i'm bob massi. i'll see you next week. [ woman vocalizing ] good night from new york. >> announcer: from fox business headquarters in new york city, the new "wall street week." gary: welcome to "wall street week." trish: i'm trish regan. the markets continue to react to donald trump. 178,000 jobs were added last month and the unemployment kicks down to 4.6%. this is the last economic indicator we are seeing before the federal reserve meets to decide whether to hike interest rates. gary: joseph fahmy of zor capital joins us now. >> i think we are starting a new bull market it's been in consolidation for 18 months and we are moving to new highs. even those s & p hasn't corrected. a lot of second towards got decimated the last 18 months. now we are just coming out of that, and in anticipation of better economics, i think we are headed into a new bull market. gary: the actual numbers are $1.7 trillion have come out of global bond funds since the election and $685 billion in global equities. aren't we pu

. >> i'm bob massi.s, i've been practicing law and living in las vegas, the center of the recent real-estate crisis. lives were destroyed from coast to coast as the economy tanked. now, well, it's a different story. the american dream is back. and nowhere is that more clear than the sunshine state of florida. so we headed from the strip to the beach to show you how to live the american dream. i'm gonna meet real people who are facing serious problems, take you behind the gates of properties you have to see to believe and give you the tips that everyone needs to navigate the new landscape. because information is power. and the property man has got you covered. [ woman vocalizing ]

i'm bob massi. i'll see you next week. ♪ that's all we got for tonight. good night from new york.hank you so much for joining us. >> announcer: from fox business head quartr quarters in new york city, the new "wall street week." anthony: welcome to "wall street week." trish: investors are riding the trump rally. the dow has posted over 15 record closes since the election. is this a classic case and will much of these gains evaporate if donald trump doesn't deliver on the promises he put forward? gary: to get some answers chris toomey joining us now from morgan stanley. you and your partner manage $3.5 billion. you are going to be talking to your clients his week and early after the new year and telling them to reflect on what has been a difficult year even for long-term investors. what are you going to tell them? >> if you look at this year, we had two referendums, u.k. and italy which threw out two heads of state. we had 40 different elections. we had a huge election here in the united states. all sorts of concern and pressure on the market. yet we are basally where strategists t

i'm bob massi. i'll see you next week. [ woman vocalizing ] >> this is the new "wall street week." ♪ gary: welcome to "wall street week." maria: thank you for being here tonight. the markets hitting new highs to start the week. janet yellen's rate hikes slowing things down a bit in terms of the rally. the dow jones not making it to the historical 20,000 level. regardless entering a new phase with a pro-business whitehouse and it also comes with the fed's key raising interest rates regularly. we are joined by the outgoing ceo. bob, it was a historic week because the senate raise rates again. only the second time in 10 years. what did you think about what the fed did? >> it was unsurprising. it was expected. we see the prediction. for me, that is the more important fact. gary: a year ago when they raised rates i think that they thought at that time that could be several raises in 2016. i think investors have to take that with a grain of salt. >> all predictions don't exactly come true. >> are looking

i'm bob massi. i'll see you next week. ♪ i hope you'll make plans to be with us.ave a great weekend. good night.. announcer: from fox business headquarters and new york city, the new "wall street week." gary: welcome to "wall street week," the show for long-term investing, i'm gary kaminsky. trish: and i'm trish regan. the trump rally continues to roll on, the market soaring to new highs and look at how much the major indices have gained since election day. this is one month time, staggering stuff. gary: will laugh in the face of the likely rise in the interest rates next week. capital management, good friend of the show, bob olstein, we're going to talk about stocks and investing, but we've got to start with the markets here, since election day. you've been doing this a long time, are you surprised what's happened since the election? >> not really. the market was severely undervalued, especially the stocks that are out of the top of the index because everybody's index investing now and passive investing, so there is a lot of great 9, 10% free cash flow companies.

property man bob massi on this next. >>> plus, 400 women try out and only 80 of them get the job.za. hi, ladies! what makes this simple salad the best simple salad ever? heart healthy california walnuts. the best simple veggie dish ever? heart healthy california walnuts. the best simple dinner ever? heart healthy california walnuts. great tasting, heart healthy california walnuts. so simple. get the recipes at walnuts.org. family road trip! fun! check engine. not fun! but, you've got hum. that's like driving with this guy. all you do is press this, and in plain english, "coolant", you'll know what's wrong. if you do need a mechanic, just press this. "thank you for calling hum." and if you really need help, help can find you, automatically, 24/7. because you put this, in here. hum by verizon. the technology designed to make your car smarter, safer and more connected. put some smarts in your car. >>> some consumer headlines right now. that cheating website ashley madison paying up after a massive security breech. settling for $1.6 medical -- million after customers were black mailed

bob massi is here. he's the host of "the property man" as you know.ur opinion? >> three areas. number one, loan modifications are going to mature again next year. it's going to cause a problem. two, what we call zombie titles. those properties that are still for years in home owner's name and they can't move on and three the mortgage debt relief act expires this year and we have to get it extended. those three areas, you got to get a committee to put together to stabilize this housing market. >> that means if your house is foreclosed on, you don't have to pay taxes. is that a good thing? >> a lot of republicans were against this, but what it basically means exactly what you have -- said. if you had a primary residence and that debt was forgiven because upside down. if we don't extend that with a lot of properties out there that have not been foreclosed on, and then there's fore closures, people are going to be income tax liability. that needs to be extended until we get this stabilized. >> you mentioned zombie homes. what are those? >> i actually have

there are some conflicting predictions. >> bob massi, the host of "the property man" joins us now to you. >> so there are mixed reports about the housing market come 2017. some people say it gets better. worse. what's really going to happen. >> i think thesing it gob to be a good year. lenders are optimistic but not as aggressive and then for example, the national association of realtors, they are a little more guarded with it. depending upon whose eyes you are looking, renters, brokers, depends on what you see. >> you think it's going to be a buyer or seller or both, what's your thoughts? >> that's a good question. i think there are parts of the country, like vegas, florida, the ones that are hit. it's okay to be a buyer right now. but here's my concern. interest rates, i'm concerned about and inflation. interest rates has already moved up. usually after a new presidency is coming in, the housing market gets a little shaky. we saw the stock market going crazy but the housing market has its own heartbeat so that's my concern is. where is interest rates going to be and how is that goi

bob massi joins us now to break it all down. brian is trying to get in my shot. >> sorry, bob. >> all right. we have gotten a lot of questions from folks that want to know more about homeowners associations. what is the reserve fund and how does it work? >> any time you're part of an hoa, all of us put money in. the money is there to take care of the common area and maintain the streets, landscaping and things like that. it is supposed to be there to make sure there is enough money to make sure all of these things are in fact met. it is important to understand that you have the right to look into this account and understand how the money is being used as a homeowner. >> what is the most common problem with the reserve funds, bob? >> what i have seen over the past several years is some times you mismanagement, misappropriation of moneys that the hoa board uses. it is a group of people that live in the neighborhood. there are homeowners there and many of them are very qualified people. a lot of them do a good job. some overuse the