Just when you think things couldn’t get worse for California’s beleaguered taxpayers, a new problem is beginning to emerge that will surprise many homeowners when they sell their primary residences. The problem is the result of both rapidly rising home values and the failure of our political leaders to enact inflation adjustments to the capital gains exclusion on the sale of homes. Let’s start with inflation. Inflation under the Biden presidency inflicted a great deal of pain to most Americans. During that four year period, the cost of food (especially eggs), energy, and housing went up over twenty percent. As...