Hot Home Sales Fill Counties' Coffers

Look who really likes high real estate prices:

In San Mateo County, officials plan to give employees raises and pay for construction of a new youth services center. In Riverside and San Bernardino counties, some of revenue will go to create special units to tackle identity theft cases. In San Francisco, officials want to beef up public health services.

"God bless low interest rates," said Los Angeles County Supervisor Zev Yaroslavsky, "and God bless the rate of turnover of real estate, because it's certainly made our life a lot easier."

Just part of the coalition for artificially high home prices.L.A.Times