but again, the employees of pulte group, the employees of pulte homes have done a phenomenal job.tives that we have to make sure aren't doing this kind of shenanigans. maria: i'll leave that to somebody else to decide and to investigate. we wanted your expertise on the construction market and housing today. you said it's going to be a tough year in that regard. when would you expect things to start turning? is it all about when the fed starts cutting rates again? >> well, i'll say this. that going into next year for example, you're starting to see llenar, dr horton, they are moving inventory. i was in a lenar subdecision and they're selling these things like hot cakes especially in move in ready subdecisions. you're going to see these guys pass some of these savings, whether it's lumber, et cetera, through to the consumer and that's going to juice i think sales at least in the coming months. as i said, when the orders are down, you're going to slow down. maria: look, bill, we were watching lumber prices soar just a year ago, right, and that a was a major problem for people in term

bill pulte joins us, pulte capital ceo, what he makes of all of this.nk? >> neil, i think it is a little bit after temporary rush that you're getting. a lot of builders have a lot of money helping people pay down the interest costs. a lot of builders are giving money to perspective homebuyers that is driving a ton of traffic. what you have to look out for, neil, what happens in the back half of this year. that is it what we need to watch for. neil: pulte capital is different beast, pulte, your grandfather's construction behemoth that was really sort of a barometer for the industry. how do you, how do you look at this market and, just on a capital basis and whether it draws or gets any interest? >> sure. i'm a former director of pulte homes but as you said, pulte capital is different and we invest in the spice. i will tell you this, neil, evaluationses have come down meaningfully. i don't think they have come down enough. i think you will see over the next two, three, six, nine, 12 months m&a activity start to get repriced in building products, housing p

joining me pulte capital ceo, bill pulte.with the notion home price to income ratio. we have the chart up there. i don't think it has ever been this high before. you know, so you certainly have to investigation extraordinarily low rates to even be able to afford a house. what is the condition of the housing market right now? >> it's a problem, charles, i will tell you that. i will say one thing that is good. the builders have quite a bit of margin left to give to consumers. so actually what you're seeing, charles, you're seeing a lot of homebuilders actually give the homeowners, perspective homeowners money to pay down the interest expense. so that way they can afford some of the homes. it has been very creative, charles. it worked brilliantly. pulte group which our family founded posted great earnings. the employees hat a great quarter. frankly you will see some tough spots ahead so you have to be very careful at this time. charles: the homebuilders have been remarkable. the narrative has been one thing but a lot of the stoc

been several price upgrades to pulte in the last few days horton's at a new high, lennar's at a newclose elsewhere, big cap tech here meta is on fire. google, amazon, apple, all really strong. growth is really back. this is a big trend in 2023. mark zuckerberg got comments about the love of efficiency people like it when revenues go up and costs go down the buybacks, $40 billion buyback is 10% of the market cap if he they go through with this. they've been buying back shares, reducing share count 2.4 billion, today 2.2 billion and that would be a reduction of about 10% and if they go through with the buyback and don't add more shares, that will be a significant reduction as well. that count will go down even more here. and this buyback thing has really been big in 2022 and it's continuing in 2023 you remember the chevron announcement that got a lot of discussion last week that was the biggest one these are announced buybacks, not executed $75 billion. meta is number two there's been a bunch of ones in the 6 and $5 billion, mondelez and blackrock, bank of new york melon, ups, maratho

. >> he may have a pult zer prize, but his fine dining is, shall we say, he's a philistine.ro on top. egg with eggs? yes, please. >> you've got older -- in detroit. >> which is good. >> right. >> how is that going to play out? will there be political leadership in place to manage that fairly? >> it'll be fine. everybody likes a nice, you know, egg shell with caviar on top. everybody. it's just all about keeping cool. >> it won't be fine, dude. it will not be fine if there's not political innovation. it will not. >> well, sometimes political leadership grows out of what's happening. we don't have political leadership and this is what's happening. >> are you an optimist? >> i'm an optimist. i'm in this garage with you. >> summer soup, all the melons from the market, coriander blossoms we picked from a farm in detroit. >> beautiful. thank you. >> thank you. >> it's good, isn't it? i would describe that -- may i, chef -- as a light, airy, gazpacho. >> i wouldn't go that far. >> a little gin in it. >> gwin in your soup? >> the soup is delicious. try a little -- >> you know when i

sign contracts, they went up unexpectedly and also the last two builder reports we got this week from pulteember, and that's when rates fell back the most from their highs. i do think there are some people who are on the fence saw rates come down a bit and said, okay, let me get in when the market is not that competitive again, we're seeing prices come down sharply i'm wondering from andy if he expects to see prices fall much further. we're down 60% from june according to case-shiller. >> andy? >> i think you will. if you look at we just released our latest home price index last week that showed the sixth consecutive month over month decline. if you look at home affordability, it's improved from where it was in october and november you're still looking at home affordability worse than it was at the peak of the market in 2006 and that will continue to put downward pressure on prices. if you look at that annual home price rate it's down to 5% as of december if you look at the trajectory, it's set to cross over the 0% from march and april they are telling us negative 5% is where the annual rat

about a two of had minute drive on the golf course from the kennel and the main house, which would pult put him there at 8:49 p.m., the very time maggie and paul's phone ceased all activity, suggesting they were ted. once back at the house. keep in mind, murdaugh's phone showed no activity from 8:09 to 9:02. he says he left it at the main house when he went down to the kennels. >> you would agree with me from 9:02 to 9:06 your phone finally comes to life and starts showing a lot of steps? that's far more steps in a shorter time period than any time prior as you've seen from the testimony in this case. what were you so busy doing? going to the bathroom? >> no, i don't think i went to the bathroom. >> get on a treadmill. >> no, i didn't get on a tr trea treadmill. >> jog in place? >> no, i wasn't jogging in place. what i wasn'ting it is doing anything as i believe you've implied that i was cleaning off or washing off or washing off guns, putting guns in a raincoat, i can promise you i wasn't doing any of that. >> reporter: along with all the steps murdaugh took, data presented in court sh

yesterday pulte made a 12-month high, i believe, so clearly they're not seeing the long-term n demandemographics or something else, this is telling -- maybe telling the fed that the economy can withstand what's been thrown at it so far. >> bill snead is smiling this morning. i know that much thank you, we appreciate it. >>> widely followed stock picker cathie wood acknowledging last year was a tough one for her innovation focus strategy. she joined us in the last hour she called 2022 a big inflation and interest rate scare that she says hurt long duration assets particularly hard, and she stressed what the data has been saying that she says inflation is unwinding >> we think the market is leading the fed. the bond market, i think we're down to 3.5% today on the ten-year treasury bond yield the bond market is basically saying the fed is close to the end of this tightening move, and is also saying that inflation will surprise on the low side of the expectations >> and then on bitcoin, we talked to her about her base case for bitcoin by the year which she says 2030, she says is now above