stuart: which year was the dvd invenned? choices are on the screen. ashley, you're first. >> i think it is '92 or -- i'm going with 1989, number one. stuart: mark tepper? >> mainstream in 98 but invented in 1995. stuart: i'm saying 1989. okay. then is? tepper wins. it wasn't released to the public until a year later. the first commercial dv doctor. released was the movie "twister." got that? "varney & company" done for the day but "coast to coast" starts now. >> over the last three decades both democrats and republicans underestimated the ccp and pursued economic and trade policies that flat-out undermine our economy. >> we may call this a strategic

competition but it's not a polite tennis match. >> the ccp will bring a tote to tearian police state to the world. it will do so to an extent not even george orwell himself could have imagined. >> do you think china poses a greater threat to our freedom and the world's freedom than the soviet union ever did? >> congressman, i do. >> the harry houdini of marks sift lenin regimes, the criss angel autocracy but the magic is fading. neil: can you catch that last night? that is all everyone is talking about. you don't see a good old bipartisan bashing. democrats and republicans in full agreement. china is a threat. we better respond to that threat and fast, but how? we'll ask republican virginia congressman bob whitman who sits on the house select committee on

between u.s. and chinese communist party. the congressman says that party is over. why we can forget a military war. the national association of manufacturers fears we're already knee deep in an economic one. jay i am it months says american businesses could use help from washington. so could east palestine resident, don. he run as green house there. thing is he is not seeing too much green these days. why do you think that is? he too has a message for washington. kids, you might want to cover your ears for that one. welcome, everybody, i'm neil cavuto. very happy to have you with us right now. first to fallout from the prime time takedown of china last night. virginia congressman bob whitman, what he is i aiming too right now. congressman, great to see you. what happens next? >> neil this committee is about uncovering and divulging to the american people the true breadth

and scope of impact the chinese communist party is having on the united states and the world. our committee can't put forth legislation to pass it but we can put forth ideas and draft legislation to get it to committees of jurisdiction. that is exactly what we'll do. this has to result in action, legislation that passes congress. i think all of it will be bipartisan legislation. neil: as you pointed out, china inserted itself is in almost all aspects of american society, down to a lot of our real estate a lot of our businesses. they're everywhere. is it almost too late to at least easily extract us from that? >> well it won't be easy but we need to strategically isolate china. we need to make sure that we regulate their financial impact in markets that directly fund the ccp. stop the sale of agricultural lands to the ccp. stop the sale of critical lands around military bases to the ccp. build our ability to counter the chinese. that is different than just blatantly you know, saying no to

china it's about making sure we counter the capacity that they are building. that takes effort. neil, we have to do it at the speed of relevance. we don't have a luxury of time. we allowed them to catch up with this over the last two decades. this has to be all hands on deck call to get this done now. that is why legislation is so important. that's why i think you saw yesterday a true bipartisan effort to raise the level of urgency on this matter. neil: interesting, congressman, you're talking, we're learning that china is no longer a top three investment destination for u.s. companies. something has changed there. i'm wondering if companies that are entertaining doing business or expanding in china, should be prohibited from doing so by the u.s. government? many of your colleagues we're talking about that. what do you think? >> i think members of the financial services committee like andy barr and others talked about mechanisms to be able to limit those investments to make

sure that we know that they're not going directly to fund the ccp. i think companies are starting to wake up to that especially companies that have been bullied by the ccp to hand over intellectual property. i think they see it is not to their benefit to do that. i think they're looking for the government to level the playing field, make sure there is a set of requirements for everyone in the investment realm to regulate how investments might go to the ccp and enhance the chinese. listen, i think if we don't do that, we are feeding the wolf that will eat us. neil: you know, congressman, i'm just wondering are you and your colleagues ready to prepare the american people for this economic war? because as both sides pointed out we're kind of in the middle of one, whatever happens militarily. we hope nothing does happen militarily but it stands to hurt us a lot as it presumably hurts china a lot. how do you position the american people for that? >> well, neil, we have to, as we did last night, lay out to the

american people what the threat is, what's necessary to make sure that the chinese don't overtake the united states in the world economy and when they do that, they will look to displace us. it is not just competition. it is them being our adversary. we have to communicate to the american people that this is going to take some tough decisions. it is going to take some sacrifice. it is not going to all be an easy path. i think if we communicate to the american people i think they are ready to make that sacrifice. they know if they don't, the outcome will not be good for the united states in the long run. neil: you're right about that you articulated it very well, congressman. rob whitman, i want to thank you again. i want to go to jay timmons, the national association of manufacturers. he is their ceo. jay, you and i gotten into this in the past how far do you go to go after china and the risk is we both need each other. china seems to have the edge taking advantage of other american businesses, some of those businesses, jay, a you know are leery going too far,

because that is a big market for a lot of stuff they make and a big market for a lot of the stuff they sell so how do you address that? >> let me just start, neil, with kind of the gratitude i think that we have as the business community that this is a bipartisan focus and as you and i talked for many years china cheats and it has been a very, very difficult relationship but one that you point out is economically important, not only for the united states but also for the world. we do have 95% of our customers who live outside of the united states. we cannot make everything here to supply the rest of the world but, as committee chairman mike gallagher has pointed out it would be very important for us to start bringing together bilateral trade agreements with some of our other allies like the united kingdom, taiwan and others so that we can start to mitigate the damage that frankly china has caused the american

economy and american manufacturers. neil: you know, you speak of those manufacturers, jay, we're already learning a number of apple suppliers are racing to get out of china. easier said than done. maybe they think out safer and cheap labor confines, thailand comes to mind, vietnam. often times it is not that easy. they're looking at a big hit if china is hit. what do you tell them? >> well, look, i think we are developing -- we saw this a year ago. the national association of manufacturers was very grateful to have an address by president zelenskyy of ukraine yesterday. he was speaking to the american business community through the nama. and encouraging us not only stay resolved but also to be there once russia is defeated so that we can help rebuild ukraine. we gave him the commitment that we would do that but i think that is emblematic what we're starting to see in terms of the

world dividing between kind of capitalistic, free market economies and command and control dictatorial economies. and, it is a different style. it's different system. and it's one that frankly, if we're going to be supporting systems around the world, we want to support those systems that understand and embrace our democratic values and embrace free free-market capitalism. at least some form of that. so i think you're starting to see this divide occur around business leaders are making some very difficult decisions about where to take investment from and whether, where to put investment to. now one thing i'm going to say, neil, you and i talked about this, i'm so happy that the united states is a location, a destination, for not only foreign investment but for domestic investment. that is because we saw those great tax reforms in 2017. regulatory certainty and now infrastructure investment and chips and science act, america

is a perfect destination for investment and we want to see more manufacturing right here at home. neil: but china has a lot of those things we need for manufacturing and a lot of your members need just to do business. are you afraid that china closes that off entirely? >> well, look i don't think they are going to do that tomorrow and really not in their best interests. they know that but i think over time we can certainly start to realign if you will where our supply chains are coming from. that is not to say we don't want to do business with china. we do. at one point, how many billion people in china that is a huge market. but look we've got to have transparency from china. i stood in the white house when the supposed first round of trade agreements was signed. it turned out to be nothing more than a gimmicky sideshow. there was no transparency on the fact that a deadly virus was circulating around china at the very same time and now we're hearing from our own law

enforcement agencies and others about some theories behind where that came from and there was no transparency. we also need to see some things done here at home including permitting reform, focus on r&d and the tax credit. china right now provides a sorry, 200% r&d tax credit for their research and development and today we provide only 10% of that because it expired at the end of last year. congressman whitman would probably say. we need to get that done. there are many things we need to get done. immigration to help us make things, immigration reform to make the things that we've got to get done here. there is a lot we can do here but there is also a lot obviously that we need to do when it comes to the international stage as well. neil: to your credit, jay, you were leery of the chinese and what they were doing, you know, when no one was or very few were and a lot of your worst fears

have been realized here so maybe people will start listening. jay timmons. always good seeing you. >> good to see you, neil. neil: this is certainly of hot interest to you. we asked a very simple question online how concerned about you as china as an existential threat. man, oh, man, we got a lot of mails and texts. patrick said china acted hostile outwardly towards the world. u.s. is searching for alternative countries for manufacturing. the u.s. can hurt china more steeply than china can hurt the u.s. do recognize that both sides can hurt. many say it is worth the fight. we need to independent of china especially in pharmaceuticals. do something now. china has such a dominant role in the pharmaceutical arena. 80% of the key ingredient that go into them are dependent on things we get from china. so think about that. then we got michael who writes, citizens ever china and united states want to do business with each other.

that is not going to change that might be the case. if you hate the other guy, so suspicious of the other guy, things have habit of changing, history shows that we'll be all over that. meanwhile we'll take a quick break here. we're all over that lori lightfoot will now be a former mayor of chicago but before voters did her in businesses ripped her apart. it started with them giving her the business because they argued they were ignoring their business. ♪.

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♪. neil: for the fourth time in what, four decades a chicago mayor not reelected. lori lightfoot didn't get it done. a lot of people say a lot of thate apprehension and anger with businesses over crime. garrett tenney has the latest from chicago. hey, garrett report. >> reporter: neal the rising

crime under her. she won just 17% of the vote, coming in third place, behind cook county commissioner brandon johnson got 20. parmer school chief pal vallas got a third of the vote. they will do a runoff on april 4th. crime and safety are top issues for two voters. the two men have drastically different strategies how they plan to address them. johnson endorsed by politically powerful teachers union he was a strong proponent ever defunding police. supported a effort on county board to do that. he wants to raise taxes, take that money, funding from the police to invest in more social services to try to address the root causes of crime. here he is last night. >> we deserve a chicago that is better, stronger, safer for everyone. no matter where you live, no matter what you look like, you deserve to have a better, stronger, safer chicago. >> reporter: paul vallas on the

other hand is endorsed by the police union. he wants to tackle crime hiring more police officers and reversing certain policy changes which he argues restricts cops from doing their jobs. >> i want to thank the voters of chicago for making this campaign about the issues and nothing but the issues. [cheering] public safety is the fundamental right of every american. it is a civil right. we will make chicago the safest city in america! >> reporter: yeah, in this runoff it will be interesting to see which direction voters decide to go and whether they choose an even more progressive candidate and agenda than the city had the last four years. neil? neil: thank you, my friend, garrett tenney in chicago on all of that. if you think about it, you remember when the mcdonald's ceo was complaining about crime in chicago and that he had a devil of a time getting managers or workers period to come there because of the crime that he could see out of his office?

lori lightfoot, the mayor criticized that and criticized elitist businesses who were whining. it started with those businesses who of course found plenty of agreement with voters. it is what it is and she will soon be a former mayor. jack brewer, founder of jack brewer ceo. he was warning on this sort of thing t does feed on a city and area like a cancer. jack what do you think of this day after? >> you know, first off i'm happy to see that the people of chicago let their voice be heard but now the concern is, what will happen with all of those lori lightfoot voters and supporters of that progressive policy? you know you just pray that they understand that a man like paul vallas is sent there for a reason and whenever you have a single year where you have 3500 people shot in one city, that is 10 people a day shot. that is accounted for. not including the shootings they don't account for. there is a real, real problem.

there is a war going on in the streets of chicago. so you need someone with law enforcement experience, you need someone who understands really how to get to the root cause of all this gun violence. so you know, more progressive talk really scares me. you know chicago is such a an example for america. people all over the world see those numbers in chicago and just, you know, gives you a eerie feeling when you think about sending your kids to school in streets like that. so you know, i hope the folks speak loud and start to understand that you know, being progressive is all good but when people are dying, enough is enough. neil: yeah. doing a good cause or whatever is nothing if you're dealing with a good deal of crime all around you to your point. i know vallas himself, while his background as public school chief, he had a very, you know, tough anti-crime message but this idea that he can make chicago the safest city in

america, it is good to have a big goal but what do you think of that? >> i don't think that can happen but i think he can make improvements particularly with so many kids killing kids. you can address those root cause issues. 11, 12, 13-year-old kids pulling the trigger often in chicago. i think you start there. you start in the public schools. you have community policing effort hire more cops instead of actually going out and blaming them for the situation. you empower them. i think the community can get around that. the people of chicago, folks in the inner cities are sick and tired like everyone else is seeing, burying their kids, their grand kids, nieces and nephews. people are tired of that. i think that message will resonate if they have the right approach but address it from the youth first. neil: that is well-put. bottom line you have to feel safe first. the reluctance, jack as you

pointed out has nothing to do with the covid issue. it has to do with the crime issue. maybe this is a big reminder of that. always good talking to you, jack, sure thank you very, very much. >> thank you, neil. god bless you, my brother. neil: same here. the latest on the norfolk southern fiasco train derailment. the ceo of the company agreed to testify before the senate next week. how you do think that will go down? ♪. a points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.

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♪. neil: just confirming right now that the ceo of norfolk southern is indeed going to testify before the united states senate sometime next week i believe the 9th. am i right on that, tom? i think the 9th. so you know, that could be like a pinata session there. but again he agreed to testify about that train derailment on february 3rd in ohio. let's go to ohio where you find our alexis mcadams with the

latest including a governor returning to visit. >> reporter: neil, yeah you're right, he will be testifying next week. so we'll keep a close eye on that. this all comes as the epa continued to say for weeks now that the air quality here in east palestine is okay. in trying to even show that they were drinking the water here the other day to try to qualm some of those fears but now a brand new study is showing, neil, there are possibly cars againic chemicals in the area here in east palestine, ohio, as the governor is back on the ground at ground zero. this on your screen is the ohio governor walking and trying to tour what that site looks like as the crews on the groundwork to remove the contaminated soil that is just covered in chemicals. this comes nearly one month since the massive blaze that left this town in a panic. now an independent analysis of epa data has found at least nine air pollutants at levels that could raise long-term health concerns in this community.

researchers with texas a&m university were here in east palestine and found elevated levels of chemicals that they say trigger lung and eye irritation, headaches and more. neil, that matches up from what we heard on the ground from people live here. they have bin waking up with rashes headaches t would take months or years before the pollute ants would have serious health effect. they said the air around the crash site is safe but they offered to clean inside and outside of homes. listen. >> what we're providing in-home, inbusiness, thorough cleaning service as external cleaning service for homes and businesses. help to the community understand, in addition to the air quality monitoring, all the protective measures we're taking we want to go to extra mile to make sure people feel comfortable living in their communities. >> reporter: people still don't feel comfortable here. residents can request information from the ongoing

response here with the epa welcome center they opened the last 240 hours. the clean up is underway and sending soil what they say epa approved dump sites in around ohio. that is glimpse how many dangerous chemicals are transported across the country every single day. as we mentioned the norfolk southern ceo is set to testify next week. ohio senators are working on a bill to increase new rail safety guidelines to prevent something like this ever happening again. neil? neil: alexis mcadams in young town, ohio. i want to go to done elser who runs a green house business in east palestine. i would imagine, conn, that is pretty tough these days. how are you holding up? >> business is certainly slow. we, valentine's day is one of our big days. we had one customer. one of the hurdles we face is the perception, stigma that comes along with what's happened here. if we get past the environmental problems we've got to try to get past that hurdle it will take a

long-term, concentrated marketing plan to change the image from that plume or the train on fire back to the village we were before this happened. neil: so when you talk about the stigma, those outside of the town are leery coming to your town, right? >> certainly. your segment just now proves you know that there are things to be concerned with. they, if you had your choice to come here, someone else to do the shopping most people are going somewhere else right now. we have to change that. neil: what is it like in the town? i was talking to a couple of homeowners who were going to put up homes for sale. that is torpedoed with all of this. in fact even your kids in your community, no one wants, no visiting team wants to visit you guys. so you almost seem to be a pariah through no fault of your own? >> certainly and the media has made it worse than it actually is here on the ground. i spoke with several reporters were surprised when they got here it was not a ghost town.

a lot of people here, lot of businesses here are up and running. neil: that is interesting. do you, when you hear reassurances, i know the governor is going to probably echo this again today and others have said, water's fine, air's fine, everything is fine, they're still going after the company. the company, norfolk southern will make you guys whole, make up for what you've lost, are you okay with all of that? >> no. i think it is impossible to make us whole. in order to make us whole you have to turn back the clock. we're told so many different things it is hard to know exactly what to believe, to know who to trust. there are, there are hundreds of epa people here doing test continuously telling us there is no long-term effect. i think that might be where the confusion comes in. their term long-term effect, what is actually affecting our eyes and throats are two different things. neil: when they talk about things being fine, they might be fine right now. your concerned down the road if

that will still be the case, right? >> i think everyone is really big concern is our aquifer. several of our properties have municipal property but several of them have wells t will take years for chemicals to get to that point. long-term, certainly a concern. neil: those with wells, they're told to still drink bottled water. do you feel comfortable with town water, that it is okay to drink the water? >> yes. i think, it has been watered once a week. i don't think the chemicals will get that far in the ground that fast. neil: got it. don, best of luck to you. i'm sure the business will come back. it just takes time. everyone has to look at the big picture but you will get through this. thank you very much. don elz-rr. >> appreciate that. neil: a lot of you folks talk to, we get updates from them how things are going and we'll keep doing that. elon musk is back to being the world's richest human being.

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♪. neil: all right. it is, well tesla's investor day, first investor day in austin, texas. a week or two after he was in california to talk up, i have not entirely given up on california. kelly o'grady meanwhile in los angeles what this whole investor day is bringing. hey, kelly. >> reporter: neil, yeah, elon musk has a lot on his plate of course but all eyes will be focused on tesla today and a lot of shareholders have questions whether their ceo is all in. so of course the stock took a massive hit in 2022 but this year has been doing very well,

up nearly 90% on the year, down on the market today. investors will look for asions the company can continue that growth. i'm looking for three things out of today's investor presentation. he will unveil the tesla's third master plan a path quote to fully sustainable energy future for earth. this may be linked the company's foray in solar but could touch on portfolio of companies. a few months ago tesla few subjects will be scaled to extreme size to shift humanity from fossil fuels. will include sections about spacex, tesla and the boring company. second look for musk to address expansion plans. last year the billionaire predicted the company would sell 20 million cars by 2030 but flagged they would need 12 gigafactories to do so. ceo announced they would build a plant there, but finally we could get update on what is called the gen 3 platform. with existing model price cuts,

investor speculate that musk could tease model something in the 25, 30,000-dollar price range, would do a lot to reach the 30 million goal. musk is frequently known for missing the grand goals. on the whole, neil we'll likely see positive movement in the stock. this investor day. it is about hype, vision, not delivering bad news, neil. neil: because the stock has come back this year, he is back to being the world's richest human being. we'll see how long that holds. thank you very much. kelly o'grady in l.a. let's go to larry glazer what he makes of all this. larry, know i would be talking to you, 10-year note bond hit 4% i believe the second time since back in november. it is clear just under that rates are going to be a big concern going into this month as they were the prior months. where do you see all of this going? >> you know, neil, not even the brilliance of elon musk had the capitalist show and aspirational opportunity he is going to have

to austin, texas, today, can outrun the treasury market and when you see a 5% short term treasury, you see 5% cds, that starts to create real competition for risk assets and risk stocks. in florida, there are lines of retirees outside of banks. they're closing the bank doors. they're looking for that extra quarter, half a percent yield. that money is coming out of banks now. it is going into u.s. treasurys. so the u.s. government is competing with those very banks. that slows the economy. so, neil, it's very confusing economy. on the one hand you've got full airplanes, restaurants that are packed, low unemployment rate, strong retail sales. on the other hand you have concerns from retailers kohl's, lowe's talking about slowing consumer. that is leading indicator. ism manufacturing inventories are building. those are things we have to listen. those are the things we concerns we have the for the second half

of the year. neil: you talk about the cd rates and i get florida paper as well, that market is drawn to those type of rates and conservative investing. i'm wondering, some, four, 5%, that might not sound like an an enormous return, but sure gets getting your heinie handed to you when you lose it in equities. i'm wondering if that is a potential drain for the stock market, if people can figure four, 5% on my money, in a bank, beats the alternative? >> absolutely, neil. a 60/40 portfolio has highest yields in a general race. the yield on short-term u.s. treasurys, state tax-free is highest we've seen in 15 years. neil: wow. >> that creates competition from just about everything. not only that, neil, it also creates opportunity for retirees. they have had money confiscated from them. they haven't been paid on their savings in a generation.

they're finally getting yield. it is revenge of the retirees. florida make america florida, getting a higher yield right now. those papers in florida are showing you what's happening. banks have to compete. this is what led to the s&l crisis unfortunately a generation ago. so we have to be really careful here. but the fed is ultimately going to be successful. my biggest concern though is this put as toll on the consumer because it slows the consumer down. credit card use is rising at its fastest level in 20 years, right? auto delinquencies up 20% year-over-year. something elon musk has to be concerned about. all of these are a concern going forward. it is not apparent when you look out your window today at main street which is very vibrant but apparent when we listen to earnings. earnings are slowing for corporate america. which means higher multiples. which means money going into cds and treasurys. neil: quickly, first day of the month of the how do you think this month goes? >> i say beware the ides of

march. the good news this whiplash might be over, right? i think we have opportunities ahead. use the volatility. it wasn't the coast is clear, inflation is dead money supply is telling you economy is slowing. inflation will come down. the fed ultimately will be successful at this task. the question at what toll, how much volatility. we have to be patient, we have to be good all. we have to look to the future because there are opportunities in volatility. neil: got it. the month didn't end well for julius caesar if you think about it but i digress. good so see larry glazer. go to brian brenberg what he has coming up on "the big money show." >> neil we, have former home depot and chrysler ceo bob nardelli. if only randi weingarten got as upset about children missing school as the debt. we have more "coast to coast" coming up.

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and it didn't go to the supreme court to challenge it. all of a sudden when it is about our students they challenge it! that is not right! that is not fair and that is what we are fighting as well when we say cancel student debt! neil: i think randi weingarten was upset about this challenge in the supreme court to the president's plan to forgive upwards of $400 billion worth of student loans to the tune of up to maybe $20,000 each. the high court is sort of weighing that right now. we thought we would seek out a favorite student of ours not only because she is very smart, gets great grades, that is a concern of dartmouth opinion writer. good to have you back. how are you doing? >> thanks so much for having me back, neil. neil: let's talk a little bit about this and how you feel. obviously randi weingarten is saying this helped that a lot of these student need, they pile up

a lot of debt. they could use the help from the government, from us. what do you think? >> right. well, you know yesterday for the first time the supreme court heard two really interesting cases that are challenging the biden administration's plan on student loan forgiveness and i think you know, what we heard yesterday was the supreme court consider two key questions, right. the first is, the question of fairness, which is one that i brought up when i was, when i first voiced my opposition to these sort of broad student loan forgiveness plans. the second question, the student, excuse me the supreme court considered yesterday is the scope. is it within the biden administration's executive powers to implement such a plan? neil: do you think it is? do you think it is? from a legal perspective the

biden administration is invoking the 2003 heroes act which suggests very narrow admissions. the language of that act is national emergency, you know, folks in connection with a military operation. so there is a really interesting legal conversation there. the other interesting back and forth i think we heard yesterday was between justice alito and solicitor general prelgarde, the question on the major questions doctrine which essentially says questions of such broad and economic political significance should be really left to congress and the courts to decide. that is something that i agree on, right? like you said, this is $400 billion of federal aid being allocated to the program. i think on fairness grounds there is a lot of scrutiny that needs to be applied to this. i argued last time this being regressive policy. on that ground scope and

fairness a lot of scrutiny needs to be looked on this. neil: if they support when the president wants to do, seems unlikely, initial reading from their question, what do you fear happens? >> well in that case, neil, i think this is, this is a situation that congress needs to take action on, right? one of the topics touched on in yesterday's oral arguments was, inaction from the legislative branch. this has become an issue of real national importance. and you know i think more attention needs to be drawn to what are the tradeoffs in this policy and who are the winners and losers? in my opinion, you know, those who are bearing the burden of paying for this plan and who are kind of getting the losing end of this plan are americans who a, saved sacrificed, repaid their loans, and b, americans who never took out loans to begin with which too be clear is the vast majority of americans,

right? less than 1/5 of americans who even take out student loans to begin with. neil: interesting. we'll follow it closely as i'm sure you will. thank you very much. good seeing you again. in the meantime here we're not remiss what is looking at the corner of wall and broad an uptick in the markets here but we've also got concerns about housing right now. overall mortgage demand hit a nearly three decade low. we're on that after this. ♪ this man needs updated covid protection. so does she. yup, these guys too. because covid is still out there, and so are you.

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julie: the worst has been 30 years, with applications dropping 28 year low. the agency ceo joins me, so many pizzas of housing data we get, it is hinted as a slowdown. what do you see? >> we are no question in a deep slow down. i was on your show and i talked about recession and i talked about the word. the transaction volume, we have levels below, in the country below the 2007-8 recession and

below the beginning of covid. our transaction volume is as low as it has been since 2000. neil: year over year, you see price appreciations, month-to-month it has been declining but compared to last year, still holding up. >> i think there is a hold of pricing, they are holding onto low interest rates and are not motivated to sell. the government is trying to make housing more affordable and it is not happening. no motivation on sellers, the supply is not growing, demand is sitting still, waiting, but no transactions. adam: what will end the standoff, and and back to high

prices, the buyers came in, but the standoff continues. >> the home volume rise to after all the stimulus, and continue with the strong increase in interest rates, we see a fast decrease, tremendous standoff but by allowing interest rates coming down a little bit. inflation is under control, don't look at housing pricing is inflationary aspect of it. allow the stabilization, we want to receive 3% again. certainly not the next 3 to 5 years, but allow them, allow stability and buyers from entering the market.

there was too much uncertainty. adam: we are closing 7%, almost double from what was a year ago. is that as bad as it gets or does it get worse? >> there is a possibility it gets a little bit worse but i think we will see some stabilization, we can get the show back on the road. neil: always great catching up with you. just to be clear, the average fixed rate under 7%, it was 3.9% last year, the dow up 38 points. time to go to "the big money show". brian: did you talk about how much mortgage rate you paid back? neil: 13.5% but i digress. brian: not so bad these days