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Let me read you a key line from the chief economist, he said, quote, we're witnessing a housing recession in terms of declining home sales and home building, however, it is not a recession in terms of home prices. let me show you what we mean. the median price of an existing home sold in july at $404,000, that's up 11% year over year, 12 straight months of year over year price gains, but prices are cooling off. month over month, prices actually dipped a bit. we just have to remember, though, that demand for homes remains very strong. supply is weak. a lot is going to depend on what happens wit...

Top of a brand new hour. it is good to be with you. i'm victor blackwell. >> and i'm alisyn camerota. the u.s. begins 2022 with a winter blizzard and a viral blizzard. more than 20 million americans are under weather alerts from the southeast to new england. this is the region's first major snowstorm of the season. in the meantime, the omicron variant has driven the average new infections to a record breaking 404,000 a day. >> hospitalizations are rising at a slower rate, but we are now learning that there are 100,000 people in the u.s. in hospitals with covid. this double hit has led to major...

Are nr under winter weather alerts from the southeast to new england, it is the region's first major snowstorm of the season and the year. >> at the same time, the omicron variant has driven the seven-day average of new covid infections to a record-breaking 404,000 aday. and this is news that so many parents have been waiting for, the fda just authorized the pfizer booster for kids ages 12 to 15. and it shortened the time for how long to wait before getting a booster. cnn's alexandria field takes us through the latest developments. >> if you look at the upstrict, it is a vertical increase. >> ...

And now for people who are thinking about refinancing or buying a new home, the mortgage rate has gone up. as of yesterday it was 3.22. this is the highest it's been in two years, right? >> yes, it is. and this really hits hard at first time home buyers. the proportion of first time home buyers, the overall market is really way down there. only about a quarter of the buyers of homes today are first-time buyers. that's very unusual. simply put, they have been priced out of the market. the median price of a sold home at the end of last year was $404,000. that's about 20% higher than it was at th...

Honduras and el salvador and guatemala, you've got rio grande valley your city most 404,000 from del rio is close to 215 thousand. tucson arizona, nearly 174,000, san diego is close to one 30,000 according to u.s. customs and border patrol in rio grande city, your city, almost 39000 more migrants and i want to know if you feel your people very much in charge of, you feel they are considering leaving as this grows and expands? how you deal with -- how do you brace for additional possibly 60000 haitians migrants heading for the border? >> we have a good working relationship with cbp. the officer...