they represented the local medium and small builders. in short it was a representative group of stakeholders. despite conflicting priorities they came together with a common cause and all impacted with prolongd and severe economic depression in san francisco's construction industry and by burdensome policies drafted during enormous economic times and not responsive to the crisis in 2008. while this group hasn't all achieved consensus they realized working together was the only way to move the policies forward and in turn provide much needed housing in the city. i would like to point out some of the socioeconomic projects of the five to nine projects part of the housing program. these builders are best characterized as small traditional mop and pop businesses. they. >> >> hire locally and supply companies and hire trances men. they shop here and go to school here. a large part are immigrants. the city has a life community yet the small to medium builder is rarely treated this way. part of the american dream iseclimb the later and achieve.

i am leo cassidy with the residential builders association.n 2006 division of -- basically for the affordable track already kicked the industry. you know. the analysis -- we thank you for this. it's strictly bringing people back to work and the banking will loan on these and i want to applaud all of you and thank you very much. >> good afternoon supervisors. i am mr. birmingham and with the san francisco beard of real estates. i wanted to come here today to talk on behalf of the suppliers such as don from don's kitchen and supplies. since the nine to five units are included in the housing program at the same time the banking industry has had a rueinous effect on the suppliers. their credit has been crunchd and you can institutions to the city such as all wood doors in bay view and had jobs for decades, western plywood is gone. a lot of the construction suppliers have been very hard hit and the people that use them are the small builders. if we don't keep them building in san francisco they would look elsewhere like many of the suppliers have m

home construction is gaining steam along with builder confidence. and the standard and poors case shiller home price index which tracks home prices has made month over month gains all year. but in markets like chicago, atlanta, and new york a couple of months have shown year over year prices declined. that worries yale economist robert shiller who co-founded the index that bears his name. >> every year 2009, 2010, 2011, and 2012, we've seen a big summer rally and then it collapses again, so that's why it's hard to predict real estate prices now. >> reporter: while the pickup in home sales has been encouraging to builders, housing analyst megan mcgrath says builders are looking for better guidance on pricing. >> we think it's going to be in 2013-- what you need to see is pricing. you're going to want to see pricing start to go up significantly so builders can see better revenues and better margins. >> reporter: shiller fears the housing market could lose momentum over the next few months. he thinks prospective buyers could get sidelined over fears ab

it is builder friendly. it is a checklist, certainly. meeting the lead standard requires that your design team comes up with an overall strategy and be very integrated into the project as a whole. >> it is complex, especially for a single-family home development. it is certainly very doable. it is being done. but it is something that is focused for a project with sophisticated resources applied to it beyond what should be the baseline for construction. >> my second question is, is lead a nationally-certified, or is it more of a global recognition? is it also recognized in europe? do they have different standards? >> the answer is yes to all of the above. they encourage interested parties and other nations to develop their own organizations, and they could have their own standards. however, lead is still most recognized, and a home in san francisco. it is meaningful globally, but it

seeing the data and also hearing also from small builders of the challenges of building in san francisco i concluded that this is good legislation >> item 19. >> experiencing technical difficulties; please stand by * for support. this motion is approved. >> part of the effort to continue to prevent wage theft in san francisco. the launch, i think marks the very first time that any local government has gone >> technical difficulties; please stand by >> and was instrumental in the creation of proposition 8 against gay marriage and has made comments that catholic practitioners from the queer community abstein from holy community. recently the same persona apologized for his arrested on suspicion of drunk driving, behavior that he thought brought shame and disgrace on himself and the church. i wish he would issue a similar apology to the queer community. many in our community take years to accept their identity and sometimes longer still to return to their faith. these words are lacking in compassion and in many ways seem to defy the very basic principles of the new testament, values that in

. >> we are getting really strong numbers for the builders.ngle and multi family apartments. that's counterintuitive if you believe once housing recovers people will stop renting and buy a house. should you be in apartments or housing reits? housing starts jumped from a year ago. single family up 43% from a year ago. multi family apartments up 19%. it is the permit numbers considered a more reliable reading that's off the charts. up 45% from a year ago. single family up 2. multi up over 93%. the home builders were up on the news. they are up nearly 140% from a year ago. many analysts are saying they are overvalued and downgrading some of the stocks. there was a note today warning of risk in names like avalon bay, equity residential or udr. the reits have been under performing with some afraid that maybe they have already peaked. price waterhouse out with a report on 2013. they see apartments as a strong bet given relatively low supplies though there is building going on. downsizing baby boomers coupled with adult echo boomer renters continuing

let's look at the home builders in particular. when we talk about home builders we look at names like pulte home and lenore are hitting 52 week highs and a majority of the names in this group year to date are up over 100% and when we talk about the numbers, the housing starts we got in we saw a rise of 15%, the highest level, four year high and home builder confidence at a six year high. we are seeing some movement in this group today. back to you. lori: many thanks as always. melissa: will prices turning lower on the latest weekly inventory data breaking below $90 a barrel. $91.96 at the last trade the government reporting bigger than expected rise in crude supplies at the highest level for this time of year since they started tracking the weekly supply back in 1982. lori: could drilling for oil controversy turned into a heated fight at the presidential debate right off the top. one that both business and consumers are watching closely. who was correct? liz macdonald has been investigating, crunching the numbers. liz: it got heat

what about the home builders themselves?clearly housing stocks and housing starts are surging faster than mitt romney. let's look at this chart. i'll tell you if that run is going to continue. this is the benchmark philadelphia stock exchange housing sector index. we've drawn this line to show you a long-term view. we captured the high and low. if you sold this index on that break below the 200 week, you saved yourself 57%. you get back in here earlier this year, we're now up 63% from that buy signal. investors are wondering where do we go from here? boom. >> you think it's higher? >> well, i don't. in the short-term, we're into resistance. you have this 50% retracement of the entire decline. you see the overhead resistance from the trends line. you want to pump the brakes on the overall housing sector index. >> what about kb? >> let's look at kbh, one of the components of that index. there's no free lunch on wall street, which means high risk, high reward when you go for the individual stock. bo boom. sell it, buy it. we've

we're looking at home builders today.or example, let's bring out the board, showing what's going on there. raymond james downgrading some home builders while upgrading apartment reits. our next guest makes the case on why single women may be in fact a boon for rates. the vice president of real estate research at raymond james, you're breaking it down into genders here. give us the story. >> i think it is really important what's going on here. but as far as builders go, our message number one is the housing recovery is intact right now. we're seeing very positive signs, inventories very lean, mortgage rates very low. we're seeing prices rising in a number of markets. but just keep in mind where we're at in the housing market and where we're at on home building stocks. could bring two very different things at different points in time. market was starting to turn the corner at this point last year. that's when we upgraded many of the builders. a lot of the good news is priced in. that's our message, is that the expectations

builders. the builders came out because they are starting to build homes.y have pretty good numbers. home construction jumped 15%. would you want to know is that people with jobs, plumbers, home depot, loews it helps the economy. >> this is just the latest of a series of reports stating that the housing sector's are starting to improve. >> banking is improving bank of america is an program. >> bank of america's are in a report came out and they had a profit but it was very slight. they alternately made $340 million and they felt--it was a good quarter and the company is the down sizing. profits were hurt by--loans to small businesses have been--we also want to bring up entail and they reported that there aren't as big expectations. >> how are traders responded? >>-. they had a good start of the year but there are a lot of tablas and they're not into that. there shipments for the fourth quarter have been have the seasonal average. they have a bit of a problem because people are not buying pcs. >> have you heard from them at all? >> i do not think that is a d

many of our builders. some incentives that they want to see in place for incentivizing development. one of those pieces is the one that is before us today which is to exclude buildings, that are between five to nine units from contributing to i did have many concerns along with many of our colleagues about the importance of the contributions from small builders. seeing the data and also hearing also from small builders of the challenges of building in san francisco i concluded that this is good legislation >> item 19. >> experiencing technical difficulties; please stand by * for support. this motion is approved. >> part of the effort to continue to prevent wage theft in san francisco. the launch, i think marks the very first time that any local government has gone >> technical difficulties; please stand by >> and was instrumental in the creation of proposition 8 against gay marriage and has made comments that catholic practitioners from the queer community abstein from holy community. recently the same persona apologized for his arrested on suspicion of drunk driving, behavior that

on the building tax returns to the nine ninety forms i function as the entity american friends of builder berg james johnson of perseus l l c is the treasurer and these forms by law have to show who contributes to these organizations so we find in the build of words tax returns and really kissinger david rockefeller just two of the really the most slightly to look at that right now as you're talking kissinger twenty grand rockefeller fifty grand microsoft seventy five grand goldman sachs twenty five grand what does it mean that these corporations are funny and these think tanks and the washington post gives them a few tens of thousands of dollars every year for decades and of course the washington post doesn't want to bite the hand that feeds them it's no wonder why the mainstream media doesn't like to talk about these organizations when we have one of the biggest media outlets in the country literally funding them. so what why why don't people know about this mark i mean clearly that you know legislation is outsourced now no one writes bills and and congress i mean. what is what are thes

is shia more capable leader or more capable bridge builder? >> i think we know the answer to that question. i would say that here are the different models of the president. fdr began as a consensus and president to try to create by partisanship and then by 1934 from 35, the league started and people become very, very partisan in their political response and he became himself partisan denouncing the economic royalists in the campaign saying i see one-third of the nation. then you look at lyndon johnson. lyndon johnson was probably the most effective legislator ever to live in the white house. how did johnson do that? first by manipulating people and twisting arms, you know, how did lyndon johnson get the civil rights back past clacks she had ever did tricks and every single night. and they would talk through it all and basically ended voting for cloture. i don't think that hillary clinton is going to drink scotch every night but she would basically try to work with people like lindsey graham assuming that he is still in the senate and basically

the builders of the new notes a driving at 85 under highway will be saved, its drivers act responsibly. >> put away their self phones, keep their seat belts fastened, and use the left lane only for passing. >> not everyone is convinced. >> it is stupid. memorex will happen. they already drive like idiots out here. -- more wrecks when all happen. >> still ahead, "law & order: svu" alberts a television milestone. the stars are joining us live the stars are joining us live on as a pastor, my support for question 6 is rooted in my belief that the government should treat everyone equally. i would not want someone denying my rights based upon their religious views, therefore i should not deny others based upon mine. it's about fairness. this law does not force any church to perform a same sex marriage if it's against their beliefs. and that's what this is about. protecting religious freedom and protecting all marylanders equally under the law. join me in voting for question 6. >> now your 11 insta-weather plus forecast with ava marie. >> good afternoon. degrees at bwi marshall. temperatures

is she a more capable leader or a more capable bridge builder. >> i adopt think we know the answer to that question yesterday. i would say that if you look at different model of the presidency. fdr began as become a consensus president who tried to great bipartisan and then by 1934, 35 the liberty league started, people had become very, very partisan in their political response. and he became himself partisan. he announced in the economic royalist and then in the '36 campaign saying i see one-third of a nation ill housed, ill clothed and ill feed. then you go to lbj he was most the effective legislator to ever live in the white house. how did johnson do that? first of all, by manipulating people and twisting arms. how did lyndon janson get the civil rights ability packed? he had scotch every singling night with that man. they talked through it all. and they basically ended up, you know, republican voter for cloture. it happened. i don't think hillary clinton is going drink scotch every night with everybody. i think she would basically try to work with people like lindsey graham, assum

that has builders beefing up construction which fuels the economy, of course. housing starts rising quickly, but again more prospective builders are at about half the volume of historical norms. one of the reasons builders are getting so much attention is a drop in distressed homes for sale. foreclosures and short sales. they fell to a record low 38.6% of home sales in september, based on a three-month average according to campbell inside mortgage finance. that's down from the near record high 48.7% in february of this year. now we have to give the warnings ahead -- pending home sales. that signed contract for existing homes were unchanged in september with realtors warning of a possible fall slowdown. and more applications tanked. 12% last week on rising interest rates. and on that note, the american action forum, which is a right-leaning think tank, put out a report today saying that new regulations coming in 2013 could lower mortgage volume by 20%. there is a lot more of this on the blog, realtycheck.cnbc.com. >>> stay patched in, diana. you may want to list

index. >> it's a gauge of how confident home builders are right now. it's another piece of material in our story about what's happening in the housing market, housing market recovery. and what we know, home builders are now more confident than any time since 2006. remember 2006? home builders were confident then. they're confident again here right now, and why? because they're seeing serious buyers walk into their offices, they're seeing people who are actually doing projects and they're getting the financing to do the projects. and so they're seeing signs of a pulse in the housing market. there's a guy named joe lavornia, an economist at deutsche bank saying the housing recovery is for real. >> are those the words he used, "for real?" >> the housing recovery is for real. and he says it will be a leading indicator for the rest of consumer numbers and economy at this point. that we're in the early stages of a recovery for you and me and it's being led by housing. >> because really -- sometimes i hear it's being led by jobs and that's what everybody is w

let's look at the home builders. any reaction? nicole: i want to look at the home builders.re looking at pulte homes and lennar. most of these have been under pressure all morning and have down arrows even though they had an unbelievable 2012. some of them are 100% so you are seeing them down with the exception of this one with down arrows. stuart: mcdonald's, weak sales because of a weak global economy costing the dow quite a few points when it loses 3%. big loss for a big comppny, 89 on mcdonald's right now. back to the big story of the morning, the president's comments on libya on a daily show last night. >> even you would admit it was not the optimal response to the american people as far as us all being on the same page. >> here is what i will say. before americans get killed is not optimal. we are going to fix it. stuart: that is rather clinical language to describe the death of an ambassador and three others. not optimal. a little cold. i would say tragic. listen to this. >> every piece of information we get as we got it we made it out for the american people. stuart:

but west bay builders told cbs 5, damage to the tree was unavoidable. rays will love to spend hours in her backyard, now it's just not the same. >> we wanted it to stay up. >> the tree will be removed in the next couple of days and the contractor is expected to pay for damage. in berkeley, elizabeth cook, cbs 5. >>> coming up, it will be one last trip for shuttle bus. this one on the streets of southern california. the one thing needed to get endeavor on the road. >>> 13 to 20 degrees below normal today as far as our highs were concerned. good evening, everybody. the rain is now ending, but the forecast you need to know about as eyewitness news continues right here on the cw. what was grandma's cold remedy? hi, primo! asopao! right, asopao! there you go cuz, so you can sweat it out! oh, and music... ( all ) music? ... heals the soul. the power to share unites us. verizon brings your entire family the savings of the share everything plan. unlimited talk. unlimited text. and data you can share with up to 10 devices, all in one plan. get the 4glte droid ra

one of our builders sold three houses last week. seeing an uptick in building of new homes. >> what does that mean in terms of your sales? >> well, over the last several years, a lot of our builders from the past before the downturn became remodelers. we saw an uptick in remodeling. now many of them were going back to building houses also. they're busy. we have a hard time finding people for our customers if they want to remodel for kitchens or bathrooms. they're all busy right now. >> howard, it's brian sullivan. sounds like you're saying you have a shortage of workers in northeast ohio. >> yes, we do. >> how do you fix that? >> well, many of the people have gotten out of the trade of the building trades, and i'm not sure exactly how that will all wash itself out. assuming as there's more demand, people will get back into remodeling and building again. but it just started, so we'll have to see how it plays out. >> in terms of these strengths and weaknesses you're seeing in various sectors of your hardware business, where is the str

but west bay builders told cbs 5 damage to the tree was unavoidable when they removed the other redwoods next to it. hazel loved to spend hours in her backyard. now she says it's just not the same. >> we wanted it to stay up. so i'd be happy. >> reporter: the tree will be removed in the next couple of days and the contractor is expected to pay more the damage. the library plans to put a mature tree in its place. elizabeth cook, cbs 5. >>> the space shuttle endeavour's final journey could be the toughest journey it has ever faced, navigating the streets in los angeles. the shuttle will inch its way from l.a.x. to the california science center. the clearances will be as little as six inches in some spots. >> and what do you do then? >> we just move very carefully, slowly. we tell people to open their windows. >> the shuttle will shuffle along between one and two miles an hour aboard a multi-million dollar transporter that can turn on a dime, allowing endeavour to zig and zag its way past trees and buildings and other obstacles. >>> well, the new iphone knows where you are at all times. tur

home builders' confidence rising to the highest level in six years. lot of people are very excited. now builders are seeing more prospective buyers knacking -- knocking on the door. >>shepard: there are a lot of single family home available but the single family home construction is way up. why? >>gerri: 43 percent. mortgage rates are record lows so that is good news. there are a lot of people would have been wanting to look for homes, may have gotten a job and now are out shopping for the first time. we are seeing the builders who have been constrained are starting to build houses. those stocks have been unbelievable. >>shepard: that is a good sign for everyone. hopeful. hopeful. a former neighborhood watchman accused of killing an unarmed teen in centralled if set for trial june 10. of next year. that is the ruling from a florida judge. george zimmerman is facing second-degree murder charges for shooting 17-year-old trayvon martin. the prosecution claims he profiled the teenage and initiated a confrontation. george zimmerman claims he opened fire in

career builder reports that more companies will hire seasonal employees. also will pay these people higher wages and even offer more permanent positions to them at the end of the season. career builder says an increase in consumer confidence is driving the surge in seasonal hires. >>> a 104-year-old woman may be the oldest person on facebook. maria just celebrated her 105th birthday with friends including her 85 facebook friends. she's been on facebook for about three months now. her family thinks she's the oldest member based on recent articles of facebook celebrating the oldest member, who is 101. her grandson says the company may not recognize maria as the oldest member because he wasn't able to put in her real birth date whe setting up her account. her birthday is october 23rd, 1907. >> facebook has a problem. they would only go back to the 101st birthday. every time i tried to put that she was 104, it kept coming up with an invalid date. >> so far, facebook has yet to confirm if she is, in fact, the oldest facebook user.

an industry index shows that builders are twice as optimistic as they were last year. there is a memorial service tonight at san francisco's city hall for christopher stevens. he was the u.s. ambassador to libya killed with three other americans in that terror attack last month on the u.s. consulate in benghazi. stevens was 52 and leaves a wife and two children. bill whitaker is covering. >> reporter: u.n. diplomat and visiting u.c. berkeley professor peter bartu worked closely with christopher stevens through the libyan civil war. he remembers see the srebs as a best friend and a consummate tennis player. what kind of a tennis player was he? >> well, he was too competitive for my liking. he'd wear you down. always with a smile on his face. that's how he did his diplomacy. >> reporter: that, bartu says, is what made chris stevens a stabilizing force in an unsettled part of the world. >> people were candid with him and he was candid back. >> reporter: so he wasn't the type of diplomat who stayed behind diplomatic walls. he got out among the people? >> that's true. he wa

well and we just saw in this clip very little people know what it is talk about what the why the builder group is in point and important and why you decided to make this documentary. i sure as you said in the introduction there these guys have being pretty much operating in the shadows ever since one thousand nine hundred fifty four and it's only intel just recently that people have started to learn about just who these guys are and that's because of the with the rise of the independent media i remember the first time i covered bill berger i was back in two thousand and six and when i was there and i was six there was next to nobody and then here we are six years later and there had to be at least a thousand people at this protest so. we just want to be exposed to the group let people know exactly what these guys are all about and the bottom line is these are some of the most powerful and influential people in the world presidents prime ministers military men media moguls and they are meeting in secret behind closed doors discussing foreign policy so we feel it's something that people sh

have you ever heard of the builder bird group if you haven't you are not alone but today you're going to learn that it's probably one of the most influential groups that you've never heard of you see the ruling establishment has been around since the one nine hundred fifty four and every year some of the world's most powerful people gather in a luxury hotel in secret around the world and what they do remains mostly a mystery but one independent production company is seeking to bring attention to the secret meetings that have until recently gone mostly unquestioned check out this clip from the new documentary called the turning point. much about that build their very being to build a bird to build a bird in recent years the lack of public from the mainstream media on the build the bird group has been a problem as far as raising awareness about these conflicts people say that they control the media talking about the secretive stablished c.n.n. was the mainstream media where xbox m.s.m. speak any of these stations they are not here to. so to talk about the need to reveal the truth and th

an industry index shows that builders are twice as optimistic as they were last year. there is a memorial service tonight at san francisco's city hall for christopher stevens. he was the u.s. ambassador to libya killed with three other americans in that terror attack last month on the u.s. consulate in benghazi. stevens was 52 and leaves a wife and two children. bill whitaker is covering. ambassador stevens was remembered today by diplomats and dignitaries, politicians and friends, they gathered to commemorate him in the grand rotunda of san francisco city hall. >> our city will always remember ambassador stevens as a hero who served all americans. >> u.n. diplomat and visiting, c berkeley professor bartu worked closely with him through the libyan civil war and remembers him as a best friend and as a competent miss player. >> he would wear you down. >> always with pa smile on his face, that's how he did his diplomacy. >> and that is what made stevens a stabilizing force in and unsettled part of the world. >> so he wasn't the type of diplomat who stayed behind diplomati

check out this chart, the home builder's etf versus copper year-to-date. have already had a huge move, so if you're still looking for a way to get into the housing recovery story, could copper be a better play? let's start talking futures now, richard kris holme in chicago and anthony grisanti, make the case for copper. >> when you talk copper you talk china. 6% to 7% growth, a little bit more than that. simon hunt an analyst said copper increase of consumption next year 2013, there's always the possibility of chinese stimulus coming out of the market and the u.s. markets turning around. i have some property that i own down in florida and there are places starting new construction, not apartment buildings, where i haven't seen it happen in about three and a half years. >> anthony, you said it at the top of the cast here, as long as china data is fueling the market, but i think the market's disappointed by china data. of course their growth is 6% to 7% and we're at 2 and it sounds good, but that big fuel to add to could beer was when china was 8%, 9% growth

carrer builder" is ouu with a list of the most creative xcuses peeple give...xplain their absence forrwork. havingga nervous brrakdown"... faucet"... and i'm having my dead grandmother dug up forra police investtgation."if hhoky anytime ooo... you may want to think twice.almost thhy check uu on heir say them orrrequiiing a doctors' g - note. 3 coming up on the early away... out of control. ccntrol.the laage number of phone... nd the political cutting costs difficult. 3 bth - sacrificing truthit's long been practiced that on foreign policy. in return, - we expect the president tt act in our natton'' best interestt ann tt tell us the unvarnished truth.but now we learn president obama has faileddto keep his part of the bargain.evidence has eeerged werr shortchanged. foor american lives wereeliterally sacriiiccd. and we were ied to. when obama ran for the that mussim hostility ttwarr the u.s. would end when he became president. "i truly belieee that theeday i am iiauguuated that not onny itself differeetly but hh world looks at america differentll." nnw hampshire p

let's begin with the home builder group today.ulte, better than expected earnings but fell short on revenue. there it is, pulte more closings and higher sale prices. do we like this one? >> we saw a nice pop initially. $117 million in revenue? that's 30 cents a share. they beat estimates by 10 cents. a year ago they lost $130 million. in the big picture, yes, investors liked it. as soon as the new home sales came out, it's down. >> p&g has been struggling. >> this is the behemoth. this is the world's largest household consumer product. right now we've seen them take out four-year highs. it is encouraging. this was the catalyst that i saw move stocks up earlier when the s&p was up about 11 handles. >> moving on now to -- i guess hershey is next. beating estimates, raising full-year earnings outlook, creting margin improvements. eat those kisses, baby. >> you got do love hershey's, right? the stock is suffering a little bit because they had to take a one-time charge for pension costs and whatnot. but we are in the halloween season.

competing builders... builders... are small siins of things to come.zoning for new wegmans...has been approved... by he county council. bbt a coalition of activists...say a prominnnt developer...is behind a petition drive tooveeturn zooing for that rrject. they companydavid s. brown ho's - properties...is developingthe sits...just blocks from that prooosedwegmens...and is piewed as a potential competitor.activists claim developer david ordish...who is tryynn to blockanother project...this one... in middle river. (levy) "so the &ptwooof them are just these sppiled brats, these school yard bullies that are trying "is the ommunity goinggto be developers are going to be in control." (rydell) "commmnity county executive kevin wwth - kamenetz for not yet taking a public stand against thaa petiiton drive which, if suucessful, would delay prooosed construction of that wegmans hhre aa he old solo cuppplant for at least two years."and community leaders...say that would be a huge blow...to revitilizing to expand their business,

good news for the home builders, many of whom are very well capitalized.people having kids again. you can go through them case by case. we have a monster good number from whirlpool. owens corning. that's one of those companies that has the dominating roofing shingle thing. normally, i would like to buy this one off of hurricane sandy. but wait a second. no thank you. no dunka. check out stanley black and decker. what could be a better play than hardware with housing picking up and construction coming back and the need to be rebuild because of sandy. oh, hold it. stanley black and decker has taken europe by storm and that has become the bain of their existence for a couple of quarters by now. in the previous quarter, it has failed to protect the flag. the handbag company has delivered a fabulous report. back to the u.s. many tried to make europe bigger than america. now a combination of the end of the pc and the freezing of europe has led to horrendous earnings. finally, there is a resource based company that didn't move aggressively into china. now there a

chinese builders haveak step back or eased off from the rampant building. there's previous intense mpitn om.s. manufacturs such as tatter pillar as well as doe messiahic nufacture domestic sales figures from fast resaling for its popular clothing chain. we'll kee tck of how that fairs. let's ok at currency. theeuro now to 100. >> do you tnk domestic issues may play a part? >>definitely. new finance minister took markets by a bit of a surprise there. a lot of obstacles there not only from infighting from his own party but opposition party as well. next week we have the imf which is convening here in japan. markets will be watching very closely ifean push through some of those new fiscal policies. back to you. >> thanks so much. that is all for me for now. i'll leave you with the recap of the market figures. >>> rescue teams are searching for survivors after a ferry sank off of hong kong's island. the ferry was carrying more than 120 passengers when it collided with another boat. many were thrown into the sea as the vessel began to sink. more than 50 people h

that side the fill amplifies the ground motion and the 1850's to now, engineers and builders have triedhe soil conditions. >> okay. i guess the message we're trying to say where you're on soils that have been filled or we know there's problems, takeçó extra precaution totion try to minimize the damage. >> absolutely. a lot of buildings, very early buildings, like a building down the block built on redwood los angeles, most houses built in san francisco, unless they're modern,Ñi post '75, did nothino mitigate for the soil conditions. if you're the owner of the house, there are other things you can and should consider with the advice of a çó geo technical engineer. >> these are all brick buildings in here. they all pretty much survived the 1906 earthquake and fire. >> in fact, there's a plaque here saying they had to bring a hose a mile over telegraph hill to put out a fire. >> because all the liquor was d here. that's important. >> actually, this bidding behind us, if we can turn around, survived the earthquake and fire. the shutters are still there and part of the historic fabric on the

yesterday, we reported that home builder confidence had hit a six year high. it seems home building is catching up as well. on construction hit a four year high last month, up a whopping 15% from august. affordable housing has combined with lower unemployment to help improve home sales. foreclosures have also fallen to their lowest point in five years. >> now, your insta-weather plus forecast with meteorologist john collins. >> in nice -- a nice, mild day just like yesterday. just coming into west virginia, as some rain shower activity combined with a cool front. there is a big storm over the great lakes. there will be rain coming in from the west and the south. it is not evident now on the picture. we have a few scattered crowds -- clouds around the area. we have not had a good bank, hard freeze in the city appeared -- a good, hard freeze city yet.vie temperatures are very nice. inperatures in the 50's out far western maryland. a few more clouds. elevation has to do with that too. all in all, a fairly mild temperatures. here is the satellite picture. heavier

you say home builders are tapped out. how so? >> we think the home builder space has already seen a run up and we don't think if the economy continues to weaken and we have fiscal cliff issues coming up at the -- they already had the run up on what people expect to be good numbers and we think will turn around. dave: the you count your blessings and add your profits? >> absolutely. you never went broke taking profits. neil: would you do that with apple? >> we talked about this before. the problem with apple is it is 20% of most of the indices and mutual-fund that cover the nasdaq. liz: that means fund managers have to have it in there if they are making certain investments. >> it has to be weighted to the 20% of the portfolios of apple had a nice pop off of the samsung losses which was won through the entire world that apple won. the iphone 5 release and the ipad but we see too much competition. we don't see new innovation. we see other people taking their market share and we think it is overprice and the fact that it is weighted

>> absolutely, we're seeing some home builders moving higher again. building permits helped them move along throughout the year, 2012. lennar, for example, hitting a new 52-week high. and housing starts jumped 15% in september to a four year high. building permits higher and yesterday, we heard about home builder confidence the highest level. does that seem to be true? i don't know, i'm not a housing analyst and some of the folks on wall street are mixed on the numbers. the truth of the matter is the reports that we're getting helped the stocks jump over 100% year to date. names such as pulte group, standard pacific, kb home and ryland is up almost 100%, or more this year. stuart: up over 100% gets our attention. >> take that return. >> i would, back to the debate, an issue that mitt romney focuses onn whe talng with president obama's record. the number of people signed up for food stamp, another record hey, 46 million, 681,833. accord to go a senate budget committee report. governor romney brought it up last night. >> people in poverty, one out of si

but west buy builders told cbs 5 damage to the tree was unavoidable when they removed the other redwoodt to it. the child loved to spend hours in her backyard. now she says it's just not the same. >> we wanted it to stay up so it will be happy. >> reporter: the tree will be removed in the next couple of days and the contractor is expected to pay for the damage. the library is expected to put a mature tree in its place. elizabeth cook, cbs 5. >>> imagine a bank that gives you money to save for school. the unique program in the bay area that offers a 3:1 match. >> it might look like a normal day in los angeles. but let's zoom in. a closer look at endeavour's slow road to retirement. there she is. ,, ,,,,,,,,,,,,,, money to save for school. >>> imagine this. a bank that gives you money, gives you money, to save for school. >> yes, virginia, there is such a savings account. cbs 5 consumerwatch reporter julie watts on a unique program here in the bay area that offers a 3:1 match of the money that families put in. >> reporter: her daughter is the one in school but she is getting an education,