joining us live now what this means for your pocketbook is redfin. chief economist daryl fairweather. good afternoon to you. >> here, although i is at the dolby getting that a correct there. daryl fairweather. yes, straight. all right. so let's start with the numbers. we know the fed slashed interest rates last week by half a percentage point, but a half percentage point. so alice is impacting borrowing rates broadly across the housing market for those looking to buy right now. >> what's making more affordable to borrow to for the same price go home. i'll be sitting about $400 and in bay area markets. well, over $1000, a month that homebuyer saving for the typical price. tom, just because interest rates have fallen so much since earlier this year. >> okay. got your report. also says the average 30 year mortgage rate fell to 6.1% in mid-september from roughly 7.2% at the end of april. this was before the fed made its latest cuts. can you walk us through what was happening there? >> well, the market was anticipating that that was going to cut rates. ec

redfin is a really cool idea. really cool idea.d of no load index fund cheaper approach to real estate and retail real estate residential real estate may work. but they don't have earnings until 2028. so that's a no for me. >> wow. >> if you wanted to speculate with it. i know. they're not making money. they're losing money still. >> you think it will be four years? >> people have to chair the paradigm. >> is the company saying it will be four years? they've been around for a while. >> no, it is. and that's according to fax set. so that's the consensus analysts out there that cover the stock saying it will be 2028 before they have a profit. that's hard to buy. maybe you get a great growth company and make big money by taking big risk. i'll get rich the old fashion way and let my money just kind of accumulate and grow in the stock market. not trade it too much and not pay too much in taxes. i think every one of the names today is kind of going to be a trade and going to be a long slog. >> got to correct you, michael. making money th

es que de acuerdo con redfin, una persona necesitaría un ingreso anual de casi 300.000 $ para poder adquiriro es de 200.000 $ al año. el alcalde de antioch, lamar hernández thorp, está desarrollando un plan con el que pretende mantener abierta la estación de amtrak de su ciudad. recordemos que autoridades planean cerrarla y construir otra a 6 millas de distancia en oakley. pero residentes de aniak se oponen y alegan que en la otra ciudad hay menos viajeros. el alcalde planea presentar su plan el siguiente 20 de septiembre. hablemos ahora de francine, que pasó de ser tormenta tropical a huracán hace minutos. va con rumbo a texas y luisiana. por el momento va acompañada de vientos de hasta 65 millas por hora. por ello, las autoridades están pidiendo a los residentes a que tomen medidas preventivas. al sur del país se espera que este huracán toque tierra el miércoles. y seguimos hablando sobre las condiciones del tiempo. le echamos un vistazo a la ciudad de san francisco. vemos esa cámara bastante bueno. lleno de gotas de lluvia. marcelo. qué está pasando en estos momentos con las condiciones d

according to data from redfin, san jose is the most expensive city to buy a starter home.edian starter home is just under $1 million, with the monthly mortgage payment of about $7,500. that means you need a combined income household of nearly $300,000 to afford a starter home in san jose. in san francisco, you need about $280,000, and in oakland, about $200,000 to afford it. the analysis assumes you pay more than no more than 30% of your income for housing, and make a 3.5% down payment. a surprising new benefit of weight loss drugs. a new study finds they could cut the risk of dying from covid. the study was published in the journal of the american college of cardiology, and it found that people taking weight loss drugs like evy had a 33% lower chance of dying from covid. they were also less likely to experience other adverse effects from the virus. researchers say the benefit stems from semaglutide, the active ingredient in the latest crop of weight loss medications, which may help in the reduction of heart attacks and strokes. the highly contagious avian flu has now spre

also, real estate brokerage firm redfin reports a starter home right here in the bay area will require to earn $285,000 a year. you can find these stories and much more right there@ktvu.com. >> the first of its kind, a new night market, will make its debut in oakland this week. a look at the mission behind the free event. >> but first, the san francisco rec and park department is honoring workers all across the city and thanking them on this labor day holiday from gardeners and recreation staff to custodians, park rangers and many, many more, the department says thank you for making the city's park system one of the best in the nation . i'll say what city hall insiders won't. we have a drug, homelessness, and economic recovery crisis, because the system that's supposed to fix things is the problem. record budgets. fewer officers. business killing bureaucracy. the insiders won't change a system built for their benefit. i'm daniel lurie and san francisco needs a mayor unafraid to take on the status quo, bring accountability, and stop the excuses. two blocks of eighth street will be devot

according to redfin, you'll need a yearly income of nearly $300,000 to afford a starter home in san jose. only a little less in san francisco and close to $200,000 a year in oakland. they're numbers that put homeownership almost out of reach for most first time buyers, particularly young ones. i think that's an immense a lot of pressure, especially on gen zers, we try to i don't even imagine. i don't picture myself owning a home. you know, 40 years later down my life, you know? so it's just it's a lot of pressure. i know some gen zers, some millennials have given up on you know, ever thinking they'll have a home, a starter home, they'll be able to buy one. so it's pretty rough. it's tough. yeah. i mean, you know, you mentioned millennials. we just talked to a gen z. there is nothing sadder for parents, right, than to think that your kids are going to grow up thinking, well, the bay area is nice, but i guess i can't live here. and that's really sad. we survive because young people start companies, start families, do things like that in a community, and our community is pricing these young

according to redfin, the house last sold from 1.5 million. so 100,000 more in july of last year. when it's the floors and that's more than the wall. that's a big-time fixer and the ceiling. wow, that's something that's everything. and yeah. apparently we're being told the ceilings are peeling so pay very least going to take a lot of money. that's it for kron. 4 news at 6 and thank you for joining us. of course, we've got more news coming up, beginning at 10. >> and good night. i'll say what city hall insiders won't. we have a drug, homelessness, and economic recovery crisis, because the system that's supposed to fix things is the problem. record budgets. fewer officers. business killing bureaucracy. the insiders won't change a system built for their benefit. i'm daniel lurie and san francisco needs a mayor unafraid to take on the status quo, bring accountability, and stop the excuses. ♪ ♪ >> announcer: bathtub terror. >> i was in the bath. >> announcer: joking wow soaking wet. shaking with fear. >> but she is telling us da

zillow, remax, redfin, we've got anywhere real estate, actually, redfin is just slightly lower, remaxis un, rh -- unch. and as the benchmark interest rate comes down by the federal reserve, 30-year fixed is already at an 18-month low. so it was kind of front-running what was going on. so we expect to see that mortgage rate come down although peter schiff said is it probably will not. remains to be seen. we've got the home builders like pultegroup up about 11%. not huge -- 1%. refar and dr horton -- lennar and dr horton slightly down. markets and investors are figure out what to do now that the federal reserve appears to be in at least a rate cut or rate-neutral cycle. what is the trade? how should you be manipulating your portfolio now in this new atmosphere? let's get right to the floor show. joining me now, chief market strategist for the americas, gabriela santos and slatestone chief market strategist kenny poll carry. gabriela, adjusting portfolio, should that begin right now for our viewers? who? yes. and perhaps even a few months ago, but it's not too late to the adjust it now.

a starter home will cost you 900,000 bucks, according to redfin, which compiled the numbers.means you need a combined household income of $300,000. the number, i think that's an immense a lot of pressure, especially on gen zers, we try to i don't even imagine. i don't picture myself owning a home. you know, 40 years later down my life, you know? so it's just it's a lot of pressure. it's a lot of pressure. and there are a lot of people who simply aren't buying homes. she speaks for a lot of people. san francisco came close to the top as well. in terms of how expensive it is. close to as expensive as san jose. it's tough out there. it's tough. it's a lot to grasp for that generation. all right, let's turn things over to jeff. talk about the changes that we're going to see. and comfortable weather. looks like it's going to stay with us next seven days as i'm tracking two different cold fronts tomorrow sweeping across the west. now there is some rainfall with it, but everything i'm seeing right now keeps those rain chances over washington and oregon for us will be on the dry side

. >>> b.riley is upgrading redfin to a buy.growth as the real estate cycle turns around. t >>> time for the global briefing. tesla is making a six-seat model y in china. production is slated for next year in shanghai. tesla has not commented on it. it comes as tesla has had the best year in china up 40% for the month of july. >>> the u.s. government seizing a private plane seized by maduro. it was transferred to florida for alleged violations of export control controls. an arrest warrant has been issued for the opposition candidate. c >>> cathay pacific inspecting airbus after the downed plane after takeoff for switzerland. >>> volkswagen can't rule out closing plants in germany due to industry headwinds. the automaker must drop a pledge that has been in force for 40 years. >>> shares of rightmove are lower after soaring 20% yesterday. >>> coming up on the show, the one word every investor needs to know today, plus call it a controversial buying spree. the unlikely buyers on the dozen of all bank deals this year and why it may

. ♪ ♪ rachel: new day from the real estate company redfin showing a massive increase in investor home the purchases they made this quarter were single family homes, and experts believe they're holding on to them to cash into the rental boom. now look at this, 29% of miami homes sold went to investors along with 24% from san diego, 222 in las vegas -- 22% in las vegas and to 20% in phoenix and cleveland. so what does this mean, and how could it impact younger americans looking to buy a house? here to discuss is real estate developer and licensed broker uri man. uri, thank you for joining us this morning. explain to our viewers why these multi-national investment firms are snatching up these single family homes. >> yeah. this shines a light on the tremendous housing shortage that we have in the united states. right now virtually every market all across the u.s. is missing housing units, and we don't have enough homes for people to buy. so the american dream is under attack. and, of course, when things are scarce, you get investors that want to come in because values are going to the go

some good news for bay area, homeowners redfin now reporting a decline in mortgage rates so far they're down to 6.1% from the more than 7% back in the spring. and that's pushing housing payments down by thousands of dollars here in the bay area. san jose saw the biggest drop in monthly housing payments the drop is due to again. those lower mortgage rates in anticipation of the fed's historic interest rate cut. san francisco and oakland also saw the next biggest drops in median housing payments. >> really, really bold there, too comfortable with people. >> still ahead of the kron, morning news reports of multiple dogs attacked and killed by coyotes, a popular san francisco park. what pet san francisco park. what pet owners need it is inevitable. they will grow up. (♪♪) discover who they are (♪♪) what they want from this world. and how they will make it better. and while parenting has changed, how much you care has not. that's why instagram is introducing teen accounts. automatic protections for who can contact them and the content they can see. (♪♪) ♪ ♪ irresistibly smooth chocolate. to

according to redfin, the house was last sold for 1.5 million. that was in july last year.ust a little bit of a fixer-upper from 1.4 million. all right. coming up, less than a week before their first game, another missing piece falls in place for the forty-niners. >> we're taking a test drive. involve those brand new all-electric seven-seater suv with some cool tech inside and don't miss the thor hammer headlights. i'm rich demuro. that's coming up in bridge on that's coming up in bridge on tech. after careful review of medical guidance and research on pain relief, my recommendation is simple: every home should have salonpas. powerful yet non-addictive. targeted and long-lasting. i recommend salonpas. it's good medicine. ♪ hisamitsu ♪ >> all right. let's talk about the forty-niners and star tackle. trent williams has returned to the red and gold with a brand-new contract. he agreed to a three-year deal more than 82 million dollars kron four's. ben ross has the details. the homecoming of sorts for the forty-niners and santa clara's. the team welcomed all pro left tackle tren

according to redfin, the house was last sold for 1.5 million dollars in july of last year and maybe sellingfor a loss. well, a family on mexican grocery store has opened its 6th location in the bay area. me rancho is now open in san francisco bay view neighborhood. mayor london breed said the new grocery store they're in the bayview is a crucial step towards addressing food insecurity in that neighborhood. the new location is on 3rd street right near laughing month brewing. >> it's 66 and coming up in the next hour, the kron 4 morning news. get ready for the heat. a heat advisory kicks in this morning at 11:00am when we'll see these temperatures rise to the highs you see around the day right here and john will have the details in just a couple of minutes. >> and the ongoing effort to clear out encampments across the bay area is a concern now because of something that's going on in the east bay. we'll see what they want to do and charges are filed in the shooting that injured forty-niners player ricky i'll say what city hall insiders won't. we have a drug, homelessness, and economic recovery

according to redfin, the house was last sold for 1.5 million that was in july of last year. maybe a little yard work, too. more americans are choosing to dine out at restaurants all by themselves. according to a new survey by the reservation site open table, solo dining is up nearly 30% over the last 2 years. the company says remote work could be one factor because people who are workino alone need to take a break from their home office so they go eat by themselves. it's also a lot easier for solo diners to get a table at a hot restaurant that might not have a reservation for a bigger group and some people just like, you know, being alone up an attempt to cut their food without having to socialize. >> i have so many friends that i love. spending time with them. i also like to have some time just by yourself. and when you're by yourself, i think you can. >> notice so much more right about the on beyonce about, you know, the service that you're getting about the food, you can order whatever you want, which is a mom often is not the case. >> some restaurants or even catering di

that, according to the real estate brokerage site redfin, broken down monthly payments would be $7,000 more. as san francisco starter homes went for a median of $950,000 in july. nationwide, the estimated monthly payment for starter homes requires an annual household income of about $80,000. >> more and more employers are offering workers what's known as mini sabbaticals or adult gap years, in an effort to retain employees and minimize worker burnout. >> the sabbaticals last anywhere from three months to a year. workplace management experts say it's a trend that acknowledges that many workers are no longer taking a traditional career path, on which a person remains. with a company for decades, climbing the ladder there before retiring. >> today's employees are looking for more meaningful experiences and the ability to integrate both their personal growth and their professional development. so what i think you're seeing with employers is that they're starting to become a lot more flexible with the policies they have to support this mindset and demand. >> experts say employers are also h

in mazzulla, the cost of a home rose 70% since 2020 according to redfin.$350,000 now costs nearly $600,000. and it's not just montana. low supply and rapidly growing prices are pressing americans throughout the country. as our nbc poll shows, for many young voters, in particular, nothing matters more to them. cnbc's emily wilkins is reporting from montana. also back with us, julian castro, former hud secretary, msnbc political analyst, as well. owning a home has long been a key component of the american dream. how difficult is it to achieve that right now? >> well, chris, it is tough everywhere in the u.s., but it is particularly tough in microsoft. -- montana. you showed the stats. you have a lot of out of staters moving to montana. obviously, you can see the beautiful beauty here. but that is driving up the demand for housing prices. meanwhile, on the supply side, you have a shortage of labor and contractors. that's driving up the prices of homes. it is gotten to the point where the national association of realtors has actually ranked montana as the most

redfin says you'll need a salary of close to 300,000 a year to afford one. it's similar in san francisco. it's really hard now, hard also for adults who say the next generation just can't afford the bay area, they wouldn't be able to. they wouldn't be able to. yeah. salaries are not what, you know, they actually need in order to buy a home. a tough realization, given that silicon valley was largely built by young people starting companies in san jose. scott budman, nbc, bay area news. well, it is going to be a sleepless night for a lot of people in texas, louisiana and nearby states as hurricane francine barrels toward them. the storm officially became a hurricane today. governor of louisiana and mississippi have already declared states of emergency. a hurricane warning is in effect across most of the louisiana coastline. meanwhile, a storm. pardon me? a storm surge warning is up from the area outside of houston all the way to mississippi. and the alabama border. we are continually preparing for this storm. we will keep our citizens informed. again, i'm conf

data from the real estate company redfin shows that the typical buyer in san jose will save more than $2,000 a month, based on a 6% mortgage rate. that is the biggest drop in the country. san francisco and oakland were second and third on that list, with savings of more than $1,500. other california cities to see a substantial payment drop include sacramento and san diego. >> tonight, hurricane helene is expected to make landfall in florida sometime tomorrow, and forecasters say it could be the strongest storm the u.s. has seen in more than a year. helene could land as a category four storm, with winds potentially reaching 115mph. the state of florida provided busses today for people to evacuate from the big bend region, and they were taken to shelters in tallahassee. some people in the path of this hurricane say they are used to the warnings, but others say they are a lot more concerned about what is coming tomorrow. for more, let's bring in our chief meteorologist, bill martin. and bill, this storm. it's a serious deal. >> yeah, it really is. right now, it's a category one, alex. it

according to redfin, the house was last sold for 1.5 million. so 100 grand more last july.pace capsule that brought 2 astronauts to the international space station will return to earth this week without the astronauts. they were scheduled to fly a weeklong test mission on the boeing starliner. but now their stay is going to last 8 months. kron four's washington correspondent vinay simlot explains why. >> the boeing starliner is scheduled to undock and return to earth this friday. american flag covers the window. astronauts, butch wilmore and suni williams won't need to see out because they won't be on board. >> they're packing up the starliner and they're getting it configured for the return. ignition. >> the astronauts launched on june 5th scheduled for a weeklong test flight. they likely won't return until february of 2025. another jet because of thruster failures and helium leaks not selected to bring the boeing starliner back without crew. boeing believes the starliner is safe enough to bring the astronauts back to earth. but nasa leadership ultimately disagreed which l

financial disclosures are available at sfethics.org $200,000 a year, according to a recent redfin report the top five cities to purchase a starter home are in the bay area. the buyer of a median priced starter home must earn $300,000 in san jose. that's more than anywhere else in the country. second on that list is san francisco, at more than $285,000. oakland is $194,000. >> after a year long pilot program that saw the installation of bike lanes in the center of valencia street. san francisco will now be moving them back to the side of the road. the change in the mission district comes after feedback from many business owners, cyclists and drivers who said the center bike lanes are not ideal. complaints started coming in almost immediately after that one year pilot program began. business owners said the changes made parking impossible. cyclists cited the dangers of having to cross from the side of the road to get to the center lanes and changing them back. the city says it has three goals. >> one, first and foremost, improving safety for all road users. two is preserving economic vital

. >> chen zhao, head of economic research at redfin, says her advice to homebuyers is to not try to time mortgage rates because that's impossible. you can always refinance later. >> if you are looking to buy a house right now, you're looking at a market with very limited inventory, probably, and also a lot of affordability challenges. so if you find a home that really works for your family and you can afford it, i would go for it. >> the hope is that the new rate cut helps mortgage rates drop even more, but we'll have to wait to find out. >> mortgage rates could go down a little bit more. they could stay pretty flat. they could actually go up a little bit more even though the fed is actually cutting. >> experts say you shouldn't expect to see an immediate difference with this announcement from the fed's. what could be more significant is the effect of a series of rate cuts expected over the next few months and into 2025. in walnut creek, amanda quintana ktvu, fox two news. >> wall street hanging near its records after the federal reserve kicked off efforts to prevent a recession with tha

according to redfin. >> the house was last sold in july last year and one for 1.5 million. >> there'sstreet in san francisco's chinatown where you will find a fortune, not a monetary kind this week kind. fortune panel young takes us there. >> don't blink or you'll miss ross ali, a block of san francisco chinatown's grand avenue. a telltale line out the door. >> of the rhythmic matter of the testing machine point the way to the city's busiest family bakery, which is whipping out nearly 10,000 fortune cookies. every day for the past 62 years. my mom's mixing the dough wanting several law. >> and then shuffling of the are even want go now to heat up the machine up to 4 inches and 5 degree. and then we stop making about an >> and the process hasn't changed much over the years. they the real is stepping out. the flavor do rounds. then each printed fortune is handpicked and full done before the do hardens into french union version of women by professor, which great. >> and i-40 but customers can order messages for birthdays, gender reveals. >> and more risque occasions. >> we mean got on wh

daryl fairweather chief economist with redfin, thank you so much for your insight this afternoon. >>now that the a's have played their final game in oakland. many are now asking what happens next to the coliseum. kron. 4 charles clifford has details after speaking with the african american sports and entertainment group. the new owners of the coliseum. >>well, for the first time since the oakland coliseum was built in the 1960's, there are no professional sports teams playing here. what all goes well in the years ahead, this entire site will get a makeover and professional sports will return starting next year. >>in an emotional and rousing display a's fans said goodbye to their team during thursday's final home game at the coliseum. but the cheers have faded away. the a's are moving on. the coliseum now sits quiet, but definitely not forgotten. in recent months, the oakland-based african american sports and entertainment group or a a s a g has reached deals with the city of oakland, alameda county in the a's to take over sole ownership of the property, which includes the nearby o

that is according to redfin, the real estate location broken down.payments would be $7,000 or more. as san francisco starter homes went for a median price of $950,000 in july. nationwide, the estimated monthly payment for starter homes requires an annual household income of about $80,000 a year. >> actor james darren has died. we'll take a look back at his life and the roles he'll be remembered for. >> also, san jose native joey chestnut took part in yet another hot dog eating contest. the new record he just se ok, 500 deluxe garden gnomes. wow. i only meant to order five. there's not enough money in my account for these. i'm gonna get charged. two things i just can't deal with. overdraft charges. and garden gnomes. but your bmo smart advantage checking account gives you an extra day to avoid an overdraft fee. nice to see a bank cutting people some slack. mistakes happen. and we give you time to correct them. so, you don't like gnomes huh? what about that one? that one i like. a lot. ♪ bmo ♪ going to take to protect the city. then let's hire more pol

you can see it on, if you go to the sf excuse me, redfin, you can see the original house, which is very interesting. and as i said, it was originally 3200ft!s. it's nw 9700ft!s. both of these had horizontal and vertical expansions with facade change. this one two. no demo calcs, no demo calcs anywhere on the pym or in the plans on dbi records. that's concerning. i think now there's greater scrutiny, but it's still a problem. the clarifications have been fixed, but the demo calcs are still not stringent enough and here's why. this is a current project underway right now. it's demo calcs were very interesting. i can't have time to talk about that, but i will. some other point. here's another picture of it. okay so the first one was july 3rd. note the two sides, a little bit of pieces of the original house left. it's only one piece left there on the left side. and here's the original house. it's a horizontal vertical expansion with facade change. and this to me is why the demo calcs need to be adjusted. if they'd been adjusted, as i suggested in my letters, this thing would have been a dem