we've seen mill lennial falling off.hink a lot of it has to do with shifting tastes toward organic, locally sourced better quality ingredients. mcdonald's is now in a position to scramble. >> i guess the issue is they should have seen this coming. this is happening time and time again. they seem surprised every time. >> simon, first of all, i would say i still like mcdonald's, i still eat it every once in a while and probably why i don't look nearly as good as the wearable polo shirt that as wearable technology in it. but mcdonald's has its work cut out. it has to figure out how to get the younger shoppers in there. i tend to like the menu items, but again i'm not exactly the target audience. >> dom, morgan, it's been a pleasure. >>> we have three movers to watch for you right now. >>> plus escape the cube. >>> coming up, a woman walks away from the wealth of a hedge fund to craft a career-making rum. >> i wanted to make something that i was going to be drinking a lot. >> escaping the cube, next. with fidelity's new acti

we're blaming the mill lennial. they're just not buying homes. the average age is now expected to jump from 31 to over 34. why? debt, jobs and life choices. yes, mortgage rates are low, but mortgage closing costs rose 6% over the past year to an average of $2,539 on a $it 00,000 loan. origination fees accounted for the bulk of it. blame new mortgage regulations and the cost of compliance for the -- then there's qualifying for the mortgage when you have student loan debt. loan depot, an independent lender looked at loan applications for 46,000 potential home buyers. when looking just at those with student loan debt and all the other factors like credit score and loan to value on the house being equal, the difference between those approved for a mortgage and those denied was a monthly student loan payment of less than $300. they also found the median age of a first-time buyer rose from 34 to 36 years old. now to jobs. employment among 25 to 34-year-olds, which is the prime age for housing. well, it fell to 75.6% in july from 75.8 in june and 76% at

up next how mill lennial are changing the way business is done here and how a company that has nothing to do with gambling is affecting the economy. we'll have that right after the break. from 2000 to 2011, on average 17 manufacturers a day shut down in america. there's no reason we can't manufacture in the united states. here at timbuk2, we make more than 70,000 custom bags a year, right here in san francisco. we knew we needed to grow internationally, we also knew that it was much more complicated to deal with. i can't imagine having executed what we've executed without having citi side by side with us. their global expertise was critical to our international expansion into asia, into europe and into canada. so today, a customer can walk into our store in singapore, will design a custom bag and that customer will have that american made bag within a few days in singapore. citi has helped us expand our manufacturing facility; the company has doubled in size since 2007. if it can be done here in san francisco, it can be done anywhere in america. >>> this after citing sources that hewle

we have a center for business and human rights precisely because mill lennial are concerned with this. they're not just concerned about making ethical decision, doing good, but they're concerned about how do they do that in the context in which they are also capitalists. they also want to make money. they want to do well for their family. how do we kind of address that. i think what we are trying to instill here with the center for business and human rights is really how does human rights and these other questions, how do they come up in the classroom. more importantly we're seeing them pop up in ethics, we treat it as a business question, and pops up in global markets, and we think of new solutions to that. not on the ethical side or moral side, but how does that figure into how they make business decisions. what i see is they want to make the right decisions. they want to do good. this is the direction that we are taking it. i think at stern it's important for us to instill that character. >> i wish we could continue this conversation, because the intersection of ethics, morals and

report from trulia, new york, boston, houston, northern california, these are directed at young mill lennial getting ready to resident and downsiding baby-boomers. that's why you're seeing the apartment reits hitting new all-time highs today. they're significantly outperforming the s&p. now, we called this reit play two weeks ago right here on "power lunch." if you missed it and want more, it still lives online. we have to keep in mind single-family is still running well below norms and the builders raised prices a lot last year, you may start to see in incentives coming up this fall. back to you guys. >> all right. thanks very much. >>> also, speaking of housing, shares of home depot, they are trading at a record high right now after posting solid quarterly numbers earlier this number. both coming in strong. shares, by the way up 15% in the last three month. >>> higher across the board, the dow up 80 point. s&p 500 good for a gain of almost half a percent, and the nasdaq trading near a 15-year high, the russell index also continuing its string of gains, and the ten-year selling off, yields

mill lennial, there are people hurt by the housing crisis who left the single-family home who didn't and are doubled up. as the job market improves and they have a steady paycheck, they're more likely to go go out and sign a lease. >> we see these incredible rise in rents going out there. in many markets we've seen reports it is far more affordable to own a home than to rent. why would you keep renting? >> it's only affordable to own on home if you can qualify for the mortgage and have a down payment. those who might want to own but not in the near term. >> do you feel the stocks are overbought? >> i get that question a lot but for the previous two years the stocks went nowhere, but the whole time the market was gathering momentum. you say vacancy rates fall, in fact the earnings are much higher. so no, it does not look like a bubble. >> thank you very much. back to you guys. >>> california caught a severe drought crisis. the golden state now finding a new way to tackle the water shortage. jane wells is live in san diego. >> reporter: california needs water, there's a bunch of water.

without a background check, and "b," it angered so many people, including young people, including mill lennials like myself most disproportionately affected by gun violence in america to get up and fight this. i think we're sort of in this turning point right now where moms and students are -- and other sort of demographics are coming together on the grassroots level to advocate against the gun lobby and to prove that average americans can have more political power than the gun lobby and that's never happened before. >> yeah, maybe you could tell us a little -- there's the protect all women movement that's out in washington. in california they have this gun violence restraining order idea. there are some interesting things happening or trying to make happen at the state level. tell us about some of them. >> exactly. even though universal background checks have been put on the back burner on the federal level, that doesn't mean other legislation can't be passed especially on the state level like you mentioned. in california, they're looking at the -- the state legislature is looking at this gun