>thank you so much for joining us today. this is not break. news. the numbers are not in our favor when it comes to buying a home here in the bay area, but it's not 1 size fits all this afternoon. we look at the differences. across the region in terms of affordability and get some expert advice on buying, renting or just staying put will have that conversation in just a few minutes, but 1st a look at your news headlines. contra costa county fair was just robbed of nearly $90,000. in receipts any antioch police say 2 park employees were making a nightly bank deposit monday night after the fair had ended when a suspect approached them with a gun. they say the thief got away with the fare, money and the workers. personal belongings. the city of oakland is looking at a 176. 0 0 deficit, meaning budget cuts need to be made the mayor sheng thao, says her plan will not include cuts to essential services or layoffs, she says they will instead focus on noncritical. or underperforming. contracts

increasing tax revenue and targeted hiring freezes. and in san mateo years in the making today, the city unveiled its long awaited fallen heroes. memorial. located in the city's central park, the memorial pays tribute to the san mateo residents who lost their lives in the line of duty. it's made up of monoliths, representing various branches of the military as well as the san mateo police and fire departments each of the monoliths is etched with the names of the fallen the faa is expecting today will be the busiest day for us air travel since 2019 this all comes just ahead of memorial day weekend. nearly 3.5 0 people are projected to fly this weekend. sfo expects more than 753. passengers between today and monday. all right, let's get to our weather warm inland. cool at the coast and a change coming this weekend. meteorologist jessica birch is tracking our forecast in the virtual view studio. hey, jess.

all right, jess, thanks so much. across the country. and here in the bay area more rates are up. redfin says the median sales price for a home nationally, is it a record 380?

probably laughing at home because we all know that here it is far beyond that. in fact, california home prices hit an all time high last month with the median statewide prices jumping just past 900,000. for the 1st time ever. that's according to the california association of realtors also not helping high mortgage rates, according to the mortgage bankers association. the average rate for a 30 year fixed loan is a little over 7%. but the housing picture really depends on where you are. in the bay area. some counties like napa, alameda and san francisco all saw more than 10% jumps in home prices over the past year, but in others like sonoma and solano counties, the prices barely went up our kevin koe is in vallejo with why the price trend there is so different from the rest of the bay.

well from solano county to the south. bay, where the price of a home has hit a new mile. according to the santa clara county association of realtors. the medium price for a single family home in santa clara county. was get this 2 million. 0 in april. that's up about 13% over the last year, arlen romero's explains how the sky high prices are impacting bay

area families.

still ahead is renting. a place to live. a better option. we talked to an expert rent? prices down in 1 major bay area city stay with us.

this afternoon. we're taking a deep dive. into the bay area. house. market. allen challenges people are facing. just trying to find a place to that they can afford to live right and for a lot of people, it comes down to 1 question is it better to buy or to rent? last month bank rate looked at 50 metro areas and found that the bay area had the biggest gaps between renting and buying in the areas of san francisco, oakland and berkeley. renters pay about $3500, a month

compare that to an average mortgage payment of more than 8500. and a similar situation in the south bay. we're rent is around $3200. but a mortgage. that's around 8500. so we asked cbs news business analyst jill schlesinger for her taking all this.

well in oakland, rent is actually get cheaper accord. to the web. of list. the average rent is just below $2000. a month. that's a 10% drop from last year are kelsey thoroughbred, spoke with 1 renter who is taking advantage of all this? she moved to oakland just because of the lower prices.

yeah. for comparison, the average rent in san france. is over. 26. a month. that's 700. more than what you would pay in oakland, san francisco also saw a slight decline in brent prices, but it was only 1.5. per cent drop. high housing costs and interest rates may have current homeowners decided to stay put, and they may also be considering upgrades or renovations. instead, our cbs news business analyst says, you should be mindful of the projects you take on and at what costs

advice still ahead of solution for cities that want more. housing and homeowners. who could use some extra cash. and carnival is this sunday. you can watch our live special coverage starting at 10 a.m. on picks, plus 44 cable 12 and streaming on the free cbs news app.

(♪♪) i'm getting vaccinated with pfizer's pneumococcal pneumonia vaccine. so am i. because i'm at risk for pneumococcal pneumonia. come on. i already got a pneumonia vaccine, but i'm asking about the added protection of prevnar 20®. if you're 19 or older with certain chronic conditions like asthma, diabetes, copd, or heart disease, or are 65 or older, you are at increased risk for pneumococcal pneumonia. prevnar 20® is approved in adults to help prevent infections from 20 strains of the bacteria

that cause pneumococcal pneumonia. in just one dose. don't get prevnar 20® if you've had a severe allergic reaction to the vaccine or its ingredients. adults with weakened immune systems may have a lower response to the vaccine. the most common side effects were pain and swelling at the injection site, muscle pain, fatigue, headache, and joint pain. i want to be able to keep my plans. i don't want to risk ending up in the hospital with pneumococcal pneumonia. that's why i chose prevnar 20®. ask your doctor or pharmacist about the pfizer vaccine for pneumococcal pneumonia.

yeah. in some parts of the bay area there. just doesn't seem to be enough. housing. to go. around. now. some homeowners are finding more options to split and sell their backyards as a solution, kenny choi shows us how the california home act is opening up opportunities for

fixed income retirees. and others to

the remains are also considering putting an 80 you their eggs. property for rental in will be right. back.

>liz>coming up tonight at 5. it's a story that often goes on. we meet a filipino american author putting the raw emotions surrounding immigration. into print that story and much more with ryan enomoto and myself

coming up tonight at 5 and be sure to watch our special roots and resilience and api. celebration tomorrow at 4 p.m.. you can find it on kpx and streaming on the cbs news app. well, thank you so much for joining us for today's important conversation about bay area housing and the rental challenges. we love to hear what you think. post your thoughts online using the hashtag kpx. cbs tv news news is next on kpx and local news continues on our streaming service, cbs news bay area i'll see you at 5. >> norah: tonight, wild weather ahead of memorial day. >> everything i heard was that this was going to be an insane weekend to travel. >> norah: we are tracking severe storms after the wind from the same weather system... [screaming] leads to a deadly stage collapse in mexico. and tornadoes in