Originally published at: https://peakprosperity.com/daily-digest/surging-home-prices-strangle-housing-market-lasers-modify-weather-china-taiwan-tensions-escalate/
In the realm of real estate, the American dream of homeownership has encountered a fiscal snag. The value of homes across the United States has soared, pushing many sellers into a higher capital gains tax bracket. A recent analysis revealed that a significant 7.9% of home sales last year exceeded the $500,000 profit threshold, making them subject to federal capital gains taxes, a stark increase from 1.3% two decades ago. This tax burden has led to a reluctance among homeowners, especially the elderly, to sell, exacerbating the housing market’s tight inventory. The More Homes on the Market Act, still under legislative consideration, proposes to alleviate this by raising the exemption limit and indexing it to inflation. States like California and Hawaii are particularly affected, with a notable portion of home sales facing these taxes, despite a slight decrease in such transactions in 2023 from the previous year’s peak.
Meanwhile, in the scientific community, a groundbreaking approach to weather modification has emerged. Researchers are harnessing the power of trillion-watt lasers to seed rain clouds and summon lightning, offering a potential boon to drought-stricken regions and agriculture. This technique, which capitalizes on existing atmospheric moisture, marks a significant advancement from historical attempts at weather control, promising applications ranging from agricultural support to hurricane mitigation. Some might ask, “What could possibly go wrong?”
On the international stage, tensions between China and Taiwan have escalated with China’s recent military exercises around the island. These drills, a response to Taiwan’s new president’s inauguration speech, which Beijing interpreted as a push for independence, have heightened concerns over regional stability. China’s military maneuvers, aimed at showcasing its ability to enforce an economic blockade and assert control over Taiwan, have drawn international calls for restraint. The situation underscores the delicate balance of power in a region critical to global economic health, with the international community closely watching the developments between China and Taiwan.
Sources
Capital Gains Taxes on Home Sales: Which States Are the Hardest Hit?
With all of these exorbitant capital gains tax events for sales, many, many older Americans now are not selling, because too much of that money will go to taxation, and not enough to their heirs.
Source | Submitted by Barbara
Scientists and Researchers Explore the Possibility of Manipulating Weather with Lasers
Well, as Mark Twain once famously said, ‘Everyone complains about the weather, but no one ever does anything about it.’
Source | Submitted by 0007
China Holds War Games, Vows Blood of ‘Independence Forces’ in Taiwan
China on Thursday encircled Taiwan with naval vessels and military aircraft in war games, as it vowed the blood of ‘independence forces’ on the self-ruled island would flow.
Source | Submitted by Congero1