revved fin is redfin is talking about consolidation. mcdonald's thinning corporate ranks.g on from what we were last year but but percentagewise it is not huge yet. >> correct. neil: what do you make of it? >> i think companies hired up during the pandemic and coming out of it. i think big tech is a prime example, nine times out of 10 they're the smartest people in the room. they thought their business model during the pandemic would continue for a really long time or the foreseeable future. guess what. we have seen the future, it isn't 100% anymore. they hired way too many people. it is not like they're going below prepandemic levels. neil: that is a good distinction. that you made. 20 was unrealistic barometer. >> 2020 we had terrible second quarter. it ramped up. end of year was fantastic. 2021 was off the charts. the fact that recession is measured by two consecutive negative gdp quarters, you're comparing that year-over-year to 21. of course '22 will go down. we're adding quarter of a million jobs per month. neil: 10.5 million. >> correct. ton of job openings. we have

redfin says over the last 12 months, the price of the average home, the median home in san francisco, has dropped more than 10%. in san jose, it dropped 6%. and in oakland, 5%. however, despite the dropping prices, the housing market has come to a near standstill with low supply and low demand. you can blame that at least partly on the combination of lower stock option values and higher mortgage rates. >> we knew coming into this year that the bay area's kind of particularly sensitive to rising interest rates because those mortgage payments were already pushing the bounds of what even upper middle-class people could afford to buy. >> those rates are sky-high. let's bring in our business and tech reporter scott budman. scott, lower stock options, layoffs in the silicon valley, no more bonuses for a lot of people. is this kind of what we're going to go through now? >> i think you hit it on the head when you said that's the reason for low demand. people are concerned because they don't know about their jobs and if they'll even have their jobs for the next six months, not to mention six y

glenn kelman, ceo of redfin. we have chad pergram, the ceo of all things capitol hill and knowing where everything is and what everyone is doing. what's the latest? reporter: the house moved to first official vote of the day for speaker and this is the twelfth overall vote and in 1821, they did in fact elect a speaker on the twelfth ballot, philip barber of virginia and don't think they'll elect them on the twelfth ballot today and here's the nomination for this ballot here. jim clyburn, the democrat of south carolina, nominated hakeem jeffries, mark garcia republican of georgia nominated fellow californians kevin mccarthy. matt gates nominated jim jordan and kevin her honor, republican of oklahoma. he's not in nomination right now and not to say somebody couldn't come up and vote for byron donalds if they wanted to. that's a possibility. we really don't know and this morning the chances of that are low and my colleague isha encountered mccarthy in the hall and indicated there's no deal and they're still processi

redfin says san francisco prices are down 10% from a year ago. in san jose it's 7% lower. we spoke with one leading economist with some advice for anyone now looking to buy. >> if you are buying right now you are pretty much in the driver's seat. you can take your time when it comes to touring homes, submit an offer that's a bit aggressive, under the asking price and ask for what you want because now is the time to strike if you have the means to do so. >> there are still some drawbacks in the current climate. mortgage rates rising and long-term monthly payments will likely be comparatively high. >>> skyrocketing egg prices have grocery shoppers weighing extreme measures to keep their fridges stock. the bird flu has been mostly blamed for the egg crisis, but now there are questions if the egg producers have a hand in keeping costs high. nbc news brian cheung shows us the new questions being raised. >> reporter: high egg prices and demand have users on social media cracking jokes. but it's the nation's largest egg producers now facing the spotlight amid allegations of foul

according to redfin new listings for homes for sale are down 22% year-over-year. neil. neil: thank you for that. madison i think we mistakenly showed you a number month-over-month, down half a percent year-over-year. downward trend would normally be greeted favorably. it is not greeted now because of some slowdown attached to that. we're separately watching this justice department corralling if you will of bitcoin and cryptocurrencies. we don't know the degree which they hope to rein them in. separately we're getting a report that the u.s. treasury has identified a virtual currency exchange. whether it rivals what we know in our own crypto exchange. it's a money laundering concern apparently related to russia, illicit finance. this might be separate what they're talking about there. a lot of questions, very little time. andy otto joins us, tennessee republican congressman. congressman, you guys have taken over the house. these are kind of issues you do worry about. we don't know the details of rival crypto exchange or crypto in trouble. we do know a lot of colleagues ho

seattle, a 3.8% drop and phoenix, a 3.5% decline data from redfin shows that here in y area free month saw the biggest year-over-year decline. a 10% drop close behind san jose. we saw an 8.9% to climb mountain view. 3.5% decline. and 0.2%, 2.5% decline. notably median sale. price is a did increase in redwood city which saw an 11 point one percent increase. coming up, the forty-niners and the cowboys. they have a storied history in both the regular season and the playoffs. >> this is going to be good one. coming up next in sports, aaron wilson will have the latest on this week's matchup and how this rivalry still lingers into botin about 6 week famous bay bridge lights are going to go dark. the nonprofit behind this art installation says the hardware is failing as kron four's. noelle bellow reports tonight that group is helping millions of dollars in donations will come in and allow them to reinstall this one of a kind display. >> and >> what what the bay bridge look like without its iconic twinkling march 5th, the bay area. we'll find out the hardware is failing. >> it's actually fairl

redfin data, zillow data, down 1.6% on rents, still up 6.6%.it comes down below expectations, we're off to the races. food is hurting us but but far this is the one. charles: food is outrageous. have to trade gold bars for eggs. wall street doesn't pay attention to food and energy this is the wall street and main street. this is cursing most americans right now what about the shelter number? a lot of folks are saying this number is so antiquated, the way they find it, really shelter is a lot less more onerous what it comes in tomorrow? >> exactly right. what happens the fed looks at data with 12 month lag. i need you to look at last three months that number is coming down quickly. that is where people pay to live. that is so important. food is laggard. takes 12 to 14 months to fix food. we're not there yet. energy, house prices, house rents matter more. charles: rents what we're looking at? >> yeah. charles: tomorrow, 6.5% out of 25 analysts the top is 6.5, the bottom is 6.3. so much more consensus. what if it is 6.3? >> we're off to the races.

did you, the redfins, think it was all over, yes, there was hope, no, everything is just beginning, what free. what else do you need? you just came here for me and i need you. behind you was clearly a debt. well, whoever wants to be the first to be tormented has those who wish and there, give me a counting rhyme. count pick someone. well, hurry up, let's be quiet. yes, then i will choose. well. a hedgehog came out of the fog and took a knife out of his pocket. will i will cut and beat. it's all the same to you to drive you a mentya to drive you. well, what's scary? no, it 's in your place. not needed at all. yes what a terrible person to shoot yes, but i do not. yes, what will you do? parking parking you say. underground parking is a chance you've got bags to carry. tired of it in the end. so come on, get your bags. hello where we already left the building. we are not kamikaze. don't scare me. all the same, even if he registers in the zone, you understand. what do you want from me, only playfulness is required , what should i do? listen to me attentively. hostages from all sides, apparen

even though a new report from redfin chose prices have fallen in some cases by double digits, year over year. let's talk about the challenges and the opportunities in this changing market by turning as we often do to deidre join her longtime east bay realtor at red oak royalty and oakland. thank you for being with us. thanks for having me says prices dropped about 10% of san francisco 6% in san jose. you really focus on the east bank. what's happening in your area? so what i'm seeing is prices more around the 2020 market. so as you know that in 2021 in the first half of 2022, the market went bananas, very much favorite sellers. i mean, it was ignited by covid. it was fueled by low interest rates. and then the stock market was great. so people were just taking on a lot of risk. paying a lot of money to get any by a million dollars in some cases. yes, absolutely. but the thing to know is a lot of people were pricing very low to get that multiple offer. so a lot of people in the east bay price about 20% under value to get the bid up, but then it went even higher due to just the kinda me an