hawaii, everyone welcome to "on the money." i'm becky quick. the unusual way to pay for a house, why a down trend is on for the mill len miamis. they're taking aim at the craft brewers. who will survive why some towns flourish while others fail. what to to if you find an inheritance coming your way, plus taking the hassle out of finding a babysitter "on the money" starts right now.

we zbrin with your home. ask most young people, they say saving for a down payment is harder than it's ever been but what if you could use crowd funding to raise the money that's our cover story today our diana olick has more. >> reporter: today's young americans are more social, more willing to share, but will they help others buy homes? that is the best as it launches the first program allowing molten chal home buyers to crowd fund their down payments. >> this allows you to tell your story, for folks to be able to buy in for the story what it is you have, your home story. >> reporter: it's fundinghome fund me. it gives a way for buyers to both market their needs and receive multiple tax-free cash gifts from anyone to finance

down payment on a home they used to limit it to close families, employers, nonprofits, and religious organizations all with lots of paperwork fannie mae and freddie mac finance the vast majority today. >> we're trying to test the variety of solutions the preferences for today's home buyers have changed significantly. >> reporter: they're not only saddled with high loan debt but high rent. but they're starting to get married and have children. >> of course, we see the wedding registries if you're going to spend $250 on a coffee making machine, if that 250 drrs goes to a down payment of your home, at the very least i improve your quality of life. >> reporter: one red flag in the plan is skin in the game if you're crowd funding and then

investing, are you investing the home >> why not. >> if i'm going to buy the house, oom going to save the money myself to do so. >> reporter: none were blamed for the last crisis when thousands defaulted on their loans and even walked away because they had nothing to do. >> reporter: skin in the game is a little bit of a confusing conte contest. is it really down payment? would you rather have a lot of money in the bank after they buy the home and no down payment and the opposite. >> that's why this is a test program to see if not only the crowd is willing to fund home buying but if homeowners will see the gift. >> i've gone back and forth. it's a really interesting phenomenon diana, thank you very much. >> sure. should we crowd fund down payments or is this just a disaster waiting to happen waiting to talk about it is rick shar ga of ten ex- that's an online sales company

and john taylor of the ceo of the national coalition gentlemen, thank you for both being here at that point you were an analyst during the fore closure crisis you say you see red flags. what are they? >> zero down payment loan programs have been spectacular failures in the past really it's because most of the people who have been able to get these homes simply weren't read and that's historically why investors look for some down payment, not necessarily 20% but to show financial ability, discipline, to indicate that that borrower's ready for the burden that homeownership applies. >> that's what we call skin in the game you want people to feel like they're losing something why is that? >> first off, we're not talking about investors flipping the

home they're going to live with their families there's fees involved, taxes involved the skin in the game also becomes the credit score, but they're not walking away because their down payment is low or min muss -- de minimis, they're walking away because they can't afford to stay in the house and that's why we have fore closures, right? number one number two, they lose their jorks disruption in income, or gores. those are the reasons. it's not down payment. >> they have higher levels of student debt and higher levels of rent, how can we get the millennials get into buying their homes? >> we have the highest level of young adults living at home with their parents that we've had in history. in many cases they're keeping their current housing costs low so they can save for that next house. we've really never had with the exception of veteran loans a zero down loan product that

hasn't had much higher rates of fore closure and default what we don't want to be doing is putting somebody in a house whose one water treatment payment or away from missing a mortgage payment and in a lot of cases those who don't have a cushion or buffer can never catch up, and that's a great point, becky if you don't have money for a down payment, it's very likely you probably don't have a lot of money in the bank. >> so, john, rick just said every zero down payment program has inestably led to higher fore closure rates. >> actually what he said, he took the example of the biggest zero down payment which is not accurate when you do a v.a. loan, it's spread out over the life of the lobe that's the perfect example these g.i.s, many of of them are actually young, millennial age,

and they're getting loans -- they're not putting anything down the result has been phenomenal, even better than most of the products in the private sector. >> rick, what do you think of in term os when the millennials will actually start buying houses in force? >> they're actually starting to buy houses they're the biggest group, 37%, 38% of home purchases are going to millennials and when you leak overall, it's two-thirds. >> rick and john, thank you for joining us today. >> thienk you. >> thank you. now here's a look at what's making news as we head into "on the money. sales increased by 1.6%. that's slightly below expectations but still the largest one-month increase we've seen since march of 2015 stronger prices pushed the numbers higher all three major indicesing can their slow melt up

so did the nasdaq and the s&p 500 which also set records in early trading on friday. in janet yellen-lead federal reserve released minutes from its last meeting the open market committee made it clear another rate hike is likely to come in december rates have been historically low for nearly a decade. up next we're "on the money. the big business of small brewers. with ee take you to the okay tonerfest o all kinds of craft beer. latering after traveling, performing, and seeing the whole country, ideas of a singer/songwriter, what makes a small town thrive. right now, take a look at the stock mortgage that ended the week

just saying the word "beer"

can bring a smile to your face even though beer sales are slowing, laggers and micro brewersys are growing. as landon dowdy finds out they're working to separate themselves from the big guys. >> it's the great american beer festival more than 60,000 beer crafters stormed through that door. they poured their major brews to stand out in a competitive marketplace. >> we brewed a beer with miamis and marshmallows, we also have a beer we made with doughnuts and coffee, cucumbers and black sea salt we're trueing to use as many interesting ingredients and inspirations as we can. >> reporter: you wouldn't have any idea with the looks at the

scene but beer sales are struggling they've been on the decline this year. >> no one's loyal to a particular alcohol. >> with spirits and wine killing beer's buzz, brewers are having to adapt and get innovative. >> more flavor and more variety. we're seeing companies respond there's more options. >> reporter: 800 brewers are here pouring their beers they're betting on beer's turnaround. >> and they're finding ways to stanld out they've attended a seal of independence along with ore craft brewers to let consumers know what they're drinking is truly craft. this is in response to big beer companies like anheuser and others to mass produce. but does the seal actually impact the purchase power to help consumers know they're supporting the little guy? >> sure.

if i'm somewhere else and i'm not familiar with the local beers absolutely i'd say, yeah, let me get a craft beer instead of some mass produced stuff that i don't like anymore. >> i don't really care i'll try anything. >> while the jury is still out on consumer chose since the seal was enacted i they say it might make a nearby group. >> you think there's a it. >> it raises the question is there this big bubble that's going to burst what i'm hearing is this is many of a natural correction than a bubble bursting and consumering are craving different ones. >> i i want to try the doan nuts beer, that's like homer simpson's best combination.

singer/songwriter daraa williams is describes in her new book "what i found in a thousand towns. here's a quick listen to one of her songs called "spring street." >> i don't have to go to spring street because it's spring everywhere door williams is with us now thank you. >> thank you you're getting a good idea. how did you come up with the terms of the book? >> my friend was like what determines relationships in communi communities. i said values, politics. he said, nope, proximity to one another. actually they don't get along. there's a collective feel of people choosing to say i'm going to be with neighbors and that's a good thing, so i call that

positive proximity. >> meaning we may not agree with everything that each other things about issues but we're going to be neighborly almost? >> my coming out of writing this whole thing, i thought, okay, you know, the opposite of division is not unity. it's collaboration and people make that decision like they're not going to get along perfectly with one another but they know how to collaborate and find the humor and skill set. sometimes tempers do flair my friend calls it grappling you've got the guy who stands up and talks for too long and the woman who gets very angry, but actually a community can embrace that too sometimes that firy temper is what pushes you forward. >> is it possible to do that in big cities >> have you been to big cities where you feel they can actually accomplish that? >> yes my sense is when they get into sort of the neighborhoods, you

know, in milwaukee, that they're called wards and there are these beautiful neighborhoods in chicago and minneapolis and then when they bridge to one another, these two different neighborhoods, then you've got the idea you're all in one city bridges all of these beautiful neighborhoods together. >> you have to start small and local and build from there >> ideally your school, your park, you want to dig in. you want to find that place that you feel -- you dig in and you belong and your contribution is valuable and you feel understood. >> where -- of all your travels, what are one or two of your favorite towns today >> i love -- i wrote about phoenixville, pennsylvania i think the fact that they have -- they rose up from their post-industrial, post-steel mill past on their own steam, not new

company, but getting into their old architecture and enjoying, you know, what everybody could offer is inspiring one of the things they have is the blob "the blob" was filmedly. >> my brother and sister-in-law live there i know phoenixville well. >> there was sci-fi weekend and godzilla weekend the stores all participate they're very proud of that one of my new mottos is every town has a blob and phoenixville showed how much you can do by digging into your own identity, your own past and finding one another on the way. >> door, thank you so much for joining us. >> sure. any time. >> we really appreciate your time. up next, the largest transfer of wealth gen x and millennials stand to

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$30 trillion that's what baby boomers are standing to inherit over the next two decades but what's the best way to handle it. gayle, thank you for being here. >> glad to be here. >> what's the first thing you do

if you find out you've come into some inheritance >> you probably should be consulting a financial adviser if this is the kind of inheritance or type of amount of money that's going to make a difference in your life. so financial advisers will bible to help you decide what to do with the money that you've inherited. >> probably don't do anything right away tack a lit time. >> absolutely. don't rush into anything at that time. >> are there big mistakes that people commonly make >> one of the biggest authentics is to invest the money without doing due diligence or the kind of research they need to do into what kind of investment they're making, who they're investing with, and therefore they could be subject to loss. >> what would i know what would be some red flags that would tell me, wait a second, buyer beware, because you're going to have a lot of

people pitching you a lot of stuff if you have money. >> absolutely. you should be looking for a financial adviser who comes from a reputable company and should be subject to the fiduciary rule this is a company who should be looking out for your interests firsts. >> some states have inheritance taxes. do i need to report it if i have a cash inhair tans, do i need to report it as income? >> that's a great question typically not. inheritances, items that you inherit under a will are typically not subject to income tax. if on the other hand you're the beneficiary of a retirement plan or an i.r.a. that you get directly, that might be subject to income tax because it was a tax deferred vehicle. >> thanks for joining us. >> my pleasure. up next, on "on the money," a look at the week ahead and a new app for babysitters on

demand, but would you trust a stranger to watch your kids? depends on what kind of pinch you're in, right we'll be right back. these birds once affected by oil

are heading back home. thanks to dawn, rescue workers only trust dawn, because it's tough on grease yet gentle. i am home, i am home, i am home here are the stories that may impact your upcoming week. on tuesday, the production rofrmtd wednesday we'll be getting the latest housing starts numbers and on thursday the leading indicators are out that measures the strength of

the leading business cycle thursday is also the third anniversary of the black monday. that's the day the dow fell 20% in one trading session. and remember having to leave your house to rent a movie the horror blockbuster opened its first door on this day in 1985. finding a babysitter at the last minute can be as hard as trying to find a taxi in the rain, but now two women in california have a solution to that problem indicate robertson has more. >> reporter: any parent knows how hard it is to find child care at the last minute. >> you can get a lot of screening an get consistent babysitters through the app. >> the startup was launched in early 2016 by casey edwards and becca cla ba richter they met at the university of santa barbara, california where they launched university

sitters. today they i have 8,000 clients and plans to expand into chicago and new york this year sitter rates begin at $25 an hour and the company works to fulfill on demand requests helpers 350 sitters also go through extensive vetting. >> we do an interview process that includes an inperson interview. we check professional references, day care, camps, wherever they may have been. we check for cpr certification, social media review, as well as a background check. >> they're working with a dozen companies including snap to offer child care services as a benefit to employees >> we're seeing not a lot of paid maternity leave and sick leave and we triering to push culture into the space of working into all of those working parent conditions. >> it will become a greater part of overall benefits packages in the future as the benefit of paid parental needs continues to

heat up. >> there are times you can definitely be in a pinch right now the services are only available in parts of california do they plan to expand >> they're looking to go into chicago and new york city. they're working with companies like snap, the parent company of snapchats to offer these as ben fis to employees that's where they hope to take the business in the future getting them to offer child care as part of their overall benefits packages. >> kate, that's interestinging that's the show for today. i'm becky quick. thank you so much for joining us. next week, are you thinking of adding a new member to your family guess what, you've got things to consider before bringing home a pet. that's it for "on the money. keep it right here, and we'll see you next weekend go to lendingtree.com and shop multiple loan offers for free! free? yeah. could save thousands. you should probably buy me dinner. no.

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