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Amid booming home prices, capital gains tax is crimping inventory, lawmakers say

Published Wed, 26 Feb 2025 14:54:42 GMT

A million dollars couldn’t entice a Fountain Valley woman to sell her house of 40 years even though she’d rather down-size and move closer to her children and grandchildren.It’s not because of the sentimental value of the family homestead. And it’s not because she still needs four bedrooms, 2 ½ bathrooms and a big backyard.“Why don’t I sell?” said Sue, who lives alone and doesn’t feel safe using her last name in print. “(A sale) leaves many homeowners, like me, with a huge capital gains tax.”Also see: It’s a ‘bubbly’ housing market, says 2008 bank regulatorCapital gains — a term most commonly associated with investment property — has seeped into the vocabulary of residents living in long-held suburban tract homes.In the past, most homeowners were sheltered from the tax on their primary residences. The first $250,000 in value gains are excluded from the tax for single taxpayers while $500,000 in gains are excluded for married couples filing joint returns.But skyrocketing home values ...

Flag football, lacrosse, cricket, baseball/softball and squash added to 2028 Los Angeles Summer Olympics

Published Wed, 26 Feb 2025 14:54:42 GMT

By Ben Morse and Jill Martin | CNNFlag football is officially one of five new sports added to the Olympic program for the 2028 Summer Games in Los Angeles.On Monday in Mumbai at the 141st International Olympic Committee (IOC) session, it was announced that flag football, baseball/softball, cricket, lacrosse and squash would be included at the Games.It will be the first time that flag football and squash will be in an Olympic Games.Cricket was included in the Paris Olympics in 1900, while lacrosse was included at St. Louis 1904 and London 1908. Baseball and softball have been in several Olympics, most recently in 2021 for the Tokyo 2020 Games.“The choice of these five new sports is in line with the American sports culture and will showcase iconic American sports to the world, while bringing international sports to the United States. These sports will make the Olympic Games LA28 unique,” IOC president Thomas Bach said in a statement.“Their inclusion will allow the Olympic Movement to ...

Rookie Brandin Podziemski learns important lesson in first start for Warriors

Published Wed, 26 Feb 2025 14:54:42 GMT

SACRAMENTO — To shoot, or not to shoot? That was the question for Brandin Podziemski on Sunday night.There he was, open in the corner, and instead of pulling up for a 3-point attempt, Podziemski started to dribble. He dribbled forward past Sacramento Kings defender Trey Lyles, turned inside, drew three defenders, pump-faked, then ducked underneath and went to the hoop for an easy underhand bucket.It looked like a dazzling play by the Warriors rookie, who made his first start for the Warriors at point guard while Steph Curry and Chris Paul were resting during their 121-115 preseason win over the Kings on Sunday night.But soon after making the sensational play, Podziemski heard an earful from his coaches: wrong decision.“Honestly the coaches yelled at me because I didn’t shoot the corner 3,” he said. “They stress that a lot to me, ‘Catch and shoot, catch and shoot.’“I’ve never been in a situation throughout my basketball career when I’ve been able to be just open and shoot the b...

California’s job market: More firings – less hirings and quits

Published Wed, 26 Feb 2025 14:54:42 GMT

“Numerology” tries to find reality within various measurements of economic and real estate trends.Buzz: California’s employment picture has cooled to either (1) a new normal or (2) a worrisome slowdown.Source: My trusty spreadsheet crafted the “HQF” index to loosely measure statewide tensions in the workplace. The math, taken from some novel federal job statistics, compares California hiring (an upbeat signal) with statewide quits and firings (usual signals of distress).Fuzzy math: What’s up with workplace revolts across California this year – from tussles over work-from-home policies to numerous disagreements putting workers on picket lines?ToplineCalifornia had an HQF rating of 112 in the year’s first seven months – that’s 112 hires for every 100 quits and firings.What does that mean? Well, it’s sort of a “it-could-be-worse” message. Why? Consider the index’s history.Since 2001, California has averaged 113 hires for every 100 quits and firings through July. So this year’s is a tad...

Major fire in Livermore destroys at least 3 buildings, damages restaurant

Published Wed, 26 Feb 2025 14:54:42 GMT

(KRON) -- A major structure fire Sunday evening at a shopping center in Livermore destroyed at least three buildings and damaged two others, according to the Livermore-Pleasanton Fire Department.Livermore-Pleasanton FD responded to the blaze at a shopping center at Holmes Street and Concannon Boulevard just after 5 p.m., officials said. Three abandoned buildings are completely gone, Fire Chief Joe Testa said. One restaurant, Charming Fig, was damaged in the fire, and another abandoned building in the area was also damaged.The cause of the fire is currently unknown, Testa said.Holmes St. and Concannon Blvd. were closed in the area as the fire department battled the fire. Both roads were reopened as of 9:30 p.m. Sunday night.

Oakland PD investigating illegal sideshow

Published Wed, 26 Feb 2025 14:54:42 GMT

(KRON) – The Oakland Police Department is investigating a report of illegal sideshow activity Sunday at around 7:45 p.m. in the 3600 block of Foothill Boulevard. The OPD Communications Division received a report that vehicles were engaged in illegal sideshow activity in the area. When officers arrived, all the individuals involved in the illegal sideshow dispersed from the area, police said. 11 Santa Rosa thieves fooled by ‘bait bike,’ police say This is an ongoing investigation. Anyone with information is asked to contact the OPD Traffic Section at (510)-777-8570.

Newsom signs off on update to California's bottle recycling law

Published Wed, 26 Feb 2025 14:54:42 GMT

(BCN) -- Gov. Gavin Newsom has signed off on changes to California's bottle recycling law in a bid to bolster the state's beverage container recycling program, reducing the amount of plastic and glass going into landfills and helping to stabilize the recycling market.Senate Bill 353, introduced by Sen. Bill Dodd, D-Napa, will add containers of 100 percent fruit juice and vegetable juice to the state's bottle recycling law, putting another 200 million containers per year into the recycling stream, Dodd's office said in a news release Saturday. Viral TikTok shows Vallejo police officer punching a woman It would also invest new ongoing funding to support rural recycling options for consumers to redeem their deposit and improve recycling rates.The bill also authorizes the Department of Resources Recycling and Recovery to adjust its processing of payment calculations for recyclers to a quarterly schedule rather than yearly, helping to stabilize the market. Lastly, the bill improves tra...

4.8-magnitude earthquake shocks California's north coast

Published Wed, 26 Feb 2025 14:54:42 GMT

(FOX40.COM) -- A 4.8-magnitude earthquake was measured about 30 miles south of Eureka, California early on Monday morning, according to the United States Geological Survey (USGS). The quake was reported at 3:21 a.m., and no damage has been reported at this time. There is no expected tsunami danger from the earthquake, according to USGS. What causes earthquakes in California and how common are they? The earthquake epicenter was near the north coast community of Petrolia and nearly 400 people from Eureka to Mendocino reported feeling the quake. Multiple aftershocks have been recorded in the hours after the initial shock, including a 3.1 magnitude aftershock at 6:04 a.m. just a few miles northwest of the initial shock. Do earthquakes make you nervous? Here are the fault lines near Sacramento Petrolia is located in Humboldt County, about 300 miles away from Sacramento and around 250 miles from San Francisco.

63-year-old man reported missing in Oakland found

Published Wed, 26 Feb 2025 14:54:42 GMT

(KRON) -- The Oakland Police Department announced Monday that a 63-year-old man who had been reported missing was located. The man had gone missing Friday, Oct. 13, police said. 6 arrested after thieves use wagon in SF Walgreens theft: police The family of the man said he is in "good physical condition" and has mental health challenges, according to OPD. Anyone with information about missing persons is asked to contact the OPD Missing Person Unit at 510-238-3641.

MATCHDAY: England plays scandal-hit Italy in Euro 2024 qualifying. Hungary and Denmark can qualify.

Published Wed, 26 Feb 2025 14:54:42 GMT

A look at what’s happening in European soccer on Tuesday:EUROPEAN CHAMPIONSHIP QUALIFYINGGROUP CA European Championship spot is within reach for England as Gareth Southgate’s team hosts scandal-hit Italy at Wembley in a repeat of the 2021 final. England is unbeaten in seven games since last year’s World Cup and will qualify with a win, or even a draw if Ukraine doesn’t beat Malta. Italy is without midfielders Sandro Tonali and Nicolò Zaniolo, who were sent home last week after being questioned by police over alleged involvement in an illegal betting ring. It’s a big match for the Azzurri, who are level with Ukraine three points behind England. Italy returns to the venue where it beat England on penalties to win the European Championship in 2021. “We have great memories of that stadium,” forward Domenico Berardo said. “We’re going to play our game and try to win.”GROUP GHungary can book its place at the European Championship with a win away to Lithuania after an unb...