Under the arcane tax rule of possessory interest, thousands of California tenants in subsidized housing could face individual tax bills upwards of $1,000 a year.
Home builders and other real estate companies are increasingly betting that would-be homebuyers frustrated with a shortage of homes for sale and runaway prices will settle for renting their slice of the American Dream.
A strengthening Hurricane Ida, bearing high winds and the likelihood of flooding rain as it heads for the Louisiana coast, could damage the energy-heavy Gulf Coast economy and potentially have economic consequences well beyond the region.
A supply chain crunch that was meant to be temporary now looks like lasting well into next year as the surging delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy.