schiller believes hiring a couple more officers for a fraction of the price of the cameras would have done more. >> i hope that i'm wrong. i hope this is an effective tool for the police. >> reporter: along with the 7 hundred $700,000 that the city dropped to buy this entire system, they'll be paying over $10,000 every year in maintenance fees. >> we've heard of cities like tiberron using these kinds of cameras. has it worked? >> reporter: that actually makes it a lot cheaper. but they are saying since they installed cameras, crime has gone down by about 50%. >> all right! seems like a good investment. >>> a report from britain's guardian newspaper. verizon is turning over the phone records of millions of its u.s. customers to the national security agency under a secret court order. according to the newspaper, the order was issued in april and it good until july 19th. the white house, nsa, and verizon have all declined to comment. joe vasquez is looking into this. we'll have more tonight at 11:00. >>> a new twist in the political scandal involving santa clara county's disgraced board

despite what rick schiller considers one glaring problem. >> other cities like long beach have used this and it hasn't been effective and reduced crime. >> just from the license plate readers alone i don't expect to see a drop in burglaries. >> reporter: the chief says it's going to take good policing and community involvement too. schiller believes hiring a couple of more officers for a fraction of the price of the cameras would have done more to cut crime. >> i hope that i'm wrong. i hope this is a very effective tool for the police. >> reporter: christin ayers, kpix 5. >> tiburon is the only other bay area city to use the license plate readers. they have been in use there for more than three years. and the city has seen a 50% drop in crime. >>> it is 4:41. coming up, do you think before you post? a lot of people don't. how social media is hurting job hunters. >> plus, a judge rules in favor of a dying girl in need of a new lung. why not everyone is happy. >> and busted by dna. the famous bay area man accused of impersonating another politician. we'll be right back. suffering from cyst

posting the largest gain since the case-schiller index began rising 2.5% and on top of that region to five-year highs this month with the confidence has risen three months in a row. we will examine the remarkable turn from last week's despair to a new perspective given those encouraging reports on what has been a strengthening economy and investors were not paying attention to the spectacle of a dour president brimming with eager for a war on coal. obama exercising his executive power to direct the epa to force tough new regulations on coal-fired power plants. the president had no need for background props but instead used himself repeatedly wiping sweat from his brow declaring climate change is happening now and no speech by this president would be complete without an attack on it of a strong man with the offering of at least one false choice. >> i have patience for anyone who denies this challenge israel. we don't have time for a meeting of the flat earth society. [cheers and applause] >> sticking your head in this and make you feel safer but that will not protect you from the comin

robert schiller is the co-author of the authoritative cases schiller home price index and joins us nowrritory. the early 2000's we saw something between 20 and 30% in the year. but it is it -- it reminds me o3 1998 at the very beginning of the last boom when home prices are going up about this rate. stuart: mortgage rates are going to go pretty quickly. the think that will have an impact on home prices and vine? i think we have an abnormally positive. >> they reached record lows last fall, and people react to a record low. you think the mortgage rates cannot go down much further. if anything they will go up. yeah. this shortage of houses on the market. said that spending now. stuart: if it goes to foreign and a half%. there will be a negative impact. >> six months to another year. but they could go down again this same way they did after the 2009-standard and which was generated by the home buyer tax credit. they win all the way down. stuart: if we come back 12 and a half%, just about 12% in april over april the previous year, how far we down from where we were at the highs of late 200

robert schiller joined us earlier and had this to say. >> these were strong numbers. bet they're going to keep going up. a lot of people are flippers now, and i think i can't tell them they're wrong. i just don't know about the longer term. but for the short run, it's looking solid at the moment. >> yes. the flippers versus the longer term case and how will rising rates impact this market? our next guest is watching housing demand across the country and has realtime information on what buyers and sellers are thinking. let's bring in glen kelman. good morning. >> good morning. thanks for having me. >> thank you for being here. can you tell us a little bit about what red fin does? >> we're a technology powered real estate broker. we have the world's best real estate website but also hundreds of our own agents touring thousands of customers writing offers every week. we track everything our customers do on our databases. >> in a market that's desperate for information on what's really happening in the housing market. is what you're saying on the ground confirming some of

the s&p kay schiller was up in april. surpassing expectations. it also had the biggest annual gain in seven years, due to partly tightening inventory and fewer foreclosures. sales of new homes rose to the highest level in five years, to an annualized rate of 476,000. the market certainly felt different this week. did anything fundamentally change, or did they just take a deep breath and redetermine what ben bernanke was talking about. university of chicago boot school of business professor, and host and senior editor of american public media's marketplace. gentlemen, good to see you. thanks so much for joining us. what is your take? so many fed members this week, governors, officials spent the week walking back ben bernanke's comments basically trying to make it clear that interest rates aren't going up anytime soon. do you think bernanke miscommunicated to the market? >> maybe. i think -- >> did the markets misinterpret? >> i thought was what happened is the market was taking a drink of water, and he said something, and then they spit it out and

marketing chief steve schiller took that personally.'t innovate anymore, my ass. [ laughter ] [ cheers ] >> reporter: he was showing off the macpro, which will be coming out later this year, a professional machine. the star of the show, though, was ios 7. that's a very deeply revamped version of the software that runs the iphone, the ipad and other ios devices. johnny i, the industrial design guru at the helm as far as the software look as well. now, on the mac, we also did get some new hardware. take a listen to phil schiller describing that. >> these new applications deliver the most important features we want in a portable device. all-day battery life. >> reporter: not a lot in terms of new design there, but the battery life on them is impressive. the new version of os 10, which runs macs will be mavericks, no more big cats, and locations in california that inspired apple, a naming convention they used to use, a code name hardware. also, this is especially of note. new on siri bing search. that's right, not google search, but bing se

. >> according to the cage schiller index, san francisco experienced the biggest price jump in the countryith home prices going up nearly 24% from april of last year to this week. walnut creek realtor has seen the booming market firsthand. houses are selling quickly and often well above the asking price. >> the last two listings, one $175,000 over list skies another $121,000. >> overasking? >> overasking. >> multiple bids? >> multiple offers. >> this is her latest listing, a 4,000 square foot room that went on the market for 1,000,014 the thousand dollars. the first open house is this week end. offers will be accepted monday. seller's market is being driven by a lack of inventory in many bay area city, and it's happening despite rising interest rates. >> interest rates are trial still excellent. >> marsha is with a mortgage company in alamo. >> the rates are still great. there is not a huge difference in the differential and monthly payment. >> and if interest rates do go up, realtors think that might provide some relief for buyers by at least temporarily slowing the rapid rise in prices.

. >> according to the cage schiller index, san francisco experienced the biggest price jump in the countryth home prices going up nearly 24% from april of last year to this week. this walnut creek realtor has seen the booming market firsthand. houses are selling quickly and often well above the asking price. >> the last two listings, one $175,000 over list price and another $121,000. >> overasking? >> overasking. >> multiple bids? >> multiple, one had 29 offers. >> this is her latest listing, a 4,000 square foot room that went on the market for $1,000,014 the thousand dollars. the first open house is this weekend. offers will be accepted monday. seller's market is being driven by a lack of inventory in many bay area city, and it's happening despite rising interest rates. >> interest rates are trial still excellent. >> marsha is with a mortgage company in alamo. >> the rates are still great. there is not a huge difference in the differential and monthly payment. >> and if interest rates do go up, realtors think that might provide some relief for buyers by at least temporarily slowing the ra

>> well, tomorrow, we have a couple consumer confidence numbers, case schiller numbers, durable goodsg around because of the airplane orders giving a sense to the actual health, the second derivative trade and gdp revisions wednesday. the imbalances on close were very, very alike. could be the selling was exhausted as you pointedded out, once the ten-year hit the 260 #-plus number back into the 250 range, people got a little bit of confidence. the comments were useful or helpful, of course, psychologically, and so off to the macropicture the rest of the week. david: lincoln ellis at the cme. appreciate it. >> thank you. liz: glad he talked about as the yield fell later in the day, the markets came back a bit, and it was financials that really got hammered on the rising interest rates who are underperforming in the last week as investors are concerns about the impact of the rising rates in the industry. david: who is best to benefit from the environment? who would see more red? joining us is the equity research analyst. great to see you, brad. >> good to see you. thank you for having m

later in your program, you will have the case schiller indices.it is still so low for individuals, so my feeling is that, you know, the interest rate situation is still very accommodative for the markets and corporate earnings. >> professor siegel, you reference the housing information coming out today, but all of that is historical. the case will show us what happened with housing prices in april or march. it's not current information, so how do you feel so bullish about looking in the rear view mirror as i said earlier, not looking forward, there are a lot of things that happen around the world to me look fairly scary. >> well, again, you might be thinking of going into china, which the i think, my interpretation is that after the people's bank, china could have controlled that. they just want to put a fear into the lending institutions in china. they're worried about a property bubble, which is really out of control there in china. they don't want the same thing happening there as what happened in the united states four years ago. so that was a

that's according to the s&p schiller index. home prices nationwide jumped april to april.ever. several major cities prices shot up more than 20%. more buyers, limited supply of available homes. the news helped the dow finish up trintle today after four straight days in the red. hey, adam. >> this is pretty good news not only for the economy but people in las vegas and phoenix who suffered very hard who suffered in the housing collapse phoenix up 22% year over year. las vegas up 22%. those of you who live in san francisco where housing prices are already to the moon. 24% increase here year over year. still tough in san francisco. but recovery for phoenix and las vegas. detroit still having trouble. they are the only major city where prices did not go up year over year. one other thing today, shep. new home sales. we are on a trajectory to have the best new home sales season in five years. >> shepard: wow, things are looking up. adam, thank you. barnes & noble is cutting way back on production of nook tablets. the company reported today it will no longer make the color versi

the case schiller housing index showed the largest annual increase in prices in seven years. so, despite dysfunction in washington, despite the sequester, the american economy, once again, shows its core character. flexibility and resilience. a housing revival was inevitable at some point. the united states is the only rich country in the world whose population is growing. we add 3 million people to our numbers every year, thanks largely to legal immigration. that means over time, we will need new housing, unless kids want to live with their parents forever. consumer confidence has hit a five-year high and not without reason. americans have been paying off their debt at a steadyclipse since the financial crisis. the u.s. economy is susceptible to bubbles and manias, but also has the flexibility to adjust. american people and companies change past practices, take pain and prepare for the future. when you compare american companies since 2007 with say japan's great corporations after that company's prices and recession, it's clear that u.s. corporations are pretty ruthless in r

we had the schiller pricing index which was the best it's been i think forever, up 11%. we had durable goods orders, which great. surprised the core number and top line number. and the markets responded, bonds held where they were, ticked up in terms of rates a little bit. that's the window into the future. however the nervousness will return as we get close to the jobs number, as we get close to the next fed meeting. so you can buy really beaten up stocks like citi. we talked about that, how we bought it last week and earlier this week. we talked about b of a, aig. those are really beaten up below levels that moved. other names, i wouldn't buy the commodities still. >> joe, i have three guys who sound fairly optimistic on where this market is going. >> uh-huh. >> you have started to sound towards the end of last week a little more pessimistic in the near term. where are you today? >> i have been that way throughout june. you have to believe in a "v" recovery if you want to buy today. i don't believe in that. i don't think this is a renter's type of market, a tactical ma

home prices jumped 10.9% in march from last year according to s & pk schiller. how far we have come from the big drop in 2009. realty track says the number of foreclosures fell 22% in the first three months of this year, compared to last year. but mortge rates are climbing. the 30-year fixed rate hit its highest level in a year. now averaging 3.18%. also new signs that housing may be turning into a seller's market. a survey finds a third of americans looking to buy a house have been on the hunt for more than a year. many are willing to compromise to close the deal, meaning things like price or location or items on wish lists are becoming less important. that's good for you sellers. of course, buying a home isn't the only way to invest in real estate. if you're smart about the housing market, you, too, can ride the recovery. home prices are rising, demand is back, but it's not just home buyers and sellers cashing in. when you buy a house, or build a house, you're fueling an entire industry and creating opportunities for investing. and not just in the real estate

schiller once said keep true to the dreams of your youth.ou've spoken often of the freedoms of your youth. the freedom we had today when we were out on the balcony before our lunch, she pointed to the train tracks along which the wall used to run and her memories of riding to her university and then hearing the tracks on the other side and imagining one day that she would be free. and you've not only kept to those dreams but you've also helped those dreams become real. i'm extremely grateful to our partnership. you're an inspiration to me and to people around the world. [ applause ] two years ago chancellor merkel became only the second german leader to address our congress. the other one was adnar. as you quote in your speech, you mention the freedom bell that hangs in the former town hall here, which was a gift in 1950 from the american people to the people of germany and it was modeled after our liberty bell. here in berlin that bell tolled after president kennedy's speech. it rang after german unification. it rang after 9/11 which obviou

apple has become a little sensitive and listen paul schiller on the stage a couple of days okay. >> can't innovate anymore, my ass. >> can't innovate any mo, strong words but is the quit -- not exactly the same certainly, but some say close enough to be a little bit uncomfortable for apple not to move forward because we do have to be fair, right? apple invented that look, and these guys just followed apple so people are saying apple, why didn't you take another leap forward? on a light hearted note, look at this. kind of looks like all the apple execs on the stage wearing the same shirt, one button unbut tonight, untucked, different colors but almost like a. >> are we being too tough on poor old apple? >> the expectations are so incredibly high it's going to be impossible for apple to ever meet them. for apple building a $1 billion business is nothing. the market is not going to get that excited about it. if you launch streaming radio, the market won't get excited about that. they are looking for the next ipad and next iphone, things that can be $10 billion, $50 billion businesses. >> how

. >> we just didn't see massive innovation, despite what bill schiller said on stage. >> this is sort of like, you know, hey, apple, meet microsoft. you used to make fun of them, right? but they get it done. they just aren't that sexy. and what about -- >> exactly, and they've got a ton of money, it's not the worst thing. >> what about the radio service? is that a totally different thing. like we're going into offering new services, radio, for example, competing against new companies. is that smart or sort of just a random shot in the dark? >> you know, it's kind of, again, that's almost a natural evolution of itunes that, frankly, should have been there for years. you could only buy music with apple's music service, while the entire industry was moving towards streaming and apple didn't have any streaming. so, to me, this is sort of an add-on, that if anything completes the product, it's not an evolution, it's not any better than any of the competition. so you know, it felt like, again, they got it done. i'll give them a passing grade, but not that much more based on what i saw today

tomorrow we days case schiller index the new home sales and consumer confident index.those will keep our position, which is the economy in recovery is growing very slowly. i agree with your comments earlier, it's unlikely the fed scale back stimulus any time soon. investors need to use this to add to their portfolio, fixed income and equity, focusing on the energy and the tech sector, possibly alternatives as we move forward. >> darren, you are up, 30 seconds on the clock. what do you want to work on and prepare yourself tomorrow? >> absolutely, tomorrow, we will be looking at oil closed up 1.6% as concerns over the civil war in iraq gens to surface. so that's going to be on our radar. we are also going to be looking at treasuries. we think ten year yield hit high points for the next week or. so we think that can fill back to the 245 level. i think that will be good for equities as people read that across as positive for qe. we will look at lennar data tomorrow. we will see if comment on anything on future guidance with regard to mortgage prices moving higher, mortgage

we expect big numbers, strong fundamentals, sharp improvement in kay schiller, healthy price gains, buthe stocks and we're swimming upstream with the increase in interest rates. >> so are there any homebuilders you would actively take money off the table on? >> we like now, in comparison with the homebuilders, is building products which can benefit from strong housing starts and a modest improvement in repair and remodel spending. so we're much more bullish after the sell-off -- >> the second derivative play a little bit? >> right. they're extremely well positioned at this point in the cycle for incremental capital appreciation. so we like names like fortune brands home and security. we like mohawk carpet. we also like names of massco. if you're thinking about putting fresh money to work, those are the three stocks we would feature prominently. >> many of the companies -- i won't pick on them -- many of the companies had terrible losses during the housing bust. i don't blame them entirely for that. the world changed. should we believe they're fundamentally smarter companies now and they

applause ] >> all right, yeah, that drew an obvious large applause inside the building when phil schillerd that. the stock, which was at the highs of the day, as we came on air, and as the keynote speech began from tim cook about an hour and a half ago or so has now dipped to near the lows of the day. and as i sort of joked earlier, a sell on the news event, this could sometimes be, maybe it's more of a sell on the no news because there hasn't been anything eye-opening yet to come out of this event beyond the expectations which were somewhat lowered going n.no mention thus far of a radio streaming service no, mention of a wrist watch, no mention of anything television-related. no mention of anything else substantial from a hardware standpoint. no refreshed iphones or ipads, not that that was expected, but at least people were looking for something beyond just software refreshes. this entire thing was supposed to go a couple of hours, so there is, you know, about half an hour of that expected time left. who knows what that is going to bring, guys, but i would say that people are clearly lo

schiller lookit those investments are go directly?e of problem investing directly in the chinese companies. you don't know what is in their books but anything involving food in china is another in the leg problems because of the food chain and the mismanagement of food. there is no single answer to that question. adam: so what should i expect over the next six months? continued slowdown? >> this is the start of what will happen and people will understand the old standby that it is inadequate. we need more. adam: thank you for joining us. we will be celebrating something, the corvette. turning 60 on sunday the first of the iconic sports cars to roll off the assembly line. june 30, 1953. all had red interior and cost just under $3,500 now there has been 1.5 million made the world's longest running continuously produced passenger vehicle. hottest car on the planet. but ogle had in 1978 steve grady tops i still think it is the hottest car "on the road" with. >> a 2015 is hot. >> they are all hot. >> this split we are window if you get one

white sadly says he is a employed by schiller elevator is a san leandro and had been on the state inhou about two months. the it is been installing a repair elevators since 1969. he was also a lifelong 49ers fan. >> he was a huge influence and all our lives. he was a great dad. he coached my baseball team. camping, a great that a four, grandfather. he was a great guy. >> white leaves behind four sons and a widow. an investigation is now under way. project managers say 1100 construction workers were sent home following the accident. construction of a $1.3 billion stadium is expected to resume on thursday. >> on to more sports news. derrick norris homered and drove in four runs and bartolo colon pitched six scoreless innings to lead the athletics a 6-4 victory over the new york yankees last night. cocoa crisp led off the game for oakland with a homer off cc sabathia before norris and colon to go to leave the a's to their eighth win in 11 games spirit sabathial allowed six runs and eight hits in six innings in his homecoming start and from many fans that came from his hometown of nearby

they have bill schiller on stage. it will have what he calls all-day battery life. book, macbook air goes from five hours of battery life to nine. 13-inn going to from nine to 12 hours. he is talking waiting to speak. we'll waiting to hear what kind of price tag the new generation will v we heard earlier from ceo tim cook at the keynote. at beginning came out rapid fire with a lot of numbers. talking paying 5 billion to appear developers over the past year. 900,000 apps are available right now. 50 billiondown loads have been made so far on the apple app store. went on to talk about the mack insaul base. -- mack install base. growth has doubled for macs while pretty stagnant from pcs at 18%. pcs have the lion's share of large numbers. third biggest segment for apple in terms of revenue. they spent time talking about the new operating system, lori. calling as mavericks as california native that is hip surfing desnation off the coast of california. lori: you like the new setup on the west coast? fitting right in. >> absolutely. you're welcome. adam: approaching 2:00. d

guests include bob schiller and they will join us tomorrow.pe you'll give me that time. >> tremont. there is no way on god's green earth that any society or in any democracy will ever abolish the tax collection in system there is no political support and it will never ever going to happen. >> a man can dream and one senator is proposing to do that. >> also senator cruz but i think it is a great argument for the flat tax. we have throw that out there and it is never addressed. >> hope you are right but i don't think it will. that is it for me. cheryl: we will see you tomorrow. dennis: we will talk with the irs target on the very prospect. from the tea party news network will have the idea to abolish the network announced talks every 15 minutes, the market is going wild with fear. and now we will kick off. >> glove at the market under pressure and that is an understatement. down 200 points and of the earlier lows of the day day, however you can see all the major averages are losing more than one full percentage point*. with nearly two percentage

kay schiller, that is an index. it's their own thing.profit from that. >> i'm sake it's something we need to lock at. there are lots of service, you are absolutely right. what they do, a lot of them try to come up with that same number. exact same number an release it. they're releasing it sort of metadata. all the data comes through to a super computer. it gets traded upon. i'm not saying that's necessarily bad. we shouldn't blindly accept it. maybe there won't be any mohr floor traders. maybe that is okay. we shouldn't not question, not look around the skoern and say this is where we want markets going, there is no fundamental thought in two swhaekdz is happening in market? i think you are taking ap an a larger issue with this news coming out. we will have more from bart in the hour. >>> coming up, portfolios, cheat thats. >> there's like cougars, you thought 579 0r8 cheetahs. >> i was thinking of the tripp tips, owl over your hand. watch playboy channel. we want to talk global stocks with mark yokyey from the international fund. but t

not the stage presence that say a phil schiller might have or one in charge of a lot of the softwarering. i would be surprised if johnny ive spends much or any time on stage today. i would expect to see phil shiller as usually. tim cook always spends time up there as well. we'll see if there's anybody else who takes more of a prominent role. perhaps kevin lynch. but he's so recent it might be too soon for him to take on much of a visible role. guys? >> john fortt. a long day, buddy. thank you very much. we'll see you soon. i'm a big apple user. i have noticed i've got a lot of problems with apple products i've never had. a year ago it started with icloud, delays, i couldn't sync up the ipad. i don't know if they're losing a step. >> an important pillar for apple. originally and over time it helped people make the switch. they got frustrated with pcs, with the service, they went to anal and it worked like a dream. fit not working like a dream, it's a problem. >> it's a relative statement. my pcs here are causing a huge amount of problem. for more than the apple products. >> true. >> b

>> well, we mentioned phil schiller earlier in the week using a word that is not tv-friendly at the appleoper's conference and maybe things have changed. >> maybe it is time to revise what can be said. what can't be said. >> that is probably -- >> because people are saying it. >> people are saying it. >> and jamie has always been passionate, and -- >> candid. >> yes.lets it fly. >> i am learning a lot. i have never spoken these words, david. >> those virgin ears. >> and i have never been angry and always a man of peace. >> meantime, a new development in the world of natural gas. spectrum energy says it is moving the u.s. nat gases over to the llcs and cramer broke the news on "mad money" last night. >> what is new in the pipeline? >> we have just decided at the end of the year we can put all of the pipelines and the storage in the united states into the mlp, and it is one of the largest mlps in the united states and about a billion enterprise and with a billion of opportunities ahead -- >> bingo, 10% on the stock. all you need the to do is to break the news and wave the magic wand. but wi