gigantic plus, autonation just announced a new $1 billion buyback i mean, come on.even make a big deal of it other than to say they're balancing the repurchasing with the leverage americaning that they paid $350 million for the stock they repurchased this past quarter. much of the conference call is devoted to the auto industry and previously used cars obviously some chatter about interest rates are high as usual. but the most enlightening question came from john murphy who noted, quote, your stock is incredibly inexpensive and then he went on to say that he was curious about, quote, how the decisions are getting made on sort of the speed and race of the buyback, which everyone was thinking the answer murphy got was pretty matter of fact it's why buybacks don't get the attention they should. autonation said they have plan in place and that use as grid, and the grid kicked in that caused them to buy a lot of stock. instead they emphasize that they're circumscribed by what they can do because of the law buybacks need to be automatic. in the end, the cfo explained that

it became autonation realistic. in many way ways more aggressive tends, these varies, portray the reality in very different colors that anyone else in the woods. it's as a site team denied. and for them, any like this means that the word these against us means that anti semitism prevailed, that we have an old shrugs in this world, leaving only or no sold or kind of notions which uh, being really puts in the these really mine sites us except the one think to ask, what is our responsibility? what did we do wrong between each this situation which we are be coming up, arrest a. why and why do we object so much like a visual palestine is where the could so many times before that then the out times that this is the solution. so many is where the politicians say so. so what's wrong? if no way of spain wireless recognizing it, palestine once he's on december take in, this is what we are thinking. did not, did you talk about denial? i mean, is there any sort of internal debate going on in the country about why so many countr

i think you have to compare these -- if you look at autonation, there's not enough supply. so, therefore, used cars haven't come down in price. everything is understandable except for insurance. insurance is something that i can't figure out how it stays high. the justice department investigates apple because their phone is so good. therefore, it's unfair. >> speaking of inventory, watch depot today. comps a bit of a disappointment. inventory down year-on-year, jim. did accelerate sequentially, up seven. >> i think home depot will say spring fed cuts, i was happy inventory went from $25.3 billion to 22.4. everyone is kind of stuck because the renovation comes from when you buy a used home. i said existing home sales were really bad yesterday. you don't renovate a new house, right? there are not a lot of new houses being built. the fed is caught in this curious notion, because mortgage rates are so high, you're reluctant to give up your low mortgage to go buy a house. you don't need to reinvent your house, renovate, unless there's been a lot of storms. >> which there have be

one of the things i saw was i was looking at autonation and carmax and then, of course, reading the homebuilders there's not enough used cars out there, and there are not enough used homes out there it's kind of interesting, isn't it, that we all lack use this is so covid that we lack use. we've always had a lot of used cars around. there was a used home component. and they're just gone. >> the used home being an existing home, same thing. >> just trying to be a little -- >> making sure people know. >> more cinematic. >> i like that no, i like that. nobody's selling their used homes right now. they're living in them they're using them. >> somebody approached me for the second time on my 2006 lexus wagon and made an offer from me. second time. i mean, i'm not a car dealer >> you mean out of the blue, you're just driving the car and they say, i'd like to buy that from you >> yeah. >> oh, that's fascinating. >> this is a big part of ed darnelly's noerkts and he's looking at boomers done paying college tuition, done paying their mortgage loans with 40% of homes mortgage-free and they say they're goi