Keep our economy going,. Lori nobody is going to disagree with you. The jobs report was encouraging but a lot of the economists forecast the number will be reined in once the sequester cuts go into effect, the big to do in new york city today, is the federal judge, overturning soda ban, insteaded by mayor bloomberg, everyone shaking their head on this one, you know, mayors of saying they will appeal this but enough. I know the judge probably was right on the law, but i sympathize with the lawyer in his attempts obesity is a big problem, if you want freedom to do this i say, sign a waiver saying you will not make a claim to public dollars for your health problem. Lori i got to run. History will determine, thank you, the ateam, that is lou dobbs tonight, coming up tomorrow, greggua wall don. Thank you for joining us, good night to you. Neil i have been to ground zero, let me be first to report the housing recovery is real if washington stays out of the way. Welcome i am neil cavuto, just back from florida. I saw it for myself, home of the meltdown is looking up, florida, is looking sunny again. Or sunnier. I spin better part of last couple days seeing what a heard of realtors i respect and i trust reporting, they are no longer freefalling, there is a different, for florida, and the country, that given could be profound. Prices are up across state. Particularly miami, palm beach arena. Now, let me be clear. Double digit percentage jumps. Some are depressed levels is not what i would call a boom, and once hot properties are still well off 2006 highs, by any laymans definition, constitutes something closer to a bust, true, but all changing, and fast. You know what i discovered, the realtors biggest worries going into the Housing Market spring and summer buying season, there . Not that there is not enough buyers, they are panicking because there will not be enough sellers, the buyers are up buthe homes are not for sale, but not as many for the demand, not just in florida. This is playing out across the nation, much is predictable, many owners in florida like elsewhere are underwater, they need to see value of their homes exceed what they owe on those homes. That is moving owners way but not fast enough to satisfy a lot of owners of those homes or rabid realtors who want to list the home, for now it is a florida catch 22, but a predicament most would rather have than not have, i heard large highrise condominium projects are resumes again in miami, and reports that lenders of the Sunshine State are seeming to take on a more sunny disposition to lens, period, and reports that builders are breaking more ground on projects long delay, not only in florida but nation, something has to be changing, so, my amateur predict circumstance at least, worse in housing crises is over, if washington just stays out of the way, to let financial nature take its course. No more mortgage reworks, no more fixes that produce bigger fixes, no more punishing bankers for aggressive loans done largely at the behest of the government that 1 demanded lend or die, let this thing grow down there in florida. Let the market to do its thing in florida. Because it is ink baiting, it congress and white house it just stay the hell out, similar come back for the rest of the country could be in the offing. Or, am i just off . To some top real estate experts, florida uber realtor katrina campage joining us as her strong new york counterpart, dotty her man, how do you define it. Everyone that you said is on point. Our biggest concern now as Real Estate Professionals is we dont have enough inventory, i state that people think were out of our mind, you know difference this time is 1980s most demand was coming from south america, now you have demand from south america but also so many other continents, there is a influx of international buyers, you have a lot of people coming from the north. And they are no longer just snow birds, they are spending a lot of time here in florida, florida as a whole getting strong as a market. If this continues it is slated to be Third Largest state in the nation. Neil problem is that, sellers are not pelting their properties out there maybe for variety of reasons, it is creating a weird conundrum where demand is there but supply is not. Demand is across the country, i came back from san francisco, with biggest ceo of real estate, there is not a market that doesnt have that has enough inventory,. Neil the problem . It is a lot of things, it is pentup demand, a lot of people have not done things for a lot of years, itself their equity starts to come back they can move, they pretty much know it is bottom. So they figure, you know, already reached bottom we can make a move. Neil sellers are they just waiting it out, if it has reached value . They think that Interest Rates might go up, you know, we have low Interest Rates,. Neil that is already happening, katrina, what is it going to take, i cant believe im saying this sellers to start selling, they are the only part of the equation that is not coming in. You know what is interesting most of our buyers are cash right now. Neil you are at highend too. Highend their cash but not everyone is like that . I am, and to get sellers to sell, they are going to have to pay them top dollar we would have never thought it would occur inned. Flood at this point, it has become such a destination for that international buyer, the amount of buyers that i have right now in the side line waiting for that Perfect Property is frustrating, i cant locate that right home for them because of lack of inventory, if i were a earlier right now, now it time to get top dollar for your property, but overall, as you said, the inventory around the nation, is very low, and west coast you see the same thing. Neil you know, dotty, what im not seeing is next logical leap, bidding wars on properties. That would be next logical step, right . Were seeing it and it is across the country, it is happening. I told people. Neil why are prices still by and large, well off the worse levels still low . Well, they have come back, it they have come back from something that could be up 20 , depending on where it fell. Neil if you are a perspective buyer would you not want to be in that party, why are you holding back. They are not, the ones that move and request move are doing it. You mentioned there is a lack of supply. Because there is a lot. Neil why are know more sellers coming out. It has a lot to do with the unemployment. Insecurity that people have about the next hike up, you know, to move up, a level you have to bey is cure you will abable to make that job, people that are savvy, highend, they are all doing it, they also know if they have extra cash, 3 , i mean it is not returning anything, in the 0 middle. That is a hard jump to make with so many uncertainties. Neil katrina, i mentioned my concern this government would try to get involved. I think with best of intentions, but to little avail, people try to keep in their homes get thrown out. Because the rework program does not work, my best advice, for government to stay out and let the market do its thing, it will be more efficient, it will be better, it will not put an artificial veil over this, what do you say. I agree with you 100 , for last 2 or 3 years weve been discussing the bandaid fix issues, we need to let paper take its course. And another component are develop ores that are coming back into the market this time they are coming back smarter, so many of them that suffered during bust, are now building more inventory, that will be great for south florida but they are doing is wiser now, they are not letting people come in buying 5 to 10 properties, with speculation they will flip them. So that is another component in our favor in florida, i agree, i think that government needs to stay out and let supply and demand dictate the market. You are right. Were seeing developers all over, across board, taking bigger down payments in new york they would never allow a person to buy 10 or 14 properties and not live there, we didnt that have problem, but it back 92 well see. You know, weather was perfect. Go way thank you. What if i told you, this could go boom depending on something government, the actions of a guy named ben. Then, chance just prove, 48yearold light heavyweight boxing chip chp of the world, Bernard Hopkins is here. Age is not a enemy to me. The clock is not something im trying to stop. It still goes forward. Neil there is a wild card in this housing ament. Ben could throw cold water on it, mr. Easy money, say some say that cheap money weve gotten used to for years backfires to ben bernanke and company, unlike anything weve witnessed in years. They could what happens when the fed has to slightly ease off. Look. What happens every time ben or any of his colleagues hint of doing so the markets tank, the latest bull run was largely fueled after ben made clear he was not going to do that any time soon, but things already getting long in theeing too, what happen in the tooth, what happens when buying slows . Then what, to katie and michael and david on whether were all punched when they take the punch bowl away. I think we are, looking at way that Federal Reserve handled the economy we pumped trillions of dollars in the economy. Ivanov seen longterm Wealth Development from that or long teacher growth Development Long term growth development, what happens when they collect a Record Number of taxes there is no longer enough money to keep pumps into the economy, and market see him maybe pullback just a little bit, and we see markets tank. There was a time, we saw record highs of market come days apart i think weve been seeing is people trying to get their last good moment in before maybe the Federal Reserve backs off a little bit. You dont see them backing off dramatically any time soon, michael . Even an amoeba that has had multiple concussions understands. Federal reserve cares nothing about inflation. They care about preventing deflation. They want to create inflation first and foremost, that is spilling over into the equity market, they levitated a consumption bubble, they send transfer payments out almost no cost, they will withdraw liquidity, i say in 2014 benghazi said ben bernanke saids well do 40 billion a month. Neil but, inflation is already here . It is, how can anybody say that inflation is not here . Inflation is most pernicious in the bond market. What are we doing with a twoyear, treasury note, they have amassed 7 trillion of new debt since Great Recession bebegan, why would we have day 2 yield on a treasury note. The n2 money supply is up 7 yearoveryear, that is definition. Neil seizes disaster. Something to keep in mine there is so much money in the world, we get focused on the fed, there are those chinese savers, countries with big account surpluses. Neil you wouldnt want to hang your hot that would. You in general, we live in a world of cheap money. Neil maybe owing to my years we remember inflationnary spikes that recent phenomenon has been an exception not the rule, i am worried that we return to the rule i remember, and hyper inflation, something that once it appears, is very hard to put back in the bottle. Were talking about inflation on your show, but weve not heart a lot about it in other places, weve seen this idea that fed was to fix things we wanted fast and cheap money at the beginning to fix the problem. And a couple trillion dollars later were in the same position. Neil does that mean you are worried or not. I would be worried. I think wall street shows from a daytoday basis that they operate on a daytoday basis. Neil they are not showing it yet . Michael. Have your viewers put up a chart of copper, where it was a decade ago, and oil, 20 a barrel, for decade after decade, if Federal Reserve in early 2,000 take oil from 20 a barrel to 2147, and lets to 147, and let its sit at 90 to is not inflation. Neil it is here. It is here. We need to deleverage, commodities need to be lowered. Inflation is not a big worry right now. Where it is that money going . It would be nice to see prices of main things go up, such as homes. I think weve seen the prices of a lot of things go up, gas is one of them. Neil i hope that guy on left is right. Well take a break here. Later on we get you back, but, now it is a joke, president making light of sequestration at a fancy washington dinner. If i were there, and i was invited, i dont know that would make me vomit more, president joking about sequestration or whether he was doing this a few weeks ago. The greater the damage to our economy. This is a slow grind that will intensify with each passing day. So lets break down this play. Charles . Uh, charles couldnt make it. His single miles car blacked him out here and here. He should have used. The capital one venture card. Hes coming to us from home. Hey fellas. Hey baby, you want mama to iron your undies . Nice tightie whities. I didnt know mrs. Barkley made quilts. Really . Looks like a circus tent. Is that the best you got . Now if you put this, with this, you have a sailboat. Whats in your wallet . You have a sailboat. Today is gonna be an important day for us. You ready . We wanna be our brothers keeper. Whats number two we wanna do . Bring it up to 90 decatherms. How bout ya, joe . Lets go ahead and bring it online. Attention on site, attention on site. Now starting unit nine. Some of the worlds cleanest gas turbines are now powering some of americas biggest cities. Siemens. Answers. Hey, buddy . Oh, hey, flo. You want to see something cool . Snapshot, from progressive. My Insurance Company told me not to talk to people like you. You always do what they tell you . No. Try it, and see what your good driving can save you. You dont even have to switch. Unless youre scared. Im not scared, its. You know we can still see you. No, you cant. Pretty sure we can. Try snapshot today no pressure. Neil okay, now its funny, president making light of sequestration cuts he once called catastrophic just a week earlier. Even kidding about sequestration cuts with lines like, my joke writers have been placed on furlough, there is one thing in washington that did not get cut, the lidge of this dinner length of this dinner, more proof that the sequester makes no sense, remember the anything but funny warnings from same guy about the same sequestration. Of which no good become at all. Longer the cuts remain in place, [ laughter ] , the greater the damage to our economy [ laughter ] , a slow ground that will intensify with each passing day [ laughter ] neil a latch trac laugh track u didnt know it. We did it to make a point, the president not so humorous 180 on it we could remember, a few weeks back, hell was coming, now it is a joke line. This is their new strategy, they realize they have become a punch line, they are laughing it off like no big deal, but they are trying to make the cuts as painful as possible, that is what white house cans consolidation of cancelling the tours is about, making it at painful for the public as possible. And National Park service has been told to make it painful as possible to public. They hope that in time, people will realize, well Obama Administration was right for making this a big deal. Becauses cuts were very painful. So that is what it is blaugh about it now, but make it painful for the public. Neil you joke about it right now, and in this weird juxtaposition. Under your watcher, so, normally you could take a quick bow, and credit for that, but he cant because, that is acknowledging things are looking up or, that the sequestration cuts were not the hell that people thought they would be, joke on him . Right. And i think a lot of people are upset how he handled the sequestration, he made it out to be a huge deal, there was no long lines at the airport, our food is not contaminated, people are upset about a sense of entitlement among government employees, the public has been suffering through a horrible economy for years won. Job cuts and layoffs then it touched Public Employees 37 it s, then it was y2k all over, and world was going to end, the americans were upset, they have been suffering through the realities of the economy for years now. Neil you can get a reputation you know for fear mongering too much, the American People might then say, he is whining about stuff again, and the next washington dinner he will joke about it afterwards, we see a pattern were not getting snukerred. Right, he is doing is he is under mining his presidency by, making it out to be this huge deal, it not happening, so he is trying to back off now, and make it seem like, well, i wasnt exaggerating it was not as bad as it was going to be. Neil one of these days you will have to be afraid of something, i can threat en my kids all i want it falls on deaf ears if i keep on doing, one of those times if you swallow it, it really will poison you, but to gets old after a while. You see the google map images, they are cool, what if i told you that when the photographer was snapping he was spying, if you find that offensive. Wait until you hear how much google was fined for doing this. Neil i spy something sickening, google gets caught in capturing wifi information while snapping pictures, they were fineds there are sensfine 7 million. About the same it makes in an hour. I was shocked not only by the behavior but the punishment for the behavior. What is going to stop it . People saying no all google products, and instruction that google intrusion that google does, with the point, or tablet or new computer, google comes at you saying we want to track you on your phone, and tablet, and this service, and free email service, these services are not free. Or cheap, the cost is that google takes your data, doing what it wants with it. Including sharing it with federal government. You are the soap when you use google service, and they sell that data and they make money from it that 7 million is a pittance. Neil why were they fined so little . The legal issue is touchy because the laws are lagging. The people who have their data taken in an unauthorized way could sue google for damages. It goes back to attorney generals of the state, they are political candidates, and they have to raise money, and work in a political situation, and google yeah, you know, i didnt understand in this case, is, i understand the convenience of google maps, remember when apple it its own map program, and everyone said no, we want google. This was going on, as if people weigh this at home, and say, i know there is aarisk they will snoop on me, but their maps are so great, that is the trade off, how did you dispel peoples notion that there need not be a trade off for new technolo