After warnings of doom and gloom for the economy if the
sequester cuts took effect, which they did, and similar warnings if Los Angeles
voters rejected a 1/2 cent sales tax increase, which they did, the stock market
reached an all-time high! Real estate price index showed yearly price increases
of 10-14% depending on which index reported! Company profits were reported
higher than expected. Results of the banking "stress test" showed
that major banks were very solvent, better than expected. Unemployment dropped
to 7.7%, the lowest level in 4 years! All this good news did result in some
money moving from bonds (safety) to stocks, which raised rates a little. So I
am reporting more of the same: low inventory, raising prices with no end in
sight, and multiple offers. Prices are rising at an unprecedented pace.
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