote, sending stock prices of major publicly traded residential investment firms plummeting. He urged Congress to put the proposal into law and promised to unveil additional housing policy proposals at the World Economic Forum summit in Davos, Switzerland later this month.

Newsom is stopping short of calling for an outright ban on institutional investors’ ownership, though the source said he will seek to “curb” it with the goal of making home ownership more affordable for California residents.

He hasn’t yet proposed anything concrete. Whatever Newsom seeks to do, he’ll need the approval of the state Legislature.

Trump, for his part, did not offer any details about his proposal, such as how institutional investors would be defined under the proposed law or why he targeted single-family homes in particular. The White House’s press office did not respond to an email with those questions.

The twin announcements come after years of long-shot efforts by California progressives to address a surge in companies buying up single-family housing stock in the wake of the Great Recession. The issue has been the subject of renewed anxiety in post-fire Los Angeles, where a recent report by RedFin showed investors (loosely defined as any buyer with a name that includes “LLC,” “Inc” or “Corp”) have purchased 27 of 61 burned vacant lots that sold in Altadena — more than 40%.

Asked about that report in an interview on MS Now this week, Newsom said he had signed an executive order last year seeking to protect homeowners who find it too expensive to rebuild from falling for “predatory” lowball offers for their properties. But he acknowledged “the broader market conditions are challenging.”

The proposals mark new territory for Newsom’s housing affordability platform. The governor, now in his final year in office, has spent most of the past seven years focused on boosting construction. It’s a pivot toward populism for the governor, who is widely expected to run for president in 2028.

Blaming deep-pocketed investors for the nation’s housing woes has become an increasingly ideological-spanning exercise in recent years, with politicians as diverse as New York Rep. Alexandria Ocasio-Cortez and Vice President J.D. Vance championing the cause.

Shortly after Trump’s post, Republican Sen. Bernie Moreno of Ohio, an enthusiastic supporter of the president, promised to introduce legislation in his own post on X.

Is this actually a problem in California?

Many housing industry professionals, economists and policy researchers are skeptical.

“It’s really hard to buy a house right now so people are looking for someone to blame for that, but I think (institutional investors) are more of a symptom of the affordability crisis than they are a perpetuator of it,” said Caitlin Gorback, a University of Texas at Austin economist who has studied investors’ effect on local real estate markets.

Research on the topic is mixed, though most analyses have found that by taking owner-occupied homes and converting them into rentals, these companies tend to increase the supply of rentals. That puts downward pressure on rents, while taking away purchasable homes, leading to higher prices.

Fewer than 3% of all single-family homes in the state are owned by companies that own at least 10 properties.That also takes away opportunities for would-be homeowners to buy a coveted single-family home. But even that comes with an under-appreciated upside, said Gorback: They provide more priced-out renters the opportunity to live in single-family homes — typically in wealthier, whiter and higher-resourced neighborhoods — something historically reserved for those who can afford to buy.

While apartment buildings are commonly owned and managed by large financial companies, single-family rentals weren’t seen as Wall Street-worthy money-making opportunities until the aftermath of the Great Recession. Since then, companies like Invitation Homes, Blackstone, Progress Residential and AMH Homes have typically focused on markets with relatively low prices and rapidly growing populations.

That doesn’t describe California. As a result, larger investors — however defined — make up a relatively small share of single-family landlords in the state. Fewer than 3% of all single-family homes in the state are owned by companies that own at least 10 properties, according to an analysis by the California Research Bureau, which conducts research for state lawmakers. A mere 20,066 are owned by firms with portfolios of 1,000 units or more. The largest of those owners is Invitation Homes, which owns over 11,000 homes in the state and reached a settlement with Attorney General Rob Bonta’s office last year over allegations it price-gouged tenants and illegally raised rents on more than 1,900 properties.

There are more than 16 million rental units across the state, according to Census data.

Though attacking big monied investors for the high cost of housing is a “huge distraction,” it has obvious political appeal, said Stan Oklobdzija, a UC Riverside public policy professor. “Attacking institutional investors is the latest iteration of appearing to do something without actually doing anything. …It's just kind of archetypical cheap talk.”

For nearly a decade, Democrats in the state Legislature have proposed bills to track or ban the practice. Former Gov. Jerry Brown in 2018 vetoed a bill to create a registry of institutional investors that own 100 or more single-family homes, noting that “collecting the data would not stop the purchase of these homes by private investors.”

In 2024, lawmakers proposed banning investors that own at least 1,000 single-family homes from buying more houses and renting them out, prohibiting institutional investors from buying single-family homes for any reason and banning developers from selling entire new single-family subdivisions to investors to rent. All three bills died in committees.

Assemblymember Alex Lee, author of the first proposal, revived the bill last year. It passed the Assembly and awaits a hearing in a Senate committee.

Lee, a Democratic Socialist who has long critiqued the role of big money in the state's real estate market, said he was "flabbergasted" to find himself on the same page with Trump, whom he described as a "far-right fascist." Though he expressed doubts that the Trump administration would follow through with the promises the president made in his social media post, he said that "Democrats need to wake up to this populist, but righteous, position."

"We can’t let the far-right capture the housing positions that the people care about," Lee said.

Newsom evidently agrees.

This article was originally published on CalMatters and was republished under the Creative Commons Attribution-NonCommercial-NoDerivatives license.

Once upon a time, we lived in a world where the “cool” kids were the ones up drinking until 5 a.m., weekend warriors who relished the pursuit of pleasure no matter the unsavory cost.

In today’s post-COVID world, however, things have gotten a little topsy-turvy. Nowadays, the cool kids are in bed by 9 p.m. so they can be up at 5 a.m., in time to slam down a shot of matcha and head to a day rave where all the attendees are — believe it or not — shockingly, sober.

The thing is, to the undiscerning eye, the crowd at a Daybreaker rave looks exactly the same as its typically drug-fueled nighttime counterpart: buoyant, animated and so very alive with its sea of thrashing bodies, quivering booties and smiling faces.

It’s a testament to a new paradigm shift, one in which adults are increasingly turning away from the hard stuff in favor of celebrating without alcohol. Nurtured by the desire for vitality, the small flame of “Dry January” has taken shape into something much greater — a whole new world of non-alcoholic gatherings.

From coffee raves to tea speakeasies and beyond, the world of adult beverages as we know it is rapidly changing. Whether you’re a social butterfly looking for a new scene or a homebody hoping to finally venture off the couch, we’ve featured three of our favorite non-alcoholic gatherings in L.A. Check ‘em out below in all their glory.

Bar Nuda (pop up locations)

Founded by Morris Ellis, a creative director and branding expert, and Pablo Murillo, a storyteller and entrepreneur, Bar Nuda is a pop up “bar” experience designed for those in mind who want to indulge in the social aspects of the barfly life without any of the lingering regrets the next morning.

“We've been on a mission to redefine a night out,” says Murillo, smiling as he places a drink in front of me. “Our slogan is ‘Drinks to Remember’, because we want you to go out and celebrate life.”

Bar Nuda helps you indulge in the social aspects of the barfly life without any of the lingering regrets

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Janelle Lassalle

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It’s a mission that’s more personal than professional — Murillo’s experience of losing his father to alcohol-related illness inspired him to redefine the narrative of what a night out could look like. His goal was a surprisingly simple concept: to create a warm, welcoming community where people could mingle without the standard social lubricant of booze.

“We wanted to really hold space for people like myself, you know?” Murillo continues. “When we started Bar Nuda, I was not sober, but I am now. Bar Nuda got me sober. We wanted to change the narrative for my family, but also be there for others to do the same and to say, hey, look, you can go out and have a really good time without drinking booze.”

Bar Nuda's slogan is “Drinks to Remember"

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Janelle Lassalle

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LAist

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Bar Nuda partners up with local bars, neighborhood coffee shops and other venues around Los Angeles to create unique non-alcoholic based events for patrons; check out their Instagram for the details. Trivia Night, for instance, is a regular staple in their event roster, with most events starting at 7 or 8 p.m. Other events include benefit concerts (to raise money for CHIRLA, The Coalition for Humane Immigrant Rights), Alcohol Free Game Night and even courses dedicated to making your own non-alcoholic based drinks.

“We do a ton of work with hospitality groups, venues and music festivals who are looking to build out their non-alcoholic programs,” says Brianda Gonzalez, founder of the non-alcoholic shop The New Bar, who partners with Bar Nuda. “Consumers are increasingly looking for other options when they go out and don't want to drink quite as much.”

Ellis and Murillo are certainly doing something right: to walk into one of their events is to feel like you’re, well, inside of a bar, filled with the sounds of warm laughter, buzzing conversations and the inevitable chaotic din of the trivia crowd. Drinks are prepared with a level of craftsmanship that might have you second guessing as to whether or not you’re drinking alcohol. The menu rotates seasonally, with many of the drink ingredients sourced directly from Mexico. The house favorite is the “Rosa Nuda”, made with tantalizingly tangy, fresh bougainvillea sourced by Bar Nuda’s Beverage Director Bryant J. Orozco.

As the guests at the bar form a small crowd, giggling about events to come, I take a sip of the Rosa Nuda before a huge smile spreads across my face.

The bartender laughs at me, pleased.

“Not bad, eh?”

Grab tickets here.

Daybreaker (rotating locations)

A recent Daybreaker event in Venice giving good vibes

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Courtesy Daybreaker

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The first time I attended a Daybreaker event was in Portland several years ago. I attended because friends of mine had told me there was a new, sober day rave spreading across town, and I simply didn’t believe them.

How very wrong I was. It may have been 9 a.m., but this crowd seemed just as rowdy, if not rowdier, than its nighttime counterpart. The only difference between the two was this crowd seemed decked out in yoga pants rather than rave gear.

Bubbling with energy at Daybreaker Venice

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Bailey Templeton

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“I wanted to have fun while still being able to function,” said Nemo, a DJ I met there. “At some point my body was not able to handle the disrupted sleep cycles and booze anymore, but I still wanted to be able to go to events and enjoy myself.”

To my great surprise, I discovered raving sober had its own unique appeal. The lack of alcohol kept me light and energetic rather than clouded in a drunken haze. I was able to dance for much longer than usual, and felt a familiar euphoric high similar to a runner’s high the longer I danced.

Daybreaker throws day raves in a number of different cities: Los Angeles, Seattle, Atlanta, New York. The next event in L.A. is Saturday Jan. 24 from 9 a.m. - 12 noon, to be held in a secret venue. Given it’s described as “dry January, wet with endorphins”, there’s a good chance it’s in a sauna, where Daybreaker is known to throw dance parties.

Celebrating life at 9am in Venice

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Bailey Templeton

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Courtesy Daybreaker

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“We’re living in a cultural moment where people are craving clarity, connection, and control over their wellbeing — and ultimately belonging,” says Daybreaker founder Radha Agrawal.

“Post-pandemic, there’s been a mass re-evaluation of what we put into our bodies and how we spend our time. Gen Z in particular is leading the charge — they’re drinking nearly 30% less than millennials did at their age — and they’re looking for ways to connect without sacrificing health or mental clarity," he says.

"People want to wake up feeling good, not hungover, and they’re realizing that social connection can actually feel better without alcohol.”

Snag tickets here.

Bu Tea Den (DTLA)

In true speakeasy style, I reached Bu Tea Den through an inconspicuous metal door in a back alley downtown. Once inside, however, the vibe quickly shifted. A curious video was projected onto a wall by the entrance, lit up by colorful, digital Paisley shapes swimming about. Each Paisley had a customer’s name plastered above it, giving the surreal sensation that I was watching some sort of digital city like a god from up above on high. ‘PAISLEY ID’ read across the top of the screen.

Nearby, what I initially thought was an ATM was actually marked "AFTM: automated fortune telling machine". Patrons can take a quiz and receive a spiritual fortune of sorts, printed out neatly onto a slip of paper like an ATM receipt, along with a corresponding Paisley.

(According to the machine, my life path number is seven, my soul age is baby, and my chakral focus is sacral. "Trust what steadies you, even if it changes tomorrow.")

Writer Janelle Lassalle experiencing Bu Tu Den's AFTM — an automated fortune telling machine

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Inspired by time spent in the Burning Man community, co-founders Severin Sauliere and Natalie Tran created the art installation to help inspire a sense of community at Bu Tea Den.

Sauliere and Tran are husband and wife: Sauliere is an artist/Creative Director, and Tran is Chief Steeping Officer in charge of tea operations. Their goal is to redefine happy hour by giving guests the opportunity to slow down and get social without the thundering din of techno music and flashy cocktails.

"It's not an upsell kind of thing," said Sauliere. "It's based on you chilling with your friends, having some tea together and talking. I'm not against alcohol, but it's everywhere. Having a space that doesn't have it challenges the dynamic a little bit."

Co-founder Natalie Tran, at Bu Tea Den “part tea lounge, part interactive art installation, and part intimate gathering space.”

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The space is cultivated in the style of a tea lounge, with a number of booths scattered about facing the Paisley display. Guests can enjoy a unique tea experience at the bar in which they’re served several rounds of tea blends, along with snacks like Ube popcorn, Fridays - Sundays 5 - 9 p.m.

Billed as “part tea lounge, part interactive art installation, and part intimate gathering space,” Bu Tea Den isn’t just a place where you can come to enjoy a strong cup of jasmine tea: it’s also gearing up to become a community-oriented event space. Guests can come by for regular events like Mahjong at the Den, a Hong Kong style version of the popular game, or an upcoming "Tea and Tease" burlesque and comedy night on Saturday Jan. 17.

Get in on the fun here.

Homeownership has become increasingly out of reach for many young families, especially in pricey California. On Wednesday, President Donald Trump said he plans to make housing affordable again by cutting deep-pocketed investors out of the single-family home market.

“I am immediately taking steps to ban large, institutional investors from buying more single-family homes, and I will be calling on Congress to codify it,” Trump said on the social media platform Truth Social. “People live in homes, not corporations.”

But in California, housing policy experts say Trump’s strategy might not move the needle on affordability much. That’s because institutional investors aren’t buying many single-family homes in the Golden State to begin with.

“It's kind of a red herring,” said Richard Green, director of the USC Lusk Center for Real Estate. “Institutional ownership of single-family rentals is a very small share of all single-family rentals, let alone all of the housing stock in the United States.”

Less than 3% of CA homes 

Trump’s idea is not new. Democratic California lawmakers have also proposed limits on investor home-buying. To inform the legislative process, state researchers have looked into the question of how California homes are getting scooped up by institutional buyers.

The answer: Not many.

Statewide, 2.8% of single-family homes are owned by investors who own 10 properties or more. That’s according to the California Research Bureau, which produces nonpartisan policy research for the Governor’s Office and the state Legislature.

According to the Urban Institute, large investors own a much greater stock of single-family homes in cities including Jacksonville, Charlotte and Atlanta, where institutional investors own nearly 29% of single-family rentals.

Corporate ownership rates are much lower in California. In Los Angeles County, home to more than 10 million people, only about 72,474 homes are owned by large investors, according to the California Research Bureau. That number includes single-family homes as well as condos, townhomes and duplexes.

Would banning corporate owners reduce competition?

Invitation Homes is the largest owner of single-family homes in California, with more than 11,000 properties to its name statewide, including about 3,100 in Los Angeles County. Its business model involves buying single-family homes, updating them and then renting them out to tenants who may not otherwise be able to afford home-ownership.

LAist reached out to Invitation Homes for comment on Trump’s announcement. We were sent a statement from the National Rental Home Council.

“Housing affordability is a critical issue, and we appreciate the administration’s focus on ensuring Americans have access to a diverse mix of housing options,” the statement read.

The statement continued: “Professional single-family housing providers represent a small segment of the overall housing market, and the single-family rental industry remains focused on supporting renters while also supporting pathways to homeownership.”

David Garcia, deputy director of policy at UC Berkeley’s Terner Center for Housing Innovation, said getting rid of institutional investors probably wouldn’t do much to bring down home prices for young Californians.

“The vast, vast majority of homes that are purchased are by people who are generally going to live in them,” Garcia said. “So you're not really reducing the main competition for home buyers, which is other home buyers.”

Lack of supply, lots of demand fuel CA’s high prices

Garcia and USC’s Green both said California’s home prices are high because of lack of supply. Steady demand for California homes coupled with low building rates since the Great Recession have produced a market where the wealthiest buyers out-bid everyone else for the few homes coming up for sale.

Trump’s proposal echoes similar policy explorations from the L.A. City Council, which voted in 2021 to consider banning companies like Zillow and Redfin from buying homes within the city.

Details were scant in Trump’s post, but he said more information about his plans would be forthcoming.

In his Truth Social post, he said: “I will discuss this topic, including further Housing and Affordability proposals, and more, at my speech in Davos in two weeks.”