back after vacation. of his. >> tonight o t "willis report" everything you need to know about the housing market right now. it's also the middle-class is getting squeezed for every dime now taking out loans for daycare. had to turn a part-time job into a full-time job? tonight. "the willis report." gerri: in tonight's top story home prices ought not so largest gain in seven and a half years at from a new

report of the national association of realtors but the sharp jump of sales will level also where are we headed? so now intthe direction of the housing market the ceo of quken those that is the third biggest lender in the country in the biggest on-line lender. great to have you here. write-offs about where are the rates headed? you said it would site now we have seen that so where do they go from here? >> it is a great question i wish i knew definitively but it has made statements causing rates to go up a little bit based on the tapering measures. if it continues to buy the bond i thought it could still -- stabilise as part of the ethics dray. there will be a little

latility by unc those rates may be they edged up over the next six months. gerr did the fed paul gold the taper talk? >> it is hard to say that. any time it telegraphs what they might do it will cause the market place that could be irrational to react. the process keeps rates artificially low so if they start stepping away from that it would cause them to be jittery. gerri: hundred bas points wi the big swing their anyone to refinance the mortgages and happy with that that leads me to the next question are people too late to buy or refinance right now? >> absolutely not.

said you have to step back to think historically how low their rates really is interest rates affordability at the all-time high prices are starting to come up in the housing market starts to yield is an excellent time to get a home but also a good time to refinance. there is still a lot of folks that are under water. is a very good time to be in the housing market. gerri: there has been a pretty dramatic rise of housing prices. there has beenncreasing 80 percent of cities the median home prices went up over a 12%. the feeling get this.

>> inventory is pretty tight right now so you see some pockets that they put the offers and to have a bidding war in a sir marketplace. so that is the driver of inventory. so maybe they would not move as sharply as they have but what is the economic picture happeng with jobs? what is happening with the housing market or the low prices? we have to keep a close eye with the economy. gerri: absolutely. that is critical. your b product is the adjustable rate mortgages. are these the same arms that got people into trouble? >> first of all, i don't know if they are a big product for us that we talk more about them but to ian's ur question, no.

arms to not get people in ouble but what got people in the past was a negative in mergers asia and the state's of fully underwritten amortizing five-year, seven year or tenure adjustable-rate mortgages a fantastic program for a lot of people. if people are there home between 5:00 a.m. seven years if you're going to be very short period of time i would be paid a premium to have the 30-year fixed-rate that could be higher when you could have the five or seven year fixed and adjustable-rate mortgage to allow you to have a loan payment or advertise more quickly so for the right person it kes sense with the adjustable rate product. gerri: it is different from that product the aged -- the edges have been taken off but you are the only people

wh off eartha mortgage that you call your own rates. had to do that? i could say i won that last 12 years into underwriting for me? >> it is the merger is a sham process. if it is a 50 or 25 year or third year you could literally have what you want some of b.c. people to over the last 24 months over the reef aid -- refinancing to cash in to bring mney to the table or shorten the term to build up equity faster. why go ack to the 30 year? that payment is something you can't afford etiquette's five years off your mortgage.

if you know, what the payment we have te opportunity to do that. >> that is less interest ople are very concerned whether corrected or anybody else that getting a loan is so difficult. why is it that people have a hard time to qualify for the mortgage? does that play a role? >> it is clearly more difficult to get a mortgage credit standards have been pretty similar but it is more difficult than it used to be. but what plays in to it that people don't talk about is the fact of governmental

agencies to sue lenders for things they have done in th past we have things happening that if i will underwrite the loans to take up the rest i will make sure i will underwrite correctly because i cannot afford aootball it could be a combination with the risk associated withhe residential mortgage industry. gerri: i have to ask you about detroit yo city -- company fond of the city you have a bright shiny new buildings so what does detroit we do to make it out of the bankruptcy? >> there's been a lot of great things hpening and we have been involved with that over e last two or three years to invest in the city. private investment is that

the all-time high. that is certainly difficul but it is long overdue that this happened so we have to address the problems of this city in the bankruptcy is difficult but it is giving us the opportunity to deal with legacy issues to come out the other side. we have to get through the bankruptcy process and that will take time but as we look at this we're bullish on the straight that they have great balance and great infrastructure to have our renaissance like it deserves gerri: great's information we appreciate you coming on. , back. >> my pleasure. i am happy to come back. gerri: a lot still to come

how to turn your part-time job into full-time and the they are sendi your kid to college but what about loans for day care? i am not kidding. we will talkbout it. next.

gerri: no doubt the pressure is on the middle-class with loans for nursery school? a pilot loan program for famies to pay for day care. the of a personal finance expert i cannot think of the better panel. new york city has a loan program talking about college financial aid $1 trillion of many outstanding does this make financial sense? >> no. it is a bad idea all-around i understand they want their kids to go to the best day care or preschoolnd paying out with the exclusive group so i could see why they want to get in on the program but it is a very bad idea. gerri: in new york city it

is a different world with the kids. friend of mine talked about the pta mting with the mothers for a green because the kids ian kindergarten were not getting homework. justed give you a sense of how we aired this place is but when you look at something like this is assigned the middle-class is under incredible stress? >> it is. all americans are under incredible extract its right now only 27 percent think this country is headed in the riggt direction. we have unemployment hovering above 7% in the labor participation rates in seaq feel the stress all-around we cannot provide economically because the economy is not tere but they have noo worked. gerri: 6% interest-rate between the ages of two and

four years old and up that $11,000? scientists and the going rate is $30,000. pile othe debt? >> it is a bad ideahey already have enough that in general with credit card or mortgage or consumer debt also defaultsaxpayers to be on the upside understand why they want to get in but i think they cannot afford to so they shifted because once you get in on the market than it is private elementary, middle school, a school, and it escalates from there. >> was reading the media accounts of a stock $4,000. we're not making more betty we are making less money. >>. lou: to your kids to do well but is this the first generation where kids don't have a better lifestyle than their parents? >> if you look at the polls the majority of americans

believe that we saw that change april 2009 arab-americans' chan their ews that every generation that it would be better off but we don't have tt hope anymore we see that everyone is earning less money in making less money and things cost more gas, food, a daily living. so there is a bigger problem than just providing child care. >> in the of millennial summer it tough position living a komondor, underemployed or unememployed in delaying a buying a house coming getting married. gerri: but to give pushed faxes is what the parents would say by the time they hit kindergarten they scored twice as high from those of core households so you can see the pressure to get the kids started in the right direction early. >> is already very

competitive especially the upper east side now -- sharper. give them all work. [laughter] >> people are delaying having kids are keeping what they have at one. what are the long-range consequences? because we just think things will get better or get richer or have better jobs. you have to think that way by people of making concessions that surprise me >> they e. i amoptimistic that one of thos that is wondering should i even have kids? at is a selfish of me to have children? that is when you ha to think about these in the bigger picture. people jt not making the money they want to make and they don't know if they want to bring money into this generation think of medicare, social security

now we have obamacare? if we have less people in the nation and working less people put their dollars into a the program. >> what is the right answer? moved out of new york city? >> i don't know. we go out and read by a and so we have limited it so maybe that goes back to having to. >> but i don't like the trend right now. >> i don't either. >> this should be an expansion people should be doing better this is not what we are used to. >> it is always great to have the ladies panel. >> restaurants across the countr are refusing to ut

serve kids after dar how to turn that frustrating part-timejob into a full-time position.

gerri: attorney a part-time job into a full-time career has nevebeen harder

>> the u.s. is fast becoming a part-time nation despite all those rosy research reports across the country but the reality is this most of the workers are clocking in at less an 30 hours per week.

have deterred a part-time job into a full-time career? , author of the book what color is your parachute? you are the perfect person for this segment yours was the first job spoken the best. thank you for coming on the show. i appreciate it. these part-time job are so common 75% created this year are part time, an awful time so why is it so difficult to find a full-time job? >> the employers sees it as a cost with this economy they keep it as low as a key and so they can accomplish what they need to accomplish using part-timers it will only grow as the demand increases. gerri: you told o producer

that every job today is temporary. what do you mean? if you think job as mortal they have the much shorter life i'd been the aff is used to face the fact you will lose the job sooner or later so you need to be prepared zero ways to go job hunting and not think this is where i will spend the rest of my life. gerri: u are making me a little anxious but if i am is a temporary job, how do i turn that to a full-time job? what are the three steps to allow me to do that? >> the first one is you have to be an extraordinary employee with the things that we are all aware of, in 50 minutes early, as a 15 minutes later and to achieve

the work and to get along well with your fellow employees. second is keep asking yourself every day i of here because my employer views me as a cost what of my doing to see there is value in the work by introducing? ask yourself every day what are the employers goals? >> and what you said was interesting is you should keep a log of your contribution over time. said write down what you did that propelled the company for word or when you have to defend yourself or just asking for a raise you to go back to say this is what i have done. >> you have to make that the discipline every weekend yo spend half an hour or less

to keep that kind of a journal then summarize on the one-pe paper natalie give it your supervisor but there's also once a year or maybe bar often in that would justify you cleaning i have such a value here you may wann to consider hiring a full-time not just part-time gerri: that is a great argument. when was your book first published? >> when dinosaursere roaming the earth. [laughter] >> self publish in 1970. a new edition of every year i preconceived the book every year. gerri: every edition has something new. it is great to talk to you. thank you so much. it is time for a look at the stories you are clicking on. the end t a down week on wall street with all three major inxes ending in the

red after the dow and s&p hit tte all-timelosing high but price line.com also was close to beinghe first talk to ever cross $1,000 and investors jumped on board after better th expected earnings. bob eiger speaks exclusively to dennis kneale as they held the the decks go either stand tuesday will have a bunch of new products despite the flop of lone ranger he said he is happy the way business is right now. obama neece it clear he has no intention to stop the ily collection of phone records he promis appropriate reforms houses it isarried out the stops short to say what they will be only they will be working with congress. those laws stores right now on fox business dhaka.

we have more coming up georgetown has a new program to pay for your degree we have a report. and kids running around. you have seen this price so now restaurants are beginning kids. is a legal? we will get your reaction.

♪ gerri: our taxpayers picking up the tab for a new generation of lawyers. loophole, pricey georgetown university law school is offering students free tuition if they go into public service for ten years. it fox business rich edson is at georgetown university with the

details. say it ain't so. >> reporter: good evening. first, it is prettyttractive considering the price of law school, if you have ever exported. this is on the georgetown website. the program, federal program and the program they have here means public interest borrowers might not pay a single penny on their loans ever. that is pretty good, considering that this law school, which is a pretty good law school, a top tier, and others are expensive, this 1,229,5 years, room, tuition. the general government will lend you the entire mountain on average you end up with about $150,000 of average debt a graduation. here is up where -- here is where the loan repayment comes in. if you commit after graduation to ten years in a public-service job as an attorney, if you are less than $75,000 per year, the federal government will forgive your loan balance after ten

years for an average price of $160,000. the student has to pay 10 percent of their take-home pay as parttof that deal. on average 45,000, but the schools catch which is what the school advertises here at georgetown and other schools, the school will reimburse that paent of $45,000, so you get the law school for free. here therick. georgetown and other schools are simply increasing their tuition to cover that portion. >> a school's job is to maximize revenue and get as manyeople enroll for the highest price possible. and still maintain their prestige. so it is not surprising to me that georgetown law figured out that they could charge a high tuition and get the taxpayers to up foot the bill. >> reporter: a new america fountion is saying may increase tuition. that bill was part of loan

forgiveness, and while it looks like they're being generous, maybe not so much. georgetown says, that is not the deal at all. a "saying these bonds, primarily from tuition paid by students either through their own resources are federal laws that are fully repaid at up to almost 8% interest. they say they put $2 million in the this program and expect that the costs will rise. $2 million annually in the costs will rise. gerri: let me just say this about that, how, as a taxpayer. thank you for that report. disconcerting. >> thanks. gerri:ell, we pay for everything, don't we? how about this, restaurants around the country are putting in their own special order, hold the kids. a mexican restaurant in texas becoming the latest establishment to refuse service to children. in this case past 7:00 p.m. of course they wreak havoc on

other patrons, but to bar kids from restaurants, is a legal? joininge now, attorneys. welcome a discrimination law

called the reason -- least restrictive means. children under the rubric of family status or is discrimination in public accommodation. the position where there could be a separate room. that will be offending anyone. gerri: now i have to have a room fo kids? >> it is likened to people taking their kids to a baseball game and sitting in the beer section. gerri: if you think about as -- it presents kids are entitled to up protected status. the lodge's does not go there. children are ends the title to this. gerri:ere is what i am thinking. kids and adults. ephemeris from paying the bill and panda waitstaff i should be of a cut anybody wants to. >> as long as you d don't kick

them out based on a legal principle -- gerri: noisy, and directing the other people. >> is someone is trying to have the right to not be served. when it comes to this there is that issue. if the restaurant can do something that could still let people hav of a nice dinner and be with their kids, like you said, when my kids when they were little they were angels and if you believe that -- gerri: but lori is three years old. >> three and a half. not going to of fine dining establishment. gerri: so you don't take into these places. >> correct. that is what the marret will dictate. these are restaurants that were family friendly that were imposing these types of policies which it will haveo interest in doing you would have a public outcry that this is not right. gerri: my question. you guys are obsessed with discrimination on this conversation. i think the only people being discriminated against our young parents. >> that's why i believe ere could be an issue with family status discrimination being

recognized in certain states, noty federal law but by seven stat. if there is a nation with billy -- it will be within that room. >> there are plenty of restaurants that cater to families,o we're talking about the restaurants that will impose this type of policy, the finer dining places where quite frankly children should not be any way. gerri: so children eight and youngbear are permitted. the sushi bar, 18 and under band. big headlines banning kids under six years old. it is not just necessarily highfalutin restaurants with white tablecloths and it is a lot of restaurants that don't want to have kids there. the end of the day if you're running your own business and not discriminating on the basis of racor religion, come on. i think you ought to be able to do what you want. >> in the end there is validity to that. hower, a creative and craft lawyer can look at this -- gerri: as y are. >> exactly true, especially

defendg the little guy and get into the least restrictive environment situation. a family status and reverse age discrimination bassist. >> easily dismissed because you need a protected status to get -- gerri: and you don't have one. >> that is where great minds will differ. gerri: all right. good job. thank you for coming out tonight. good job, dficult topic. we want to know what you think. are you annoyed by kids and restaurants? log on to gerriwillis.com and vote on the right hand side of the screen and abbas said the results of the end of the show. unbelievable, right? well, one of the common answer is you have given to our question today is a depends on the restaurant. and tonight's top five, the most kid friendly restaurants according parents. number five, pf chains. family style chinese food chain has a lot of favorites. space get special chopsticks and many other toys for the table. red robin. healthy options including

mr. burgers and offers parents and easy to understand ingredient menu. number three, chilies. the tex-mex chain keeps expanding its kids' menu. number two, bordeaux, chicago world. wide air fares and in recen years including whole grain pastas. kids and some restaurants can even put on an apron and make their own pizza. the number one kid friendly restaurant is -- the restaurant offers everything from the basic chicken finrs to what grilled fish giving kids and of which entity to be a little more adventurous. kids fried's -- kids fries are not salted..3 others on the lt, mimi's cafe as we to make up. an update to a little story. it might make you think twice before opening your curtains. a manhattan judge has ruled this guy can keep snapping photos of you and your children in your private moments while in your

apartment. to paren sued. he started sellinghotos of the children in the new york exhibit. some of these bottles went for $10,000. the judge ruled artistic freedom trump's privacy concerns and dismissed the case. when we come back we'll take a closer look at how men and women approach diets. we believe in very different ways. and investors sending the markets through the first weekly loss in six weeks leading many to ask if stocks are overpriced. answers coming up. ♪

gerri: the price now might be brought -- the price not might -- the price might not be right. the s&p 500 has been breaking one record after the next as profit growth continues to

stall. the disconnect is pushing stocks to the highest price to earnings ratio in nearly four years. our stocks overvalued? joining me now, president of cold balm capital management. welcome back. were stocks overvalued? >> completely. it can get muchore overvalued. theed pumping 805 billion per month. back in 99 yen at price-earnings multiples in the '20s. as a matter of fact it was about 40. gerri: only 145. how can you say that is too expensive. if you compare it with other times, like you just said, during that dot com don't talk 30 * multiple? and no we are at half of tha how is tha expensive? >> some have it at 14, 16, 17. you have interest rates that have been mapulated down to zero. interest rates normalize, and it will one day, either b the fed or the market itself, once that

normalizes i can promise you that we will be compressed on a price-earnings multiple. this year the market is up 18%. earnings growth is a big fat zero which means it is all valuation trickling hire which will end eventually. gerri: does that mean you are selling stocksight now or not buying? >> i think there are areas you stay out of. interest rates go up. i would be at an interest-rate sensitive everything. housing, real-estate stocks, things likehat. commodity stocks are starting to pe u. i like the field. i have been bearish. its a rotating market right now. gerri: do you believe we will see a better economy? will that trickled through broadly throught the s&p 500 market? >> the same thing i have been saying for a couple of years. the economy will be okay one month in the next it won't. we are in no one's right now for gdp.

that is really not good numbers. the potential for the economy will be hit. not only nationally, the states. regulations are getting bigr and hitting business. i still think there is a big dose of uncertainty out there which is why you still see unemployment in the sevens. until we get into the low sixes and fires, i don't think the economy can look for help in any meaningful fashion. gerri: we just have to get rid of this employment problem. next week is a big one for stocks. what do you see as the important ones here? >> this coming week there are a few things. for met is all about the fed. all this talk. i hate the word, but they're talking about tapering. last time they did, the market got hit. they had to row the back. if they srt coming out talking about caperin i think the market is due for a good five to 10% on the downside which would be quite normal. we have not have won all year

long. gerri: i hate normal. wednesday bl has produced a price. thuray consumer price index. just fyi. if you are looking to next week, there is your chichi. thank you for coming on. great to see you. >> my pleasure. gerri: we have more, my "2 cents more." men and women even diet differently. the best approh for each gender, we have advice coming up. ♪

gerri: men and womenay be from different planets, but do they need to diet differently?

♪ gerri: you know the battle of the bulge. i'm sure you have fought it. i have. it i one that both genders face. research shows men and women died differently. what is the best approach? a celebrity weight-loss coaches here, author of thinking growth. so many questions, but let's just are with this main question about how men and women died differently. how is it different? is it always the same? >> i know personally what it feels like a male having once weighed 360 pounds as a teenager. i was out of control. i could have been the king of excuses. men and women come to my office often times with a whole litany, script, if you will, of a story of why there are overweight.

charles really there are distinctions, i think that the differences between t sexes or genders, there is really one major issue in the mind set. something is missing in his proach is that you read about, the different diet and exercise programs because if it was just a diet or exercise program or dvd your machine, i don't think we would see the problem and i once had. something is missing. the real missing component is out to recondition youmind set. gerri: we will get to that, but let's talk about men and women. realize everyone has an excuse, but from what i read women prefer to think about this is about bein about nutrition and sticking to a diet. men think about gettingn shape. who has the better edge? >> i don't know if it is a question of right or wrong. i think it is better or best in

the sense that you have to ask yourself what is important to you. as a female, a person like yourself who struggles, perhaps it is getting into a dress or licking your bes or dealing with emotions. for a male it's having muscle or being stronger. you have to find a component for you. really start doing what you need to do to get yourself to where you want to go. abandon the story as to why you cannot. all ofhe articleto read today are all about genetics. predisposition -- predisposition. gerri: that's not enough. i want to ask you a question about your own personal situation. we have pictures, but before picture of the looks nothing like a man in front of me now. you said you would gorge on junk food in front of t tv, descent and the. >> absolutely. gerri: how did you get a half? >> it was an epiphany. it wasot one thing. i have counselors, family

members and friends telling me i might not live to see my high-school graduation. by the time now 17, unable to evenly on the bed and see the television set in front of me being in that place, being scared for my life and seeing the family that i have around me on my father's side,,to the glove. so i developed this mental association very early to change our fault. very believe, different from all the other boys. and i use food to cope. one thing i thnk people should consistentlyo is change the field. if you want to let referring your help from their habit you have to take responsibility. chronology neurobiology has to be your destiny. you can make a decision and alter your tauruses and thereby change our whole destination. after coming to terms with that i made the decisioto change. gerri: thank you for coming on. i could talk to you for an hour.

i have more questions. have to come back. >> everye can do it. don't li

♪ gerri: and finally, you know, forget the naysayers. and selling rates and the buyouts of the room. mortgage rates bites, but you can still get a 30 year mortgage for under 5%, and that is a steal by historic standards. earlier this hour i spoke with the ceof quicken loans. he said he doesn't see mortgage rates going much higher. of he also said the best thing for mortgage rates would be that the federal reserve shuts out. i could not agree more. bin bernanke's job causing rates

to shoot up the full 1%. the better it is. that's my "2 cents more." that's it for tonight and "the willis report." thank you for joining us. it. a great night. good night from new york. >> the president means it when he is says it is a phoney crisis as we hear those conservative groups of targeting are still going colin and they are still targeting the tea party groups three months after the first one down there not let teeing up and with these implications of the house ways and means committee chrman says they're still the focus what the irs agent called up the secondary because the agency has not come up with any new guidance on the concept of a follow-up on that