Downtown Los Angeles skyline in the background with East Los Angeles homes in the foreground.
Los Angeles luxury homebuyers are eyeing other locations where their money can go father.
  • Wealthy Californians are showing signs of frustration with the state's affordability crisis.
  • One-percenters are ditching their LA mansions for homes in cheaper parts of the state and country.
  • Many wealthy buyers say they were driven out by a so-called mansion tax in Los Angeles, among other tax-related issues.

Gus Lira, a managing partner at a private jet charter company, loved where he lived in Malibu. His condo overlooked the ocean right off the Pacific Coast Highway, near the Getty Villa.

But knew he needed to get out of California.