joining us is michelle meyer, the senior u.s. economist at bank of america merrill lynch. great to have you with us. >> always nice to be here, melissa. >> we want to run through the notions in the market and fee there is any truth to them. investors and international buyers are the primary buyers pushing demand higher. you hear about all these funds, spending millions of dollars buying, renovating, renting and eventually flipping s this true? >> an important part of the market but they are not the primary force. nationally, investors make up about 22% of sales. certain key markets, they are much higher concentration. they have been quite important in terms of stabilizing the market. on balance, we have seen a return of primary home buyers. >> makes the housing recovery in your view, it is more stable because it is primary home buyers instead of investors? >> i think so a lot of the innishal turn had to do with investors in terms of the most distressed markets, we don't want to look past that a really important part of the housing recovery, but in terms of thinking about t

michelle meyers. john rizzo. jim [speaker not understood]. [speaker not understood] and lois miles. if you heard your name, please come forward. >>> this one? okay. it. good afternoon, i'm nancy wilson. i'm here to support the apprentice program. i was at the rec and park commission when this was approved and i was extremely impressed with the way it was proposed. it was clear the apprentices would be comprehensively trained. they would provide a supply of qualified men and women to the permanent workforce. and they would also provide extra help in the parks while also saving the city money as they were in that [inaudible]. with their, quote, glitches or something like that in the system. it really is disheartening to feel that there's good pr and people are hopeful, but not when there are games that are being played or anything that's less than completely straightforward in getting these people hired as city employees. so, i want to encourage you to be extremely careful that this is not just, you know, oh, everything's fine and dandy with the powerpoint. let's make sure that hr is

biggest gain for the dow since the end of february and the nasdaq is trying to keep their -- michelle meyeromist with b of a merrill lynch and art hogan is managing director of lazard capital markets and a good morning for you to join us, guys. good morning. >> good morning. we have the dow up almost 200. what are you thinking? >> we have a marketplace here that seems different than it did last wednesday and one of the things you have to contemplate is what's really changed and what's with really change side the perception of what we learned on wednesday. we learned that the fed at some point in time will taper their quantitative easing and i don't think that's new. we spent the long weekend digesting that and the fed's data dependent and they're probably not going do it any time soon and that might be good news and that might be that the economy is doing better enough that they'll step back from the 85 billion a month in purchases. the dow is up 200. michelle, we just got the confidence number of the week. we'll get an important revision to gdp later in the week, as well. >> is the market

michelle. experts are calling this ceo marissa meyers' bold he was move since she was hired last year and manymployees here at yahoo headquarters hope this deal definitely pays off. now, the ceo tweeted this morning, i'm delighted to announce we have reached an agreement to acquire tumbler. we promise not to screw it up. the deal's price tag was $1.1 billion court yahoo tumbler will be independently operated as a separate business. with david carp staying on as ceo. the deal is expected to grows yeah's audience by 50% to more than a billion monthly users. tumbler is a popular social blogging site especially with the younger generation. but it appears some bloggers didn't want this deal to go through. if you look here, we found some protests about the acquisition. some have threatened to leave the website. other bloggers say this could kill tumbler's image. now, this is the largest acquisition of a social media blogging site or website in years since facebook's acquisition of instagram. reporting live in sunnyvale, back to you. >> and cate, there is a big reason why yahoo targeted this website,

michelle. experts are calling this move -- calling this ceo marissa meyer's biggest move and gamble since she washoo last year and many employees here at yahoo are hoping that this deal pays off. she tweeted a few moments ago, i'm delighted to announce that we have reached an agreement to acquire tumbler. we promise not to screw it up. now, yahoo officially made this announcement this morning. the price tag for the deal about $1 billion. according to the company's press release, tumbler will be independently operated as a separate business. the deal is expected to grow yahoo's audience by about 50% to more than a billion monthly visitors. and to grow traffic by 20%. tumbler is a popular social blogging site especially with the younger generation. but some of them doesn't want this to happen. if you take a look here, we found some protest posts about the acquisition. bloggers aren't happy with the new partner saying it could tell you tumbler's image. now, this is the largest acquisition a social networking company has made since facebook has acquired instagram. live in sunnyvale, back to you guys.