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Home prices up 4.6% in august from a year ago. the largest year-over-year gain in six years. august marked the sixth consecutive month home prices rose in the united states. let's go to cnbc's jeff cutmore, live in london. >> good morning. you know how the saying goes, if there's a wealth effect in the housing market you get the trickle down. that's what we're talking about in this segment. we've seen this number coming out of core logic. they are suggesting a sharp rebound in home prices. it looks good on paper but let's not forget there's still more than one in five american home owners unde...

berman. >> nice to have you. i'm zoraida sambolin. up first, the shooting rampage in tucson, arizona, takes a dramatic step this morning. jared lee loughner now facing a lifetime in prison after pleading guilty to a shooting that killed six people and almost killed a former member of congress, gabrielle giffords. under the plea deal loughner will be sentenced to life in prison with no parole but will avoid the death penalty. the u.s. attorney prosecuting the case says loughner's mental state was a big factor in this decision. >> the doctors who have treated and observed mr. loughner ...

for wednesday, december 7th. from the time warner center in new york, i'm carol costello. here are this morning's top stories. a new accuser saying former penn state coach jerry sandusky sexually assaulted him when he was just 12 and gave him booze. these demonstrators attempting to take back the capital. they're staging sit-ins in front of congressional offices and camping out on the national mall. it's decision day for seniors. it's the last time you can change your medicare part "d" prescription drug plan. let's get a check of today's weather. rob marciano with a seat in atl...

Fascinating article about just who it is that seems to be doing the strategic defaulting. from the data we have it appears that affluent homeowners are the ones most likely to pursue this strategy. quote, more than one in seven homeowners with loans in excess of a million dollars are seriously delinquent according to data compiled to the "new york times" by the real estate analytics firm core logic. about 1 in 12 mortgages blow the million dollar mark is delinquent. okay. at the same time that rich people are making use of the impeccable economic logic of strategic default the federal governme...

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