Baby boomers are staying in their home sweet homes, and this weeks cover store diana olick finds demand has limited s reporter baby boomer Lorraine Goldberg loves her fivebedroom suburban maryland home, loved raising her two sons here. They had shows, they had it was wonderful. Reporter and still loves throwing pool parties in her luxurious backyard. My friends come over, yes. Reporter but now she admits my neighborhood, by myself. I really dont belong in. Reporter her kids are grown and gone and she and her husband divorced. After nearly 40 years here, she would like to downsize to something more urban, but its actually less expensive to stay here in metro than move into the city. I dont know what to do. I keep calling realtors and drivin so i just stay here. Reporter realtor brook hiberger said she sees it all the time. Baby boomers are really struggling with the decision to yo downsize becau theres not great options to downsize to. Currently the trend is to live in urban centers. They want to be close to restaurants and shops. They want to have easy access to public transportation. But because the demand to live in these areas is so high, its just become very cost prohibitive for them. Reporter baby boomers simply arent moving. At least not at the rate previous generations did when they hit this age. By staying in their big houses longer, they are causing a crucial logjam in the supply line. Those in smaller homes cant upsize, so they p putting more pressure at the entry level where millennial demand is only increasing. All that demand with so little supply just pushes home pric. Baby boomers own almost 3. 6 million extra bedrooms according to trulia, a real estate website. Goldberg has four of them. She continues to look for a new place, but she also visits her new grandchild on the west coast, leaving her big house empty for weeks at a the nations Home Builders are focusing in on active adult communities to meet all that baby boomer demand, but those tend to be farther outside the cities, not exactly where boomers want to be. Kelly . This hits close to home. Diana, now that at um is here, do you think that means the sale of homes could improve or could it get even worse . Reporter actually, the fall is usually when we see more supply, after the summer doldrums. Sellers say we want to get back into the market. Unfortunately were not seeing that now. And that is continuing to push prices even higher. Eye opening stuff. Diana, thank you very much. Diana olick. The inventory of houses for sale is at its lowest point in four years, according to zillow. The chief economist joins us now with more reaction. Thank you for being here. Thank you for having me. How much of a housing shortage is baby boomers fault . Baby boomers have to live somewhere. But its right that they are having a hard time downsizing and finding that available inventory. And so its tough for people to actually move into their homes. And that is causing that disruption in the normal moveup market. So whats the solution . What can be done to fix this problem . Well, you know, what it comes down to is we have two very large generations, kind of butting heads where you have millennials that are entering the market that are even larger of a generation than the baby boomers. You really just need more homes. Were currently dealing with 1994 level inventories, despite having 63 million more people so at this point, we have to build some more homes in order to accommodate all those people. I wonder, too, when we looked in new jersey, theres nowhere else to build. Is it harder in northeast markets like that that are already so dense theres nothing to do to increase supply . What about out west . I think it really comes down to coastal markets that oftentimes are restricted by, you know, being on the coast where you have water and you cant expand anymore. I think the bay area is seeing the same problem, seattle is having this problem as well where its hard to expand and we need to make the decision to probably build denser and build up to accommodate more people in a smaller amount of space. Whats keeping builders we mentioned perhaps area constraints, what else might be keeping them from building more of these properties . I think a lot of builders will tell you theyre having a hard time meeting the price point right now, given how expensive labor, lumber and simply regulation costs are. When it comes down to, you know, making the profits work on their end, theyre going to build a home thats slightly too expensive for the entry level market. And when they do build entry level, oftentimes its further out where near not seeing as much demand. If this continues, does that mean that home prices keep going higher and higher . What about Interest Rates . You know, i think with efor the time being, we will continue to see the price pressures. We will i dont think well see a meaningful increase in the inventory anytime soon, which means prices will continue to be on the rise. Once Mortgage Rates do rise, although i dont think theyll rise significantly anytime soon, well start to see a little bit of a damping sect but not enough to really make up for these problems that were having right now. Thank you thank you. Now heres a look at whas making news. As expected, the Federal Reserve left Interest Rates steady at its meeting this week, though it did leave the door open for an additional hike this year and three more next year. Janet yellen said it would start reducing its balance sheet. When the economy was in dire straits they bought bonds. The fed will eventually reduce the assets by 50 billion every quarter. Stocks had little reaction to the fed news. And were flat on wednesday after the dow and s p 500 set records earlier in the week. And stocks were mixed later in the week. After the holiday season, it will cost more to ship via fedex. The company will be raising rates an average of close to 5 and there will be additional fees and surcharges on large packages. If you want to return something you bought on amazon, you dont even have to ask alexa about it. Kohls will offer amazon returns next month. Theyll ship the items for free. If you pick up a pair of socks or shirts, kohls wouldnt mind that at all. Our cameras were allowed. Here cameras have n and later, the billionaires who dig the deepest to help other. Well tell you who tops the charity list and whos at the bottom. And how the stock market when you look at the mercedesbenz glc. With its hightech cameras and radar, contemporary cockpit, three hundred and sixty Degree Network of driverassist technologies, and sporty performance. Whats most impressive about the glc . All depends on your point of view. Lease the glc300 for 479 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. Their leadership is instinctive. Theyre experts in things you havent heard of researchers of technologies that one day, you will. Some call them the best of the best. Some call them veterans. We call them our team. You each drive a ford all yes. Ght . Im going to show you a next generation pickup. Awesome. Lets do this. The bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Stronger the better. And best of all, this new truck is actually all laughing oh my. The current chevy silverado. Current chevy owners and lessees get a total value of tenthousand, six hundred dollars. Or, 0 financing for 72 months on this silverado all star. Find new roads at your local chevy dealer. Its a familiar Airport Security routine. Shoes off, hands up for the xray, and, of course, long lines. But thats just what you see. What you dont see is just as important. An on the money exclusive, the second busiest airport, Los Angeles International. Morgan brennan are in parts of the airport that cameras have never been, and heres what she found. Reporter were behind security, inside hidden passageways at Los Angeles International airport. Where the public isnt allowed. A multiagency Police Operation is focusing on the people who work at the ai. To find anyone deemed an insider. When we work this detail, we have zero tolerance. Reporter zero tolerance means something small could turn into something big. When you look around the terminal, what do you see . Opportunists preying on the travelers. Some kind of criminal element, something that sticks out that needs to be looked at a little bit more. Reporter it all starts at 9 00 a. M. At Aviation Police this is the only task force of its kind that does an operation like. At any major airport. Reporter teams of officers prepare to head out. Captain Tyrone Stallings tells us theres a clear game plan. What do you expect to see today . Well, we usually want to see a show of force, uniforms, high visibility in a certain specific area, and also, we want to address the Insider Threat. Reporter the operation has we see highly visible officers armed with rifles, as we ride up the escalator in the international terminal. It doesnt take long for something to happen. Were on our way. Reporter as we navigate elevators and restricted passages, we eventually wind up on the airfield. Police are questioning this ramp worker. Pulled over after a random i. D. Check. It turns out the employee has an active warrant for a pending dui hes going to be arrested. Likely lose his job. How real is the Insider Threat . I think that its probably one of our top concerns. And we bring that to the stakeholders, Airline Security managers, and theyre all aware. I think it goes hand in hand with some of the criminal activity that you may see at airports that we Pay Attention to. Reporter even what appeared to be potential lowlevel threats are routinely monitored. Our cameras captured this in the international terminal. Look at the knives that are currently outstanding right now. Reporter in the kitchen, the knives are all where they should be. A process that takes only a few great. Looks like all the knives are all accounted for. Reporter officers sean foley said every single restaurant employee is trained about properly keeping track of cutlery. Its a very important process. Reporter experts say the tsa has done a good job of securing aircraft above the wing. A process that will certainly continue. But its those Insider Threats, people that have access to cargo holds or airport terminals that are becoming a bigger and bigger focus of law officials. For on the money, im morgan brennan. Laxs Security Budget is more than 200 million through mostly airport fees. Hey now, remember these vans . Theyre making a comeback. But with a modern twist. Well tell you about that. And then later, changing oil and a stereotype. What powers the digital world. Communication. Thats why a cutting Edge University counts on centurylink what powers the digital world. Communication. Thats why a cutting Edge University counts on centurylink to keep their local ca why the Football Team chose us to enable broadband to more than 65,0 and why a leading car brand counts on us to keep their Dealer Network streamlined and nimble. Businesses count on communication, and communication counts on centurylink. Your link to wha. If you grew up in the 60s or 70s, the volkswagen bus captured the spirit of those days. Now its coming back. Vw plans to roll out a new allelectric van in the next and our phil lebeau got a preview of what it will look like. Reporter its a blast from the past, planned for the future. Volkswagens buzz is an electric van hitting the street in 2022. This car is, for us, a rebirth of a great heritage. But it will also carry into the future the mobility with all the electrification and the sensors which will make the car fully connected and autonomous. Reporter volkswagen may pack the latest technology into the buzz, but they hope it will carry the spirit of the microbus, a reminder of when volkswagen was cool. These days, volkswagen image is far the passat or jetta are fine, many were diesel models caught up in the rigged emissions scandal. Vws image and sales in the u. S. Have taken a a fact the company readily admits while trying to turn the page. Its a brand which has a base here. Everyone knows the microbus, or the beetle from the old days. We made many mistakes here, but now we try to make it right from the start. Reporter sales are still down from 2015 when the Diesel Scandal erupted and for a brief time the company was prevented from selling certain models. Now volkswagen is hoping to regain customers by rolling out a slew of new vehicles. Many with electric for on the money, im phil lebeau. When the electric mini bus comes out in a few years, her owner may want to have it checked out at a girls auto she now runs workshops, shes the author of girls auto clinic glove box guide, which im already this has got me going. Theres so much good s i like how you said you were an auto air head. You quit a sixfigure job at a company. I was an engineer. What was that like . I worked with great people. I made great money. But i was always looking forward to friday. I didnt feel like i was mak and so i know that i took a look at my life. I was an auto air head. I waited until the last minute to do repairs on my car. I always felt like i needed a guy to help me and that i was always taken advantage of. I was looking for resources online to help me. I couldnt find them. I decided im going to go back to school, learn how to be a mechanic and create girls auto clinic. What sets you apart, from the male ones. We hire all female mechanics. So were staffed by females. We have a nail salon at the shop so you can get your hair and nails done while youre waiting for your car. Really, we cater to women. Im not an automotive company. Do you just have the one location . Im in philly right now. I would love to expand. I have women all over the country saying, when are you coming to houston, when are you coming to chicago . I wrote this book to kind of be able to reach as many women as possible. Not just with our services, but we offer a lot of resources so they can be educated with our cars. Why do you think there are still so few women who are auto mechanics . Its just the stereotypes in our culture for men. Im an engineer and i was an auto air head and i didnt think i was going to understand it. We subscribe to those stereotypes, women and men do. It will take a lot of representation, women and men seeing girls working on cars, seeing girls selling cars for them to believe that something that women can do, and do very well. I hav of car questions to ask. Yeah. Im an auto air head. What are the three most important things anyone should do to take care of their car . You definitely want to be changing your oil promptly. That is the most important thing you can do for your car. Stick to your oil change intervals. Know your tire pressure thats supposed to go in your tires, the proper operating pressure. It should be 33 psi. If you take care of your tires, rotating them, proper air pressure and do the alignment, theyll last 50,000 miles. What should you know in buying or leasing a car . Understand your driving and saving habits. Do you beat up a car . Do you save money to set aside for repairs . Do you have a pst, your primary care technn or your mechanic . If youre not good at taking care of your car and saving money, you do not want to get the bmw, you may want to get a toyota or aftermarket warranty. People just think about cost of the car for insurance upfront, but what is it going to cost to maintain it and can i afford it. Theres lots more. Good information in the book. Yes. Thank you so much for joining us. Thank you for having me, kelly. Up next on the money, the news on the week ahead and the benevolent billionaires. Find out how much the richest in america are really giving to charity, offer not. Or not. I invented the foldomatic 5000. My metris also holds over 2,500 pounds of payload. Hauling 2,500 pounds in my small van is no problem. I just divide and conquer. Hauls more, stows more, tows more and fits in your garage. The midsize metris from mercedesbenz. Vans. Born to run. Juswho own them,ople every business is different. But every one of those businesses will need legal help as they age and grow. Whether it be help starting your business, vendor contracts or employment agreements. Legalzooms network of attorneys can help you every step of the way so you can focus on what you do. Well handle the legal stuff that comes up along the way. Legalzoom. Legal help is here. Now, here are the stories coming up that may impact your money this week. On tuesday we get a real on real estate, which tracks home prices in 20 markets around the country. Well also see how many new homes are sold in the month of august. On wednesday the durable goods report for the month of august is also released. And another indicator of the economy comes thursday when a final report for the second quarters gdp comes out. Coffee lovers take note, friday is National Coffee day. Make sure to check your coffee shop for any brewing. As the saying goes, Charity Begins at home. But that hasnt stopped the ten richest americans from donating more than 70 billion over the last 17 years. Robert frank joins us to reveal who gave and how much. Robert . Kelly, this was the chronicle of philanthropy. They created a generosity index where they looked at how much the top ten billionaires gave since the year 2000 as a ratio of their wealth. The number one on the list, i thought, we all thought would have been bill gates. But in fact, Warren Buffett was number one giving away over 70 of his wealth. 46 billion of that sort of 65 billion, 66 billion fortune t hes the guy who came to charity a little late in life, but hes by far the number one on the list. In a way that doesnt surprise me. We know hes a big philanthropist. What were some of the surprises throughoutanalysis . Bill gates came in number two. One of the sort of quirks of this is they dated it to the year 2000. So bill and linda gates gave a lot of money to their foundation when they created it in the 1990s, so that money doesnt count. They contributed about 18 million to bill and melinda gates, actually more than twice that. 20 of his fortune. The other big surpri is Michael Bloomberg was number three. We dont hear a lot about kind of