but keep in mind, still holding above the 16,000 mark for the third straight day. ashley: pummeled. the strong dollar and the crop report weighing on oil, gold, and green. tracy: our special day long series on the business and real estate from high-end to low inventory. we have you covered. coldwell banker ceo on the booming luxury real-estate market. it is nice to see that those guys are back in action. and prices are up. the age of buyers is going down. ashley: what happens. just not enough funds to buy. ceo on my low inventories are having a serious impact on the housing recovery. that is a story we hear time and again. tracy: it sure is an inventory issue. well, top of the hour, time for stocks as we do have a 15 minutes. we had done to the floor of the new york stock exchange. you have some stocks losing ground. >> reporter: we do. a choppy session today in the

next market. the dallas down 22 points. nasdaq, of 13 and and a half points. that s&p is hanging on to land at gain. commodities as selling off. gold down by $36. oil's selling off. the tech sector is doing well, as other transports, airlines seeing a strong performance. health care is up. if elected market this week, we are trying to hang on to gains. positive if we do that tall which is likely. three straight weeks of gains in a row. tracy, ashley. ashley: thank you very much. appreciate that. we will be back in 15 minutes. here are some of the top stories today. the dollar continuing its march higher against the yen, breaking the 100 level for the first time in nearly five years. getting support from stronger economic data. the u.s. and japan massive stimulus program which was unveiled last month. and the stronger dollar is only

affecting the commodity market. crude tumbling nearly 2% falling below $95 per barrel. one of the biggest losers as gold, down almost $40. on track, by the way, for losing weight, snapping two straight weeks of gains. we will have reaction from the pits in just minutes. more bad news. california attorney general suing the bank for illegal debt collection practices. that bank robo signed documents to college credit card debt from roughly 100,000 borrowers. the attorney general claims a day essentially ran a debt collection no filing thousands of lawsuits over the course of three years. tracy: them are fighting words. after a long dry spell, the luxury real-estate market is heating up. the transactions have emerged and and no one knows better than president and ceo of one of the country's largest real estate companies. you guys are certainly in the luxury market. what is happening?

>> well we are seeing is a great resurgence in the level of activity in the high end. in fact among within our program we found a 23% increase in multimillion-dollar home sales from last year, from 2011-12. memo we found is that with the resurgence of the stock market, the regaining of wealth, the general confidence in the direction, plus right now we have some fantastic buyers in the luxury space. people are now taking the time take action. tracy: above year putting their homes on the market. who is buying them? these are baby boomers. are they thinking downsize. >> we are seeing surveys from individuals and a high-end space then moving on to the next chapter of their lives, however that could be to resort to my retirement. one of the trends that we found in speaking to our top previous specialists, and we all recall earlier this week, one of the biggest things found is a move in the age bracket with and the

luxury high-end. in fact, in speaking to these individuals and and these are the best of the best, what they said is that the predominant by renowned and 55 and has moved to between 30 and 50 years of. tracy: that is going to be me. these people are the ones that are now kind of the altar affluent. it is not old money. very driven, professional people in the tech industry, the financial industry. and so they're looking for a very different type of luxury products and their parents. >> data necessarily want the big, sprawling house. >> many of them are focused on the kids. then no longer what the grand formality of the home. they're looking for open late, casual lifestyle. in fact, we joke about what they're really looking for today is almost a luxury kids can't. no longer puts the kids away. they want to have their whole life revolves around a children. they want that destination place where the kids come over to visit.

tracy: this sleepover room. i want one of those. inventory levels are changing. there are down. we keep talking about this. the inventory is not there. >> it has not been there for quite some time. that has been the case because the lack of the stress test. we are finding the inventory challenges are rising throughout the whole space at every price level to it. tracy: kids are getting married later. you get married and you buy a house. how has that affected going out there and buying? >> the norm is changing rapidly. but we have seen of the last five years and based on a survey that we just did, we are finding that the traditional assumption of individuals getting married having children and moving on to buying a home is no more. in fact, we found that one out of four individuals today was actually buying gown with a partner before getting married. there are more people that are making that life decision of morning home before making a commitment to marriage. tracy: it is still there. >> there's no question about it.

despite all the conversation about the impact of the recession and assault concept of access verses are shipped, every single service that we have seen suggests that it may be a little bit later than, perhaps to made would have been far prior generation, but everyone is focused on unrealistic. tracy: someone could on never sought she mansion sunday and a half to mention it because i would walk by that every day. amazing to me that is on the market. i have to believe there's a lot of interest. $100 million, the fact that you compare the house and the market for hundred million dollars and expects buyers has to say something. >> what we have seen in many of the top luxury markets are record-setting prices. a home like that, a trophy home, that is so unique it is almost like art. if you look at our top sales professionals, such as the listing agents, j. mills out in beverly hills, they're the ones that possess those properties that are unlike any others in the world. there is always a buyer.

tracy: a better not be jay-z. thank you so much. because you know will be. >> now that you said that. tracy: it's going to annoy me. ashley: forget about the big apple. the place to buy a condo these days is right across the hudson river in new jersey. adam shapiro is there were buyers are literally signing contracts riverfront units sight unseen. >> reporter: when you hear about $100 million homes, the average price per unit in the building that is being put up behind me sounds like a bargain. take a look at what is happening and what is now called the gold coast to new jersey which is this shore of the hudson river, the jersey shore because they're building condominiums. a boom under way. adding 850 units. buildings are already up, and as you said anaconda's selling for $500,000. some of them being sold sight unseen. the question you have to ask yourself, if you don't have the

cash, have refinanced? and is it easier to go on today on the conduct? >> it would be harder. the requirements as far as a level of documentation or 20 years ago, six years ago. now we just require to document the person's income, assets, liabilities, and collateral more teivel t w did a few ars ago raheortfntry. a loof people toigte thre the ct,ome on thi sidf th riv auy aomeor a lot les mey than th can re al g e benefs of the interest. tax deduction. time devoted the benefit of appreciation. >> reporter: one of the things you point out, port of entry. of course, the ferry. $9.1 way to get back to manhattan. but at the end of the day that

question about, can you get a mortgage on a condo. a little bit more difficult, especially when you have new construction. most of the buyers right now our international buyers with deep pockets. ashley: that always helps, doesn't this? interesting stuff. thank you so much. all right. well, ending too big to fail, federal reserve chairman ben bernanke says more needs to be done. tracy: commodity prices gone wild. in the pits of the cme following the huge price drop. tracy: ashley: the blue jean deal that has investor seeing green. tracy: as we head out to breakfast take a look at how metals are doing. gold and silver down. the equity market is doing all right. copper up. down 16 points. we will be right back. ♪

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ashley: well, blame the greenback. a stronger dollar taking its toll.

phil flynn of the price futures group is in the pits of the cme. the dollar is not only the driver, opec ramping up production. >> reporter: it is. a 5-month high, and those increases, production increases look a lot bigger from when the dollar was so strong. absolutely no doubt, they came out with the report today. saudi arabia increasing production. they are adding to markets that are already oversupplied. that is really putting the downward pressure on prices. of course, the other brick spread, that continues to come in on this big production number the dollar obviously taking a major toll, but what is interesting, when you look at the spread, it is coming because u.s. exports are at 20 your eye. who is taking all of that oil? we are sending a lot to canada, believe it or not. we used to import more energy than anybody. they're taking a lot of our oil. ashley: that's interesting. i want to talk about the reports

that came out in the last hour. how are grains reacting? >> reporter: selling off. the u.s. bins are busting right now. in fact, the corn carryover, that is the amount we have in our bank account for next year if we have a bad crop. the highest level since 2005. the soybeans and we also came in higher than expected. and the corn crop in the u.s. is on a target to be the biggest ever picked, so we are back on track. not only the biggest crop in history, but our backup supply is at the highest level since 2005. that is bringing grain down across the board. corn is down big, about $0.13. we down $0.16, and the soybeans, not the least bearish of the mall, down a couple. ashley: finally, i have to mention gold. it has been another arrest a for the gold supporters. >> reporter: i tell you right now, the increase in the dollar

and the yen story is having people get out of gold in a very big way. i do think that this is a knee-jerk reaction. very technically we're coming into some very strong support around this 430 area, and we fail to get below 418. right now gold is definitely reacting to the dollar and the yen. that stabilizes you could see it rebound right back, right now they're feeling the pain. ashley: they certainly are. thank you so much. >> thank you. tracy: all right. the equity market as we do every 15 minutes. we head down to the floor of the new york stock exchange. >> reporter: a winner and loser. less talk about the winner. company's share, surging to a 52-week high and a takeover deal. capital partners buying the company for $835 million, about $32 per share, which is a 9% premium from yesterday's closing price. true religion also reported

earnings this morning, and they mess to austria expectations on the bottom line, but we have a nice gain today. now, moving in the opposite direction, shares are down from 2%. the company splitting its chairman and ceo rolls. both were held since 1995. he is losing the chairman title. tracy: we will see you in 15 minutes. it out with the hottest real-estate markets in the country, and we are going to reveal that top-10 next. ashley: and phoenix rising. the housing crisis. we are drilling down into arizona's valley of the sun for a firsthand account of that come back. it's all coming up next. stick around. i'm so glad you called. thank you.

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♪ >> reporter: get 20 minutes past the hour i'm your with your fox news minutes. reporting the u.s. military has to believe marine units on standby duty that deteriorating security situation in tripoli. this comes after a state department morning advising

americans not to travel to libya , calling security unpredictable. in bangladesh a woman was rescued alive from the rubble of the collapsed garment factory 17 days after the disaster. crews heard a faint cries of save me in speculates she survived on water that firefighters used at the site. the death toll has now reached more than 1,000 people. two days after the house oversight hearing on september 11th been gauzy embassy attack, newly released e-mails are raising new questions about the white house's response. changes in he no-show efforts to downplay terrorism and the administration's official talking points. instead saying the attack was triggered by protests. those are your news headlines on the fox business network. it would be back to tracy in acid. tracy: thank you very much. okay. the business of real estate. we are counting down the top ten hottest housing markets that home buyers have climbed so far this year.

coming in at number ten, denver, colorado. you would have thought. followed by detroit. in that los angeles, riverside california at number seven. just behind, san diego and number six. you have sacramento at number five, san francisco and san jose ranked fourth and third. last vegas number two. that was the drumroll for phoenix arizona. you know what, these areas, have to admit, they sell most. ashley: they did, so they have the most to come back. in fact, no other metropolitan area housing market has grown faster than phoenix. temporary home prices are up 23% since last year according to s&p kaye scholer. more than double the 9% average for the other 20 cities that this survey. our next guest has seen that come back firsthand. three mac's owner and agent. thank you so much for joining us i mean, let's face it.

phoenix that absolutely battered in the housing collapse. how ch bte is nro hoseark,ark ds? it is amazing pryod ere r maetsp aost 50erce frowhe we were two years ago and our average price is gone up to $230,000. ashley: who is doing the buying? >> the buying is being done by just about everybody. we still have some investors in town buying, but first-time home buyers are back in the market. the interest rates are great. mentor is a little love. opinion which price stands someone is looking at, it will depend on how many multiple offers will be dealing with each transaction. ashley: homes on the market, or largely distressed properties or are we seeing some of price levels? >> well, the distressed market has gone down from high as 74% 2 years ago to only about 24 percent of our market. our market has improved over the last two years. so new home market is picking

up. seeing new home builders developing land again. model homes are popping up. our market is very strong right now. ashley: given how far the prices have fallen, how far they have to go to get back death at least in the same ballpark as they were a for the crash? >> before the crash may be a little bit, we are up 50%. you went down 60%, as we are close to where we were before the crash happened. ashley: let's take a look at what the bank starbucks is. we have three properties of different price points. let's begin with what you give a 330,000 in phoenix. it is pretty decent. a four-bedroom, three that home. 3,000 -- well, almost 3600 square feet. nice outdoor pool, which i think is the law in phoenix. it is not a bad price for the property. >> that is a great price. we have sold this house to the buyer two years ago quit to run and 58,000.

about ten dozen remodeling. he won better and less. >> blackstone country club. kind of a niche market. mary-set tastes. this one actually sold within an hours of the sign going up, literally sold before it hit mls. ashley: very impressive, we're running at a time. let's get to the more pricey property. over 1 million. tell me about this palm mega home located in phoenix on the

edge of paradise valley. this home actually has -- almost three under and 60-degree views. it is on the market and has been for just under two months. so it is a great house. price of $400 per square foot. a little bit pricey, but the views are worth it. ashley: paradise. it looks beautiful. very good. certainly phoenix rising. remakes honor and agent. thank you for joining is. we appreciate. >> thank you very much. tracy: all right. sure. our low interest rates causing banks to take on too much risk? ed, fed chairman ben bernanke warning. ashley: 15 straight months of inventory decline. this ceo will be up next with why home availability is turning the real-estate market on its head. tracy: and take a look at who is up and do is down on the dow as we head out to break.

hewlett-packard up top. caterpillar, actually, alcoa, your big loser on the dow 30. it will be right back. ♪

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ashley: it is the bottom of the hour. time for a look at stocks. let's head to the floor of the nyse and our very own lauren simonetti. lauren. >> ashley, the s&p and nasdaq are up. the dow is trying. let me show you a big winner, the gap. they reported same-store sales in april, up over 7% from last year. their guidance for the first quarter was better than expected as well. of course they report may 23rd. we'll look forward to that report and several analysts coming out today raising

their price target on the retailer. so a nice gain and a nice turnaround for gap. back to you. ashley: all right. lauren, thank you so much. we'll be to you in well, about 15 minutes. tracy: federal reserve chairman ben bernanke earlier today expressing concern over the too big to fail banks. he said this at the chicago federal reserve meeting this morning, calling them a risk to the financial system. peter barnes joins us now from chicago with more. he made some dire statements, didn't he? >> yeah, tracy, that's right. there is this big debate about too big to fail going on in washington and whether more should be done to try to make sure we never have to bail out banks ever again. there is some legislation on capitol hill that would try to do more in that area. so the fed chairman came all the way here to chicago to take a question on it this morning and he said he is still concerned about it. take a listen. >> i think that too big to fail is a very big issue and, we will not have completed the goals of financial

regulatory reform unless we have adequately addressed this issue. >> he pointed out they're still doing these dodd-frank rule-makes as part of all this they're imposing higher capital requirements to make sure the taxpayers don't have to bail out banks if they get in trouble again. then he said we'll see if we're comfortable at that point once everything is done that the problem has been solved and he says, if not, the fed could always go back and make the big banks take on even more capital. tracy, ashley, back to you. tracy: peter barnes, thank you very much for that. he has been tooting that horn for a while. ashley: yes he has. all day, by the way if you haven't noticed we've been focused on the business of real estate but what happens if there aren't homes to buy? that is becoming a huge problem. the number of available homes in the u.s. has plunged to record lows and it is having serious implications on the housing market according to my next

guest. she is the ceo of re/max, one of the largest real estate companies in the country. margaret, thank you for being with us. i guess you could argue that it is artificially inflating home prices. would that be accurate? >> i would say it is impacting home prices but in a good degree. it is putting upward pressure on prices but the good thing about that is they're still historically low. what that does for homeowners currently underwater in the value of their home, rising prices gets them from being underwater. in 2012, 1.7 million home owners are no longer underwater because of a rise in prices. that's a good thing. ashley: that is a good thing but why aren't more homes coming to market? >> well, you've got a lot of reasons, some people who are still underwater, there are 10 million homeowners currently you know water in their mortgage. they don't want to put it on the market because they would have to bring cash to

the table. so we're seeing as prices rise, to give you an example, if prices rise five more percent, another 1.8 million people will not be underwater, they will then if they need to sell their homes and add to the inventory. ashley: who are the buyers right now in your experience in the denver area? >> we are seeing across the board. 30% are first-time homebuyers taking advantage of these low mortgage rates. you've still got, 30, 35% or more current homeowners who have been looking to sell and maybe buying something bigger. their family is growing. investors are still a part of the market. about 20% are investors who for the longest time buying and turning into rentals. now with the inventory and prices going up, they're buying and fixing them up and putting them back on the market. ashley: what about the concern, it is certainly historic interest rates must be incredibly tempting but how tied to the lending standards and how much is

that holding back this market really taking off? >> lending standard are still too tight. we hear it from agents in the field all the time that very qualified buyers are having a difficult time sometimes getting loans especially maybe on the high end of things. you know i look forward to the time where the we've gone from too tight standards, or excuse me, too loose to too tight. i'm looking forward to getting back common sense, i have a job, i can prove it, here is my income and allow homeowners to buy the homes and get those mortgages. ashley: what is the biggest problem you're hearing, margaret, with those standards? is it a higher down payment? is it a blemish on the credit? what is it? >> i think part of the problem is there's, there's so many rumors and talk out there is the mortgage interest deduction going to go away? is it, am i going to have to put 20% down? all of these things that are part of dodd-frank and are out there in the news, but, nothing has been decided yet. so i think some people are a little leery. but all in all, the rates

are low. the prices are still historically low. it really is an excellent time to buy and it's a good time to be in the market. ashley: so from your perspective out west in the beautiful state, when do you expect prices to at least get close to where they were before we saw the market crash? >> well, what we're seeing right now, we are about 25% off the peak of what we were in 2006 but honestly as the peak in 2006 was an artificial high. so we are growing in prices which is good. in fact the number of transactions have been month over month for 21 months up and prices increased for over 14 months in a row. that's a good thing you by think we'll see a little correction along the way. that is also a good thing. we don't want prices to go straight up. but we're seeing very reasonable pricing right now. and i'm good with where it's at. ashley: very quickly, margaret, we heard how investors are swooping in

picking up properties whether from china or canada or wherever. have you seen that in the denver market? >> we've seen it actually across the whole u.s. in 2012 alone, $82 billion of properties were bought by foreign investors. they came in. they said, wow, great prices, low, low, low. let's go ahead to get our foot in the door and get some beautiful properties in the united states. ashley: amazing number, 82 billion. margaret kelly in denver. thanks so much for joining us. we appreciate it. >> thank you. my pleasure. ashley: there you go. beautiful denver, colorado. gorgeous. tracy: well, if at first you don't succeed, try, try again. that is what carl icahn is doing in his fight for dell. we'll have the latest details on his latest offer next. ashley: plus amazon is looking to expand beyond the kindle but are you ready for holograms on your phone? the web giant is petting on it. -- betting on it. as we head to the break look at the 10 and 30-year treasurys. the yield on the 10-year, is

up and 30-year is up seven basis points. we'll be right back. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪

>> i'm jo ling kent with your fox business brief. shares of qlax glaxosmithkline are on the rise. they approved a new drug for cpd. this is the third leading cause of death according to

national ups statutes of health. home building is surging but contractors have having trouble filling jobs to meet demand. associated press says the manpower shortage is mainly due to the workers who left the industry after the housing bubble burst. the shortage is acute in areas where demand for new homes recovered the fastest, arizona, california, texas, colorado and florida. as prices hit multiyear highes mcdonald is cutting angus burger from the menu. they off the set higher beef costs by promoting chicken which is less expensive. that is the latest from the fox business network, giving you the power to prosper.

ashley: the push to buy dell still on the table with a brand new offer now from carl icahn and southeastern asset management but the question will investors bite? interesting, isn't it,.

the next chapter in all this. emac joins us with her bottom line. so where is the sweetener in this from icahn. >> that is a great question because the icahn deal is just $12 a share in cash or stock in the company. a piece of it he still wants to be publicly-traded. less than what carl icahn's team was offering a few months ago. they were offering more money a few months ago, 15 bucks a share. so when we have now, the board just out with a new statement, breaking news here on carl icahn's offer. basically saying they will review the transaction. let's put it up. we're carefully reviewing the potential transaction for the potential risks and so forth. the carl icahn team is essentially saying, look, we also want to get rid of the board. carl icahn has southern asset management on his side. let me break it down. icahn saying his side, 12 bucks a share. percentage of dell still

publicly-traded. that is the upside for that deal. you can still get a piece of it because it is still publicly-traded. the michael dell side is $13.65 a share. it has more debt. 16 billion in debt versus five billion on the icahn deal. which one sounds better? what we do know right now that carl icahn is threatening a proxy fight if the board doesn't budge. again he is offering less money per share to investors and, less debt. is that worth it to go with the carl icahn deal? you got to say to yourself, is the company going to improve going forward? should you just go for the $13 plus offer from the other side, from michael dell. tracy: what is -- for bidding lower? >> he is essentially saying, remember blackstone backed out. tracy: right. >> blackstone backed out after dell is seeing an erosion in their business. we've seen this before from carl icahn. he does a big heavy push at the same time, the little caveat he is offering less money. so he is attacking the board

saying essentially you're doing damage if you don't take our offer. we are trying to ameliorate the damage you the dell board is doing by not taking our offer. the again the big caveat he is offering less money per share. ashley: a lot of bluster. >> a lot of bluster. there you go. this is intensifying takeover battle. we'll stay on top of it. ashley: stay tuned as you say. emac, thanks so much. tune into "cavuto" tonight, at 8:00 p.m. eastern. guess what, carl icahn himself will join neil cavuto to discuss the latest offer at 8:00 p.m. eastern. tracy: you heard of 3-d movies, 3-d printers, what about 3-d smartphones? we'll get your virtual shopping cart already. amazon.com is developing a 3-d phone in the latest effort to compete with apple using retina tracking technology. that is cool. they are expected to display holograms floating above the screen. 3-d glasses not required. thank god. they make me dizzy.

no word how much they cost. how fun, could be caught texting and driving. there is hologram floating. ashley: busted. tracy: all right. as we do every 15 minutes we head down to the floor of the new york stock exchange. lauren simonetti still down there. hey, lauren, what is it going on? >> hello. it's been a choppy session. we have a mixed market. the dow is down 13 points but the breadth of the market is certainly positive. s&p is up slightly. for the week we're looking at gains, the third straight week of gains. so that is refreshing. everybody is talking about dow 15,000, is it going to last or are we going to start coming back down? when is the pullback coming? if you have the answer to that question, you're the next warren buffett. everybody seems to be wondering the same thing. commodities pulling back sharply today. the transports are up. the airlines putting in a strong performance. with that i will send it back to you. tracy: thank you, lauren. we'll see you in 15 minutes. >> all right. ashley: we're following the

top stories driving the market action today, the dollar hitting a multiyear high against the yen. the best way to watch that trade might be toyota shares. that stock hitting a six-year high in today's session. cheaper yen, cheaper for the company to buy and you can see as the dollar rises against the yen toyota shares rise with it. couldn't be more clear. the dollar has a big impact on company. weaker yen versus the dollar boosts the profitability for exporters like toyota because at the can make more money on their products sold. getting another check from oil. we're less than an hour away from the close. crude is getting hammered by the stronger dollar, down nearly 3% or 2% at least. it is on track by the way to snap three straight weeks of gains. one winner is the nasdaq. there you go. the index hitting a fresh 12 year high and outperforming the other major averages for a change. the gains are coming thanks to strong earnings from priceline. those shares by the way, jumping to a 52-week high as

you can see even though the company's guidance was a just a little bit on the light side. for the stock doesn't matter. tracy: go figure. right? i don't know. ashley: good day for priceline. the business of real estate, that doesn't have to mean buying and selling homes though. tracy: we're going to introduce you to a company that is coming off three straight years of record growth thanks to the housing recovery. the president of a moving company, two men and a truck, he will join us. ashley: is there a bubble still looming in the housing market? even experts can't agree on that. we'll have a debate next. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one.

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ashley: well there is a debate over if there really is a real estate bubble right now. there is those that say it is and there's a warning from real estate attorney bob massi, he shared his concern particularly for the las vegas market with dagen and connell earlier today. he worries as bank owned properties held up in the courts vanely hit the markets. >> we have a lot of new homes sales. i mean homes are going up all over the place again. the prices have gone up. but i do believe if i may, there is going to be another bubble. >> i wish he wasn't using word bubble. that uses fear of god. eliminate that word in the future, bob. >> we'll see. >> didn't like that word earlier. >> it won't be as bad as it was i can tell you that. over here i'm speaking of. we'll still have that much of a problem because it is still fictional. once the foreclosures start up again and we have more reo properties on the market then you're going to see there will be more homes and the prices will fluctuate a little bit. tracy: debate on the bubble

word continues. well americans are on the move and as a result moving service industry is seeing steady gains. joining us, two men and a truck president randy shaki. randy, thanks for being with us. before we even talk business i want people to know you started out as an intern, did you not? >> i did about 13 years ago. >> i did. tracy: how cool is that. you're now sitting in the presidential suite. you've seen this business for a really long time. you've seen ebbs and flows. you guys are on a tear, lately. how come? >> we are. i ink ievel facts. aprimarkur41st nseciveontof grth and 23rd record month as a system. i think partly the economy is stablizing a little it about. part of home values increasing and inventory reductions. a lot of it two men and a truck taking time to focus on ourselves realizing we couldn't control the economy and outside factors but we

could control investments in new technology and investments in people. that's where we went to work back in twaef, 2008, around the time of the downturn. we started seeing a record year in 2010 and that trend continued the last three years to the tune of over 60% growth as a franchise technologies. just this last april alone you hired another 500 people. are you still hiring? >> oh, we are. we're always hiring. first and foremost we look for people that believe in the core purpose which is to move people forward. in the past april we had a major hiring blitz really help us sustain the growth we're seeing but also to really share opportunities that exist at two men and a truck. tracy: okay. >> one in three of our franchise owners started as a front line staff employee. i'm a prime example of opportunities that exist at the company. tracy: you certainly are. talk about what you're seeing in the moving world now, right? >> sure. tracy: are we moving intrastate or out of state? >> we're actually moving both locally and interstate

currently. as you seem some stabilization occurring a lot of times you see interstate market growing faster because as that sense of confidence comes back, as opportunities come back, you see pockets of the u.s. coming back stronger people are more likely to jump ship and move out of state and then usually you see the local market kind of come back as that trend continues. we are growing over 70% in our interstate market alone. we're seeing a heavy trend of folks moving in and out of states more so than the last several years. tracy: we have it is about $5600 to move out of state. that is really interesting. for a while we were struggling with the job market. people couldn't find jobs. maybe they could find in another state but couldn't sell their house to move there. now what you're saying you are seeing they could sell it and picking up, packing the truck and they're moving their family? >> yeah. you're starting to hear words like bidding wars we haven't heard in several years especially in michigan. people are starting to packing up looking for

opportunities more so as companies are expanding and growing moving out of state. all our segments are local, home, business, boxes and packing sales have all grown substantially the last three years even when the economy was going down but we are continuing that trend into 2013 this year as well. tracy: i could have used someone to pack me when i moved. i broke four glasses, three mirrors. it was a mess. about $1100 to move locally. you're looking over the next five years to have 400 more locations? >> yeah. our five-year vision is to actually have 400 locations worldwide. we currently have 21 locations in canada. we've got locations in the united kingdom and ireland but our focus is expansion and growth. we've got many great opportunities still available to become franchisees to become part of two men and a truck. we're putting efforts to share the story of growth. share investments in people and technology. really share two men and a truck is about. we've got a great story and history,000 this company is founded. tracy: you're the perfect

face man for it. randy, thank you very much for sharing your story. >> thank you so much, in the u.k. it is called two blokes and a lroy. coming up we talk to a man who built a niche business on the housing crisis. he figured out to turn the need for pricing data into profitable business. he is known as the king of rental housing. he is our special guest as we take you through the very next hour of "markets now" why are twice as many people choosing verizon

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new jersey. i didn't know we had one. where there is a construction boom, to phoenix, arizona, where one of the hardest hit areas of the housing market is actually moving on up. it is at the high end of the market and it is booming. ashley: plus we'll take you to illinois where one company single-handedly save ad town from ruin. it is a great story so stick around for that. first we have breaking news for you on the federal budget. rich edson at the white house with the latest numbers, rich. >> the government made money in april $113 billion. bringing the annual deficit for fiscal year that started on october 1st to $488 billion. at this point last year, about halfway through the 2012 fiscal year we had a $720 billion deficit. at that point, that has an awful lot to do with the tax deal they reached at beginning of this year, some $620 billion in additional tax revenue over the next decade which started the beginning of this year.

also the automatic spending cuts and sequester they kicked in. that is $478 billion in deficits. when you consider surpluses in april. certainly not an ad thing to have them in april. in last april, you can owe much of that to the fact that it is tax day. a lot of americans cut a tax check to the u.s. treasury. i know i did. that are the results for the month of april. $488 billion we're running now for the fiscal year that ends october 1st. back to you. ashley: we thank you for your money, rich edson. >> you're welcome. ashley: he says with gritted teeth. tracy: he has to get himself a couple kids and won't want to pay the bill. it is top of the hour. we have to go back to the floor of the new york stock exchange. lauren simonetti is down there. hey, lauren what is it going on? >> tracy after five weeks of records, five in a row for the s&p 500 hadn't seen that since 1998, we're seeing a pull back. we saw that today and yesterday for the dow down

about 13 points. but the nasdaq is up by 18 and s&p 500 is up by a point as well. we do have the urge to come back today. we're not seeing a major pullback as many people would expect. this week was a quieter week. no maker economic news. we had favorable jobless claims yesterday but earnings season is starting to slow down as well. traders are sitting on their hands wondering what to do. for the week we're up across the board. not only major averages are up, dow transports are up. russell 2000 is up. both are up pretty sharply. that shows you that there is still the appetite for risk out there. so, that's how we're doing this friday, kind of choppy and still nixed. back to you. tracy: thanks, lauren. we'll see you in 15 minutes. >> okay. ashley: while stocks continue to trade near record highs gold and oil are selling off and our next guest said commodity stocks will reflect the weakening demand. joining us our good friend, margie patel, senior

portfolio manager with wells capital management. thank you for being with us this friday. look, i would imagine, what will push stocks much lower other than profit-taking? i don't see anything out there right now that will cause somewhat of a jolt to the market. do you? >> no, i think any correction that we get will be very mild because the momentum of corporate earnings is still pretty good across the board. i think the mid-part of the year, the second and third quarter often have a slowdown in growth, so we might have a little mini growth scare but i don't see the market could have much more than a few percent correction. ashley: which sectors do you think will outperform the rest? >> i think health care is going to continue to outperform because they have cost cutting, leading to higher earnings. we have a raft of new drugs that i think should speak well for future profitability. and we have a lot of m&a activity, takeovers and combinations which i think can lead too much higher prices. i think companies related to

shale gas will continue to do very well. they may bounce around a little if oil prices go down or up. and i think those sectors in particular will do well. i think financials also might start to accelerate as we see some lending going on in the corporate sector. as we see housing pick up. ashley: what about the commodity companies? commodities getting a hammering today thanks to the stronger dollar. is that a trend you expect to continue? >> yes, i think it is. i think it's one, i think a stronger dollar usually has a negative impact on commodity prices and i do think we might see lower demand for commodities, for infrastructure, particularly in china. because they may redirect assets away from all the and soi think those two factors, as well as lower growth in some developing markets may we'll keep a lid on commodities. ashley: so with regard to that stronger dollar, what does that do to treasurys and what do you like in fixed income? >> well, i think it's going

to contribute to treasury rates staying very low. in that call it for the 10-year, 1 1/2 to 2 1/2% because for a foreign investor if you have the dollar move up which it has so far this year for other currencies, that says you can get 4 or 5% just on the currency in addition to the income. in fact being a lot more important to the income. and i think foreigners are actually a little bit underweight in our market. i think we may well see money come in, stronger dollar, our economy beginning to accelerate by the end of the year and helping keep rates low along with low inflation. ashley: right. you know, margie, a lot of people talk about the disconnect with the real economy which is still continuing to very slowly move forward in the united states and the record highs we see on the stock market but i guess does it really matter when we have the central bank here and quite frankly around the world continuing to print money? >> well i think what the fed is doing is really has a small effect on the real

economy. i think we've had a rebound in the economy. just because of the ability of business to restructure and to grow profits. very, very substantially coming out of the low point in the recession. and i think that is why stock prices are where they are. not because treasury rates are so low. just simply reflecting great fundamentals and future growth in companies. so, and i think that is going to continue. i think that we may see the fed be a little more accommodating in permitting more lending activity, which, that would be more on the regulatory side. that would be a real plus. but 1% treasurys i think doesn't have much of an effect. if treasurys go up i still think you could see a better equity market. ashley: a good place to finish. margie patel. thanks very much for joining us. we appreciate it. all right. let's get into the real estate market. the new jersey condo market is on fire these days if you doesn't know as demand is surging and construction

heads into overdrive. adam shapiro is across the hudson river in weehauken, new jersey with more on this story. adam? >> ashley, here in hudson county, weehauken is in hudson county, median condo price gone up 17.6%. they move out of manhattan, come here for cheaper prices. how do you get into the city? ferry is behind me. $9 a one-way ticket into the city. a lot of people are doing that. especially with the condo there calling this part of weehauken and part of the jersey shore on the hudson the new gold coast. you see that behind me? that is one. several condominium developments popping up since 2005. there was a slowdown during the recession. the cranes are busy as are construction workers. that unit has 74 individual units, prices $1.5 million. still a bargainncoming from manhattan to get a three or

four bedroom place. how do you finance this? we talked to steven grossman. he said there is a lot of things to consider when getting a mortgage loan. >> there is a little bit more restrictions. not only do we look at the individual's income, not only do we look at their assets and their credit, we also look at the condominium themselves. this would be a newer project. if you're comparing it to a mature project, something that was built five, 10 years ago, 100% sold out and majority of units are owner occupied that is easier condominium to get financing on. something newer for first 30 to 50% of the people closing on the project they don't have as many options as if they were buying a single-family home. >> why is that? >> fannie mae specifically. they set the rules to our business. even if you're not a fannie mae, not a fannie mae product a lot of lenders will follow their guidelines and fannie mae has specific guidelines regarding condominiums on presail, the -- presale, percentage of units owner occupied.

historically condominium units have more credit risk than a single-family home. >> do they still have more credit risk than a single-family home? >> yes. >> if you got the 1 1/2 million in cash you can get one of the places behind me. but look at the view you will get. that is manhattan over there you see the carnival cruise ship, i believe that is carnival docked at the pier. that is the view people will have in condo developments up and down the hudson. credit scores are still very important. used to be easy to get a loan but nowadays, anyone between 620 and 740, a little tougher than if you have a credit score 740. most of us fall between 620 and 740. ashley. ashley: that is the issue. what a view indeed especially at nighttime. it is all lit up. adam shapiro. tracy: taking ferry to work it is a really nice way to commute. i'm telling you. from the east coast we'll move west to arizona, a state that had one of the highest foreclosure rates in the country. times have changed. now homeowners from all over

the world are flocking to phoenix, scottsdale area to scoop up property. we have scott gable. thanks for being with us right now. let's first talk about the market as a whole. did it bottom out? are we done? >> it's bottomed out. we're done. basically in 2011 we saw the bottom and since then we are up to luxury home market is up 21%. our luxury copped dough market is up closer to 35%. tracy: who are buying these homes? is it jersey people or are they from out of the united states? >> we are seeing buyers coming from canada. we're seeing buyers that are coming from california. pacific northwest and east coast. a lot of the east coast are tired of dealing with that weather. tracy: yeah. i will dwell on the commute yet again if i may for a second. what's happening? are you seeing prices go up? are you seeing bidding wars? how is the purchasing going?

>> in the luxury home market which is mainly what i deal with, we are not seeing bidding wars and contrary to what they have been talking about going on in arizona, in the luxury market we actually have 12% more inventory than we had last year. but the good news with that is, it is giving buyers the luxury buyer a lot to choose from. but homes are selling within six months of being listed. and again prices on the luxury market are up 21 to 28% from the low in 2011. tracy: if these are second homes for people are you seeing the condo market take off as well? because as a second home maybe i don't want to mow the lawn? >> we absolutely are seeing the condo market on the rise. and actually, that is a bigger area of shortage, is our downtown area condos because in the last five years, there have not been any multifamily housing permits pulled for new condominium projects that is definitely where we're seeing a shortage and prices are continuing to go up faster in our condo market.

a lot of people that were in those big homes, and were just overwhelmed when the market tanked are now wanting an easier lifestyle. so they like condos because they don't have the big water bills and big electricity bills. tracy: right. >> they're also enjoying a simpler lifestyle. easier to get away. tracy: we talked earlier with the ceo coldwell banker, the luxury buyer is back. the luxury seller back. you have people selling these luxury homes. where are they going? are they leaving the phoenix-scottsdale area? >> not necessarily. they have really been kind of sitting on the sidelines for about five years, paralyzed like everybody else and they were waiting to see whether it was time to sell. they now feel it is. so they are either buying the bigger home or they're downsizing and half of them are going more urban. finally making the move. tracy: so if i can ask you about your business a little bit. because of all the interest from overseas, you guys are, your office is going global as well, isn't it?

>> we are. we affiliated with a company called angle and folkers, based out of hamburg, germany. and we have 37 offices around the world now. that is wonderful because we're seeing an influx of european buyers and a lot of people deciding to go to east coast are now making the venture to come to arizona because again our pricing is more affordable. tracy: of course china too is always in the mix. >> china as well. tracy: agent at edmunds realty. thanks for sharing your insights. >> thank you for having me. ashley: we have some breaking news for you on jpmorgan. in a letter sent to shareholders the board of directors says they unanimously support jamie dimon continuing his role as both chairman and ceo of the bank. the letter also strongly endorses the re-election of all the bank's directors. so that is in response of course to the call for perhaps mr. dimon to not have both roles within the bank. so keep an eye on what comes

from that. all right. coming up with making money with charles payne. that is always good with charles money. he is coming up four, count them, four of his previous picks. find out how much money you could have made if you listened to his advice. tracy: a little friday afternoon victory walk. more on the business of real estate. we'll take you to a town in illinois saved by a single company. this is cool story. we'll introduce you to the man referred to as the king of rental housing. we'll be right back. don't go anywhere we went out and asked people a simple question:

how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sureou have the money you need to enjoy all of these years. ♪ ashley: it is time to check the markets. lauren simonetti on the floor of the new york stock exchange. lauren, you have some news on dell? >> activist investor carl icahn as well as southeastern asset

management, they're two of dell's biggest shareholders. they're proposing an alternative to michael dell's bid for the company, that $24.4 billion bid. many people, many shareholders are finding carl icahn and southeastern asset management's bid superior because it would give them choice essentially. shareholder would get $12 forever share they own as keep their stock and they can have more say in the board's operation. investors are liking the news. stock is up 1%. back to you. ashley: lauren we'll be back to you in 15 minutes. keep it right here as our own neil cavuto goes one-on-one with the man himself carl icahn. don't forget that at 8:00 p.m., neil cavuto charting with carl eye kahn about the latest offer. tracy: as emac pointed out, a lower offer. ashley: lower. tracy: we can still make money, charles payne is here

with video faps from books to close. he is talking about how he could have made you money. >> talk about a couple ideas i shared with you guys talking about the notion of broken industry. eventually the internet will put brick-and-mortar out of business. eventually this will put that out of business. it eventually happens but the stocks react years before. the day, they reported again last night. the day we did them was 14 1/2. we actually took profits. it has been as high as 19. that is example. we know people are not using hard lines. despite the fact it is down earnings came in from twice the street was looking for. tracy: wow. >> had huge move from 11 to 19. people taking profits to go over $20 real soon. we talked about gap stores. i talked with you guys about this so many times. this is not something that technology will blow out of water. but it was old, steal and never thought you could catch up. tracy: right. >> looks like they're catching up. the stock is doing well.

it made a huge move. you know what? i think people should hang in there, ride that one too. a couple of extraordinary examples. game stock. -- gamestop. i think a couple are gone but the stock made miraculous recovery. people in the stocks, sell them off. people will get their games online.% maybe one day that will be true but the fundamentals don't change as quickly as the stocks get hit. finally got to talk about barnes & noble. that is another one. that is another one i think it was in the low teens earlier this year, late last year. up almost 100% from the lows. ashley: reading last rites. >> we're all, i happen to love barnes & noble. i love shopping experience there. tracy: isn't cost cutting bringing stock up, charles? they're closing stores. they're making things more efficient. books are cleaner. could that be why the stock -- >> no doubt technology and innovation puts pressure on old guys to stay in lock stop but to write them off completely, maybe we'll order one day all our books

on line and they will be out of business but this doesn't happen to be the case. when the stocks get hammered on this kind of news in the future maybe there is opportunity. ashley: good stuff. have a good weekend, charles. >> you too. ashley: more coming up on our day long special, the business of real estate. it is a hot topic. it spun its own genre of reality tv to flipping houses to million dollar listings. we've we have got the details next.

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>> at 25 minutes after the hour i'm arthel neville with your fox news minute. in cleveland the third kidnap victim, 2-year-old, michelle knight, has just been released from the hospital. earlier the ohio attorney general said dna tests confirm accused kidnapper ariel castro is the father of the 6-year-old girl born in captivity and found with three women in his cleveland house this week. castro has been arraigned on kidnapping and rape charges. in bangladesh a woman was rescued alive from the rubble of the collapsed garment factory 17 days after the disaster. crews heard a faint cry of

save me and speculate she survived on water firefighters used at the site. the death toll has reached more than 1,000 people. it is day two of england prince harry's week long us-visit. today he honored america's war dead at arlington national cemetery. next stop is the 2013 warrior games in colorado where 200 wounded u.s. and british servicemen and women will compete. those are your news headlines on the fox business network. get you back now to tracy and ashley. tracy: can never get enough of the royals, arthel neville. thank you very much. our special series of the business of real estate continues tonight as gerri willis talks to a trio of reality tv stars making huge money, huge, on the housing market. she joins us now. i say huge, because my girls and i watch some of these shows. >> i'm so thrilled. we have peter pasternak from flip this house. we'll ask him, is flipping over or is it really back? if you do it, how do you do

it and make money at it and lose everything you own flipping a house. ashley: exactly. >> he will tell us all about that, i'm very excited. we have oren alexander. this fellow, listen to this, sold the most expensive miami house, single-family home on the market ever. closed the deal for $47 million. this was in august of 2012. he says the market down there is on fire. there are some 20 condo projects in miami being built right this very minute and a 120 residential projects throughout the miami area. ashley: there were ghost towns filled with condo complexes with no one in them. it was amazing. >> some construction was stopped in the middle of building a couple years ago. >> that's exactly right. people say real estate will never come back, it is over, nobody cares. housing industry is dead, nobody should own a home. that is happening in miami. tracy: beachfront property is beachfront property. i don't care what happens. eventually that will come back. >> absolutely. i totally agree. we'll have a lot of people

on to talk about this very thing. join us at 6:00 and 9:00 p.m. ashley: great stuff. great commission on $47 million steal. he is rolling in it. >> we'll be very nice to him. tracy: maybe he can sell the versace mansion. that is 100 mil. gerri willis from "the willis report", 6:00 and 9:00 p.m. eastern here on the fox business network. ashley: still to come the man who built a business out of the property crisis. he build it in a very profitable business. he is known as the data king in rental housing come up next. he is our special guest coming up next.

tracy: us take a look at your dow 30. split in half. hewlett-packard. your gal is struggling to a flat line. as go down to the floor of the new york stock exchange. the dow is going to go green. >> reporter: it might. always happens in the final hour. reversal. less talk about the corporate fees week. changes at the top. duncan brands, their chairman retiring. he is going to be succeeded by the ceo of the company who will stay as ceo. shares are up. we're going over, as you can see, two 1/4%. here is the news. but in the roles of their chairman as well as the ceo. staying s ceo, but the chairman's title would go to the former vice chairman of general electric is. of course has to be officially elected and then approved immobilized during this? that fund is really looking to

press for changes. having to have more of a sam the board by getting their slate of nominees elected. that is what they're doing it. that stock is moving to the downside on that news. back to you. tracy: thank you. we will see you in 15 minutes. all right. ashley: our next guest is the man was returns to when they want the very latest on rents in cities across the country to see, a properties are worth putting on. joining us now, founder and ceo of rent range, which has seen revenue jumped by 1900 percent in just the past two years. a reason to smile. thank you for joining us. we appreciated. okay. let's get right to this. what exactly does your company do and how did you come up with the idea? >> we provide rental market and rental property analytics. we can evaluate what is going on in the market from the rental perspective. how strong the market is

immobile because vacancy rates. a good area to buy a piece of rental property. then begin also evaluate individual properties and say what the route will be for that individual property, the vacancy rate, how the property will perform, a stable market are not , right verses in town suitable for the area. just a lot of information to determine if it is good property within a good market to purchase we came up with the idea because relief last -- a long, long time, more than 10 percent of the single-family housing stock has been rentals. it has garnered a lot of attention from wall street and institutional investors of last year's. has really been a big part of our market for a long time. ashley: those are your customers, the institutional folks. then, what did they pay? i mean, you know, what kind of money the make on that information to back. >> our clients paid anywhere between $6 for a single zip code or $12 for an initial address to

$50,000 for five years or the historical data and a one-year move forward. hundreds of thousands of dollars towards addresses had a much slower progress price. ashley: do you have a lot of competition in this marketplace? >> really don't have any competition that can do what we do like we do. we have been doing it for a long list and have the largest and most well scrubbed single-family rental database. really was that i know of with enough rental data, single-family rental dated to be able to run the analytics that we can run. wheels of the most experience. we have been doing this for a little over six years. before wall street was paying attention to the market we learned how to get it right in that market. so i have not seen anybody really come up on our heels yet. ashley: i was looking through your notes and you factor in whether tenants have dogs or are smokers, so you really get down to the nitty gritty, dougie? >> well, we do is we get to normal rent, taking their rent in our database and normalizing

our credit risk and at smokers and different premiums or discounts that have been applied to the rents in our database to be able to tell our clients what up our route would be from marketer property. ashley: what trends have you seen, as we do this day special, you know, daylong special on real-estate, trends are you seeing from your perspective? >> well, a lot of good movement. obviously a lot of velocity with the institutional investors moving in and starting to buy a substantial amount of homes. one of a really positive trends we have seen is a lot of displaced and distressed home owners would like to stay in their neighborhoods and keep their kids in the school system that there currently in. the institutional investors and providing good housing inventory for them to rent and stay in suburbia instead of moving back into multifamily dwellings. riyadh also starting to see a really big deviance between multifamily behavior and single-family behavior. there are markets where there is an inverse relationship between single-family homes and multifamily homes to say that one rant, once ran will be going

up or down. ashley: investors have a positive effect on home prices, but are they trying to get everything that they can at rock-bottom prices? >> you know, they don't really have to. they're looking at cash flow markets where the rents can give them a positive cash flow, even if they're playing close to positive cash to the properties. there will be a capitol expense to get the property rehab and ready into good condition for a tenant's rent. so plenty of markets across the country, you can provide equality rental property without haviig to give a deep discount on the purchase price. ashley: very good. fascinating stuff. thank you so much. renderings. very interesting, indeed. thank you. >> inky for having me. tracy: good info to have. ashley: a markets for everything. tracy: out of you. still to come, i love this story. jeff flock is in illinois where one company save an entire town. you are out there.

>> reporter: it sounds a rough neighborhood, but it's really not, and it is all because of one company had decided to take on one town and bring the housing market back on its own. i will have the latest. ♪ i turned 65 last week. the math of retirement is different today. money has to last longer. don't want to pour over pie charts all da i want to travel, and i want the income to do it. ishares incomes etfs. low cost and diversified. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. [ whirring ] [ dog barks ]

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♪ >> reporter: i'm here with your fox business brief. corn prices under pressure as the department of agriculture passed a record-breaking budget. usda expects domestic supplies will more than double next year. atari is reportedly looking for more time to figure out a bankruptcy plan. according to dow jones the video-game maker has been on the hunt for a buyer or buyers since filing for chapter 11 back in january. they say the outcome of the sale process will directly affect have it repays its creditors making it hard to come up with a plan. in the u.s. postal service is warning it will continue to lose money withheld from congress. this after pouring in nearly $2 billion loss during the first quarter. postmaster general says the agency is considering its options, including another possible price hike. that is the latest from the fox business network, giving you the power prosper.

♪ ashley: a special series, the business of real estate continues with a look at an illinois company that turned an entire town around after it was hit hard by the housing crisis. jeff flock is an carpentersville, illinois. could have been going to the docks. reheard that, but it is a great story. >> reporter: yes. the company also engineering, manufacturing company that makes switches for motorola, john deere. in the company said to you know what, we are getting all these foreclosures in our town, border the palms. we want to do something to help, so they started buying a home here and there. trying to help out, just helping along baca the time. how many homes have you bought today?

>> over 250. >> reporter: 250. did you ever have an idea you're going to do this? >> started out small. we fell one are to and maybe get the neighborhood up and going but in this noble and we saw more and more foreclosures. he said let's keep the ball rolling. we will fix this town one boss at the time to the house the time. >> reporter: had done know if we have the aerial shot of the company. this is -- was rita rihanna? >> del rio. >> reporter: they just told this house after completely getting it. i will show you. the company, you employ about 500 people, but it is not a realistic company. you're a manufacturing company. >> remanufacture switches and grips into a communications but mack amazing. he take a look as some of the before and after pictures, we are in here. we will tell you, not only buying the foreclosed homes, but selling them to the community. and you have had tremendous success. >> yes, we have, especially in the last 45 days.

>> reporter: you're not trying to make a profit. i know it is nice to get arrested commission, but you're actually just trying to do to help the folks that live here. >> yes. as far as auto engineering is concerned, we just want to break even. >> reporter: that is amazing. take a look. this brand new kitchen. stainless steel appliances. you do these things for free. >> first class. we add extra insulation along the walls. all brand new roof, she think a marble floors, ceramic tiles, brenda reis doris, driveways, landscaping. we do all. >> reporter: 250 plus units. how much money have you had invested? >> over $10 million invested in metal bell, another 6 million. >> reporter: one of the neighborhoods. >> yes. in morningside, little town home, 6 million. and we also have 4 million finance investment. >> reporter: was going to say, because people sometimes can get

a bank loan. that credit. it will go ahead and sell or finance it. they have money put aside so that they can do that which definitely opens you up to more people. plus, a $10,000 off to any veteran of military service. so it is a great story. just great to tell a story. ashley: it really is remarkable and allen has grown so much. tracy: like a guardian angel. ashley: there really are. thank you for bringing that to as. tracy: love it. good to hear this story. now we have to tell you the other side because everyone has a housing more story. sullied we have been asking you for yours, and here's what you tweeted this. apparently that is is whether handle. he said, trying to buy, and san diego, but investors and snapping up homes sight unseen with all cash offers. and believe that. in virginia beach inventory is low. only five months. home prices are inching up. buyers have your house to pick from.

beach communities. not all bad. we have five offers in three days settled at 6 percent over asking price. you go, tom. look. it is time. well, he's happy. 6 percent. ashley: it is something. all right. just passed a quarter till. time for stocks, as we do every 15 minutes. that said that to the new york stock exchange. our good friend joining us now on friday afternoon. kind of creeping along. the dow, a bit of a breather. a big sign of a correction that we hear about almost every day. >> a lot of people trying to talk him down, but i mean, is this is the best that they can do for a correction i would say we probably should be buying with our eyes closed because they are going higher. you're right, but it is a quiet day, not much going on. i would say when one considers how far we have come in such a relatively short amount of time, they are entitled to go sideways

once in awhile. ashley: in all your experience this is a hard one to measure because we are in uncharted territory, but the summer swoon, is that still a real possibility? >> i think it is always a possibility. in the one thing that we know for sure, you know, if the market reverses to melo reverse for reasons -- nothing you and i are talking about or that anybody can anticipate. you can always come out of the field commander always catches as flatfooted. we are certainly overbought short term technically. the idea for correction. the real issue is what is the catalyst going to be to make that happen. ashley: that is true, and i guess if there's an opportunity to buy because we know there is a lot of cash that could come into this market. >> i think so. we continue to live in this zero interest-rate environment. it is sort of interesting because we have been in this environment for the better part of three years. all the sudden, you know, it is like somebody waking up and they

discover that dividend paying stocks, the fact that they can't get any money on their money market funds or the treasury's. this is not a new concept. it is obviously -- there is real momentum. probably a bit of a crowded trade. for the moment that is the trade. ashley: the only game in town, as they say. thank you. have a great weekend. >> you, too. tracy: if he can get hit at of left field, there is no hope. coming up, stocks on track for the third straight weekly gain immobile we will year from one strategist. the correction is coming next. don't go anywhere. for seeing your business in a whole new way. for seeing what cash is coming in and going out... so you can understand every angle of your cash flow-

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♪ tracy: all right. stocks on track for the third straight week of gains, but our next guest was that the correction is coming. joining us, senior equity strategist. okay. we have been hearing is. five to 7%. what will be the catalyst that finally knocks this market down? >> i have to clarify one thing. i have been bullish. one man trying to say is, you have to be prepared for it. and, you know, like the other guests said to my don't know if i know what the catalyst will be. there are a lot of things that of a move this market lower that haven't. brushing aside bad news. earnings a mediocre. only 03%. the market is up 30 from our lows of last year. next week we retail sales which is going to come on monday. i think that will be one to watch, looking for negative readings. but everyone is excited, they are euphoric right now, and if you are short seller you need to know the the market can stay

your rational order then you can stay solvent. that is it. there is no, you know, tell as to when the market will sell-off. just be prepared. tracy: you make a great point tamandua not alone. we talk to tons as more people say the same thing. cattle on like this. the same time, it is preventing people from getting in because they're saying, it will fall over any day now. it's is not. bring up earnings. look, 90 percent of the s&p 500 companies have reported this bark. your thoughts on how the earnings season has been? >> it is extremely mediocre. and a moment in time, if there were other assets across the world that people could invest in, if europe was good, china was still roaring strong, if other countries like the bricks were still strong and we would see money moving out of america, but since america is the best shot mediocre earnings are good enough to read what i am scared of is the fact that we have no growth. and analysts keep pushing back the rest of this. the second half of 2003 there

needs to be 11 percent growth. companies have not won yet, and if they do i think that is going to be the catalyst. for now it is by, keep going. by carefully and buy quality and buy those lowered the company's. tracy: you know in your heart is going to happen. you just don't know wind. you mentioned retail sales next week. you have urban outfitters as a pick. there are still buying clothes. >> i shop at urban outfitters. the company trades at 22 times earnings. it is rich. but is 10%. for the first -- the current quarter. i think we will see a surprise in upside for all the course. looking at the weight has been trading, we have some upside. i would not go all land, but they're is a little upside. tracy: over-the-counter medicine. you like this. >> i do. the thing, you have to remember, the stock has been on a tear.

if you look at the chart, this thing has been on a rocket ship trading at 17 times earnings, and it does not have the growth that something like iran outfitters as. the stock moves lower. that is the time to step in and buy. i like their story. with obamacare it is benefiting a lot of this. so there will shine. tracy: you're great demand thank you for your insight. you have a great weekend. ashley: well, this weekend it is all about mom. three different surveys showing americans will spend between 17 and $20 billion on our mothers 58% plan to spend as much as last year. 17 percent planned to spend more. what are they buying? treatments and brushes as the gift of toward choice.

tracy: they but nothing. ashley: there you go. expect nothing in you will always be surprised. tracy: the dow is almost in the green. the battle over the breakup. talking smack. investors should short the stock a couple of analysts. very different views on it, and they will duke it out. don't go anywhere. all stations come over to mission a for a final go.

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investment in the japanese -- the economy. a summer sell-off. one successful money manager says stocks will take a summer vacation. we show you how to heat up your portfolio, even if the markets cool off. the billionaire breed of battle. hedge fund tighten just a lot pecans -- becomes the latest. we have a rating from both. experts that let out of the stock. ♪ liz: it is of little cliche to say happy friday, but i am going to. so glad you're with us on this friday. the last hour of trading. the biggest news with all the marketing permission we have been giving you, you could argue it's coming out of the world's third largest economy, and that is japan. but get this chart, falling to its lowest level against the u.s. dollar in for a half years. why does this matter? well, it bodes ver