and robert schiller himself. first i want to be your assessment for housing.or the most part, we've had a string of housing disappointments. your report notwithstanding is there something going on with respect to a new paradigm. is it no longer the american dream to have the house and the picket fence. >> well, i think it's still the american dream. (?) but it's not as strong as it once was. we have a lot of young people staying with their parents longer. their saddled with student debt. and i think they just -- the whole coloration of owning a home after this financial crisis just doesn't seem so exciting. charles: i know. but it also feels like the kids want to go to the city. they want to work at a high-tech firm. they want to be where the action is. next door to the hot bars. it feels like there was a different set of thinking as opposed to 22-year-old in 1950. >> it used to be you had people over your home more. now, you get on to social media. it doesn't matter where you live anymore. it's how you connect. yeah, it's a new world. but i still think people

schiller says housing prices are about where they should be and doesn't expect them to rise much moreates have gone up quickly. last week we saw one of the slowest weeks for new mortgage applications because of those higher rates. >> we knew a correction had to happen at some point. hopefully that window hasn't closed completely for home buyers. >> they're going to stop gaining, he says. that's fair. >> and not too quickly as well. thank you. >>> final check of the day's top stories for you. san francisco police have made an arrest following a stabbing inside walgreens near union square. no word on the victim's condition. >>> nearly a dozen vehicles including two tractors and a forklift were damaged in an overnight fire at a vineyard in napa county. nobody was hurt, but the cause of that fire is still under investigation. >>> today, pitchers and catchers headed to arizona to kick offspring training. they'll hold their first workout tomorrow. position players report to scottsdale next week. talking about the san francisco giants. >> talking about baseball. talking about hope springing

he will have howard schiller.und breaking new study that could prevent kids from developing peanut allergies. fat from fiction carry-on luggage. here is the consumer gauge with the numbers that mean the most to you. stay with us. ♪ gerri: well, you probably know peanut allergies can be deadly. especially for young children. but a new study suggesting what we know about peanut allergies might be wrong. it claims early exposure to peanut products may be the key it ensuring kids don't develop allergies. clifford works at the asthma care center. welcome back to the show dr. cliff. why the change of heart? what was in this study that was so convincing? >> this is a breaking pivotal study done in england on over 600 children. these children were at high risk for allergic. theyallergies. they have ex-ma. when they gave peanut at the first year of life, they found a 95% reduction in the incidence to peanut allergy. if you have a high allergy risk, guidelines have said to avoid it. now we're thinking maybe a complete turn

the s&p case schiller index showed property values rose 4.5% through december.gest gainer, right here in san francisco, home prices rising 9.3% year-over-year. second after that is miami. bloomberg west will be right back. ♪ cory: i'm cory johnson and this is "bloomberg west." ebay still dominates in online auction, but increasingly specialty marketplaces like etsy are using special technology to authenticate items and it's getting to be a big business. recently, my guest was asked to describe how the niche market works. >> primarily secondhand, preowned jewelry and watches. we authenticate and best price everything will item, leveraging our system on the site as well as the pricing engine to price these items in real-time. 80% of the folks are there do not know the prices of the jewelry and watches they own right now and are only getting $.10 to $.15 back when they go to sell them. cory: where are they typically selling them right now? >> they either sell them off-line at the jewelry stores or they are trying to sell it on ebay. the problem there is, most of th

the case schiller index rose 4.5%. the biggest gainer is right here.ncisco's home prices grew by 9% and second that was miami. "bloomberg wes" will be right back. -- "bloomberg west" will be right back. ♪ cory: i'm cory johnson this is "bloomberg west." ebay still dominates the marketplace online but businesses like etsy are focusing on specific businesses. they're using special technology to authenticate items and it's getting to be a big business. i sat down with the ceo and cofounder and started by asking to describe how the niche e-commerce market works. >> primarily, secondhand jewelry and watches. we authenticate every item leveraging our system which leverages through photo recognition on the site and the pricing engine that takes data factors to price these items in real time. 80% of the folks out there don't know the prices of the jewelry and watches that they own and are only getting $.15 back on them and they seldom. cory: where are people selling them question mark >> the usually go to traditional jewelry stores or they try to sell them on

the s&p case schiller index showed property values rose 4.5% through december.gest gainer, right here in sanford, home prices rising 9.3% year-over-year. second after that is miami. mark crumpton is coming up at the bottom of the hour -- at the top of the hour. mark: the company whose sales outlook weekend says it is unable to raise prices in much of the united states. what is keeping potential new home buyers on the sidelines? and how will the housing market uneven recovery impact the company's bottom line? the company's ceo, doug yearlyey will join me in a few minutes. cory: "bloomberg west" will be right back. ♪ cory: i'm cory johnson and this is "bloomberg west." ebay still dominates in online auction, but increasingly specialty marketplaces like scetsy are using special technology to authenticate items and it's getting to be a big business. recently, my guest was asked to describe how the niche market works. >> we authenticate and best price everything will item leveraging our system on the site as well as the pricing engine to price these items in real-tim

watch the show every night, start investing, a portfolio tomorrow, i have robert schiller, latest onhe market, right now lou dobbs, keep it height rea right here ox business. lou: good evening, i am lou dobbs, obama administration spending last week trying to convince american people that the president is determineed to deal with radical islamist terrorists with sensitivity and diversity training, insisting on emthese with our enemy, only a weekend later obama white house is trying to scare americans about implications for national security if congress does not pass a bill that fully funds department of homeland security by midnight friday. >> unless congress acts, one week from now more than 100,000 vhs employees, border control,

watch the show every night start investing a portfolio tomorrow i have robert schiller latest on housing and the market, right now lou dobbs keep it height rear right here on fox business. lou: good evening, i am lou dobbs, obama administration spending last week trying to convince american people that the president is determineed to deal with radical islamist terrorists with sensitivity and diversity training, insisting on emthese with our enemy only a weekend later obama white house is trying to scare americans about implications for national security if congress does not pass a bill that fully funds department of homeland security by midnight friday. >> unless congress acts, one week from now more than 100,000 vhs employees border control inspectors tsa agents will show up to work without getting paid. they all work in your states, these are folks who if they don't have a pay chick will not be -- paycheck will not be able to spend that money in your states. will have a direct impact on america's national security. lou: critics say this is the president's amnesty fiat for illegal immig

citizens, including the woman who lived in schiller park illinois.r arrest shocking neighbors. >> it makes you sort of feel less safe. as we all know we got to go out and kind of be ourselves and not really try to let it bother us. knowing it's a few doors down from your own kind of makes you wonder. >> reporter: the six bosnian immigrants are accused of supporting their point person a bosnian native and u.s. citizen, who left st. louis, missouri, in may, 2013, to join terrorists in bosnia herzegovina, and ultimately syria. now if convicted, she faces up to 30 years in prison. eric? >> thanks so much. >>> nigeria is postponing next week's presidential election to fight boko haram. they and four neighbors announce they will deploy 9,000 troops to northeastern nigeria where boko haram has unleashed a reign of terror since 2009. kidnapping, murdering and driving roughly 1.5 million people from their homes. they have also begun launching attacks in camaroon and niger which are both in the new five nation coalition. nigeria's election now expected to take

but according to the latest kay schiller index, prices in the bay area still outpacing the rest of thep 20 markets were flat in december from the month before while the bay area was up 4/10ths of a percent stronger than the gain in november. over the past 12 months prices in the bay area up 9.3%. that's more than doubling the u.s. average in those top 20 cities. 6 of the top 20 markets posted declines from the month before and that included san diego and las vegas. home improvement gardening appeared to be on a lot of lists. home depot had a big 4th quarter. it's revenue was up. overall the market quiet. janet yellen testifying today and tomorrow. investors will be looking for clues when interest rates will rise some thinking it will summer in possibly june. let's check the big board so far. dow up by 21 points. nasdaq falling by 5. the s&p right now is flat. frank and michelle, back to you. >> we're both moving to san diego. you in? >> it's a beautiful place to go and visit that's for sure. >> i know. i guess a little cheaper, too. thank you, jason brooks from kcbs news. >>> a battle

i'm at a hotel in schiller park. >> meanwhile in a room across the hall, female undercovers post fake ads for sex on back page and lure johns to the hotel. >> are you going to come visit me. >> what time are you looking at? okay, i charge $90, frank, for a sul service for one hour, is that okay with you. >> he is calling for a date tonight, wants to know if i do greek, a common term for anal sex. >> i'm in the o'hare area. >> okay, can't wait to see you. >> female undercovers make cochran contact with an eager john. >> right now, he's going to be here in two minutes. >> meanwhile, a male in the room across the hall also has a subject on the way. >> you are not the police. that's why i'm going to give you my number. i don't want a bunch of dudes kicking down my door. >> thet team scrambles for two simultaneous takedowns. >> feast or famine, we'll have nothing, make the phone calls, put the ads on and in the space of a half hour we have five guys show up. it's critical we get them out of here immediately. >> the arresting officers in the next room eyeballing the john's approach in the h

. >> robert schiller said look at the periphery.eece and portugal and even think about russia. >> not me. >> but you love distress. >> there is political risk that you can analyze. -- can't analyze. maybe there are some that can make that analysis but that is not what we do. we look at assets in cash flow. >> you spend a lot of time working on investing in lehman. >> a long time. last year, late in the fourth quarter, there were some big sellers in lehman. based on our models, we were able to purchase some of the double-digit ir's. >> why would people sell? >> i don't know. >> you have to know. >> i really don't. >> you are willing to sit on that paper. >> they're making distributions every april and october. it's a question of we put capital today, we get capital back in october. however long it takes to get our money -- as long as that is in the double digits, we are happy. >> what is the next big distress situation? there is not another lehman. let's go lehman ballpark neighborhood. >> that is difficult. the environment was looki

. >>> economic jail and bob schiller joins us with reaction from the housing start and producer indexes businessy we're going to find out as "squawk box" continues right now. ♪ >> announcer: live from the most powerful city in the world, new york. this is "squawk box." >>> welcome back to "squawk box" here on cnbc. first in business world, i'm becky quick along with andrew ross sorkin and brian sullivan. we're less than 90 minutes away from the opening bell on wall street. we've been watching the futures this morning and it's a little unclear where the future is headed. dow futures down by 15 pat 5 point. sapp off by 2, nasdaq down by 1. let's look at the markets in europe right now, you'll see right now, at least in france the cac is up 0.8%. ftse is relatively flat. in greece 1.7%. >>> mortgage applications plunging more than 17% in latest week. this as rates rose to the high efl levels. and global levels greece likely to ask for an extension on the jury row zone. oil prices falling no catalyst here other than analysts saying that it's overblown the inventory data later today. brian

the case schiller home index is out and 0.87% gain. >> before we get to get that, the european finance have approved the extension of the greek bailout program in their conference call today according to an official involved in the discussions. when it comes to effect or impact on financial markets, this was widely expected. we are not seeing much movement here. janet yellen will begin speaking later this morning. onto the economic data released. home pricing for the month of december showed prices in 20 u.s. cities moved for .5% -- moved 4.5%. this was a slight increase of the 4.3% increase in movement in november. miami with a .4% increase. -- with an 8.4% increase. on a month over month basis prices in the 20 u.s. cities increased 9/10 of 1%. and pick up that we saw in the previous month which was a tense of 1%. this is slightly better than what economists had anticipated. betty: scarlet fu there, thank you. the euro area finance ministers have approved the greek extension. futures indicate stock will be mixed at the open. one factor is oil prices timing for a second straight day. w

robert schiller said it's a good time to be buying in greece and portugal. are you looking at that?k at the periphery, places like an and ireland that have really undertaken structural reform. the big message this year, they are getting benefits from lower energy prices and lower interest rates. that will get them into this cyclical downturn. but structurally they are still john because of microeconomics because of labor rules and regulations that are absurd and it discourage people from hiring and firing and investing. spain is at least taking a step. italy is talking about it, but has not passed it. and france does not want to talk about it. richard: it very well said. you have 19 members of the euro but not all of them have gotten religion on this. and in italy in france they are still talking about it over coffee. tom: it's good copy, though. olivia: i could use and copyright now. our twitter question of the day can there bps with prudent? -- with can there bps with putin? david, i know you are not in russia now. what would you have to's to see to get into the russian market? da

charles payne talking to robert schiller at 6:00 p.m. eastern on the fox business network tonight.ed your kids peanuts you don't want to give them an allergy. there is evidence that the opposite may be true. dr. mark siegel is in. today an introduction, what they are saying is if you feed kids peanuts you will reduce the severity of the allergy later in life if they get allergy at all. is that right? >> absolutely and this is a great study that comes from researchers at your country of origin, the other side of the pond. it feeds into something called the hy gene theory. we are deliberately keeping our kids away from the-what they are exposed to. every time we do that we risk an allergic response. the immune system goes haywire when it doesn't see something and the theory is everybody is so afraid of peanut allergies the we are not allowed the american academy of pediatrics, since the year 2000 we have not been able to give kids the not so they are almost 3 years old, from the american academy of pediatrics, that is the recommendation but this study shows if we expose them to a lit