laurie goodman of the urban institute. we will be right back. ♪ scarlet: i am scarlet fu.ss?" don't miss this -- we have a big week for retail. a lot of retailers coming out with their earnings. kicks off on wednesday. and then we get the big sales numbers for the month of october, critical as we head into the most important season for retailers, the end of the year holiday season. have alreadyp 500 reported. this is the last component of the market overall that needs to give us what they are looking at for the year ahead. alix: clearly, as you point out, people are spending on the credit cards. what we will beat -- what i will be doing tomorrow while you are sleeping and doing research, i will be ratings a result of china's foreign reserve balance. the estimates are for it to come in at 3.4 chilean dollars, down $3.4$3.4 trillion -- trillion. does the emerging markets selling foreign reserve assets equally to quantitative tightening? that is what i am paying attention to. looksomething else to forward to internationally come on monday we get export-import data from german

if laurie goodman has shown, the prototype is your number one predictor.nd quick point is just what cheney is doing now i hope it works well. their new product relates to what the chairman said before lunch -- change. we've got to look at it different from the way we look at it. >> excellent responses. we have like room for one or two questions. over there. >> i want to pick up on a point that juliet raised. we put out a report on negative equity rates and found that in 1000 counties negative equity rates are higher, getting worse and another 600 counties they are finally getting better but they are still quite high. i'm curious what the panelists think that hud and fhfa computer trying to ensure that come to help these markets recover and make sure that not walloped with another round of foreclosures and vacancies? >> i think the portmac and refinance program basically do that. -- harp. >> there are some long seriously delinquent, a large piece of the stuff that's underwater we never been a look at these markets, like five years. there's some serious deli