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tv   Making Money With Charles Payne  FOX Business  October 26, 2021 2:00pm-2:22pm EDT

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almost everybody who would take him on. lauren: to underline that, tesla is worth more, over a trillion dollars, the nine biggest automakers market cap, but they sell 2% cars worldwide because they do so much other stuff. next for you, keith. senator joe manchin is open to a tax that targets billionaires as a way to pay for the massive spending bill of the white house. listen. >> i'm open to any type of thing that makes people pay that is not paying now. people that don't report income like you and i do, earned income, there has to be a way to pay their fair share. lauren: elon musk is slamming that proposal. he is warning eventually they run out of other people's money, then they come for you. keith, the fear is, if you go after wealth to raise revenue, fine, you start with the billionaires. then you go to everybody else and this becomes how they raise money. would you make that argument? would you side with elon musk here? >> yes, i do see side with elon
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musk here. the problem with this, right? confiscatory move. it is one idea to say okay, on principle we'll go affair share. where does it start? where does it stop? what many americans don't realize who are anxiously jumping on bandwagon, global threshhold of 1%, talking about as low as $24,000 a year with the global population. play the game, play it worldwide. otherwise sit and think how this is going to impact the very people it is going to hurt most. lauren: jason chaffetz on stuart varney's show earlier, we played that same joe manchin sound bite and jason said i think manchin put a qualifier in that sound bite and that was earned income. so taxing wages, for instance. it wasn't unearned income, dividends, real estate, pensions. we don't know how broad this tax is going to be. we'll find out tonight, keith, the senate finance chair, senator ron wyden, he says they
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will get details tonight. they will release what the corporate minimum tax rate is and what exactly is in this proposal for taxing unrealized capital gains. keith, thank you very much. >> my pleasure. >> sales and prices exploding in september, blowing estimates out of the water. what does that mean for a housing market that has yet to cool off? and investing star cathie wood tries to predict the future with her etfs. now she is trying to predict inflation. he h -- she thinks twitter ceo jack dorsey is dead wrong about his recent call. we'll discuss. ♪
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lauren: it is not just homes but vacation homes that are red hot. madison alworth is in high-end naples, florida, where some people are buying mansions to double as their office. madison, how much are they spending? >> well, on average homes in naples are going for between one and two million dollars. those buyers they want space. that is why we're seeing increase in interest on the west
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coast of florida compared to the east coast, miami, fort lauderdale. here not only get more space but pay lower property taxes compared to the other coast of florida. this is not the only area seeing a bump in the second homes. across the u.s. we're seeing interest increase in people buying that second home. in fact redfin estimates that the demand for second home has increased by 60% since january 2020. otherwise known as the start of the pandemic. when it comes to maples, people are looking at this area in particular because they like the outdoors space. they like the proximity to the beach, opportunity to enjoy outdoor activities. this house right here is located on a golf course but if you want to snatch it up for $5.9 million, you don't even have to leave the house. you can practice the short game right here which i am going to do. we'll see if i need this house to practice. oh, my god, so close. practice a little more throughout the day. whoever does end up snatching a home like this, lauren, whether first or second home what we're
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seeing in this area, realtors telling me it will be the second property for someone, they have the opportunity to be a little better at golf than me. lauren: does it have an office? does it have an home office or two, or people working out of that home? >> right now it is for sale. no one is occupied of this home. lauren: i wonder if it has a great office set-up for something. i was being facetious about it. madison, thank you. i hope you have time to work on your putting over there. real estate expert katrina campins. i'm not better at golf. in fact i'm much worse. new home sales numbers. look at month of september, they were up 14% and prices surged to new highs as well, topping $400,000, on average. i mean, at what point, if ever, does price kill demand? >> you know, during the pandemic i really knew that housing was going to -- [inaudible] what we're experiencing now is
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very different than what we experienced years ago. people have a lot of equity in their homes. as you were mentioning in the last segment. people want their home offices now. they want space to do homeschooling. so the home became critical -- [inaudible]. people reevaluated the importance of life in general. people are ready to live now more than ever. which has really put a lot of focus on the homes. so people are not only buying primary homes but buying secondary homes. why you're seeing the prices continue to rise. there is it still a lack of supply. because of the supply chain issues. lauren: yeah. >> those are people down not housing market a lot of builders want to build but [inaudible] lauren: speaking of lack of supply, single people who are looking to buy a home, to become a homeowner, they're being met with supply at a five decade low. what is the issue there? >> you know, entry level homes
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are very, very few and far between in this market. and the luxury home market is experiencing more inventory. the minute something affordable comes on the market, you have bidding wars. you still don't have the level of frenzy you had during the prime months of covid but you still have that level of anxiety where people want to get into the homes. let's not forget that rent prices have skyrocketed. it is more expensive right now to rent than it is to buy. i had a friend of mine last night sent me a message. why is it so more expensive to rent than it is to buy? i'm looking to purchase in this market. one thing important that we should know, the fed made commentary that they will raise interest rates. people ask me, do i wait for prices to come down? but then interest rates are going to be up. kind of like a catch 22 because you're paying more for a home or interest rates will be higher.
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so you should buy when you're ready to buy. the housing market i think will slow down but i don't think that we're going to see -- [inaudible]. some drastic -- [inaudible]. lauren: you know what? katrina, i was asking that same question when i bought my house i think six years ago at this point. you know. so we're having essentially the same discussion except prices have gone way up. thank you for joining us. good to see you. we do have a programing note. don't forget to tune into fox business prime tonight. all new episodes of "american dream home" and "mansion global." starts at 8:00 p.m. eastern time. coming up microsoft and google reporting earnings after the closing bell today. should you own either before their calls? we have a couple of market pros that might have the answer you want to hear.
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lauren: ark investors ceo cathy wood taking on twitter founder jack dorsey and his tweet, his prediction that the world is feeling and starting to feel the pain of hyperinflation. she tweeted her theory that we'll see deflation caused by things including a breakdown in commodities and companies that fail to innovate. two completely different points of view. we want to ask, who has the last
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laugh? we go to kim forest and dan aha aha -- mahoney. >> i was a software engineer before i came into the world of finance, and i know the power that software can provide to companies to make it more productive. and i think that's how she sees the world and how i see the world. i think it is in the long term deflationary because we can do more with less if we use technology well. lauren: but, kim, her timeline seemed to be after christmas, after the holidays you'll see that i'm right. do you think inflation goes away after the holidays? so many companies warning that a persistence to the second half of 2022. >> i hear that, and i kind of agree with her because if you look at how quickly lumber fell in price when supply and demand came back into balance, perhaps a lot of the things out there in
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the world once the shipping lanes become open and things begin to flow around the world again, a lot of categories should fall. and, again, because of supply and demand. so i'm not really often on the side of cathy all that much, but we're in step here. lauren: we have twitter after the bell today, microsoft, google parent alphabet, robinhood, ken, which names do you like? >> well, the pick of the litter has to be microsoft. i mean, sometimes we come in hot into earnings. we came whipping into earnings. september was not a pretty picture. microsoft remember last quarter, they beat expectations, they rised guidance, oh, a $6 -- raised guidance, oh, a $60 billion buyback. it's kind of russian are roulette, but no doubt microsoft is the place to be, killing it
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with web hosting, they're killing it in k box and, again, i wouldn't -- xbox, and again, i definitely expect a very strong quarter and strong guidance. lauren: yeah, but the stock's at a record high, ken. do you buy now ahead of the earnings? you think they're not going to be affected by chip shortages, people are still going to buy their surface laptops and xbox? i mean, you're still bullish on a stock that's run up so much? >> yeah, so, look, we definitely had a news reaction, no doubt. again, i don't like jumping in in front of earnings, it's kind of russian roulette. and microsoft could definitely sell the news, but all the other ones like twitter haven't found a way to monetize themself. robinhood, around how many accounts they can open. but it you had to play one of them, i would say microsoft. it's had such a runup. lauren: kim, which names do you like out of those reporting momentarily? >> sure. well, again, i agree with you
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that maybe to wait for a pullback in these names, but they're some good names. the two that jump out, again, microsoft because of the business-oriented software. and if then google because they do have a great core business this whole selling ad which is just printing money, right? it is at the top of, or near the top of its price ever in the history of google. lauren: yeah. and then you have twitter. i think the expectation is 211 million active users, but, you know with, how do they monetize those users: and what happens, ken, when next year you see trump social? >> so, yeah, twitter's really kind of shot themselves with all this, knocking down accounts, purging accounts. you really don't like it, and they really haven't found a way to monetize. facebook certainly has. you can go in there and say i'm a demographic, i'm going to run this ad. twitter really haven't got that,
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and i don't know where it is with that. i think it comes with leadership. dorsey's split between square and this company. again, his ideology's a little off, as far as i'm concerned, so again, i'm not a big twitter fan at all. again, there's more competition for other, you know, thoughts and actually post it without getting taken down. that would be a nice thing to do. lauren: kim, all in what do you expect? earnings are supporting the stock market rise that we continue to see and should see. i mean, for lack of a better word, it's a float if-up, a melt-up -- float-up, a melt-up. what's the next catalyst if not earnings for the stock market? >> well, i think right now it really is earning, earnings, earnings. and then the beginning of december for better or worse we have another governmental cliff to climb, right, or to fall off of, whichever direction you think it's going.
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we have to get that settled. and i think that could give us some turbulence. the names might go on sale, and that's' what i really like to do, pick up gems because people are afraid. lauren: ken, i'll let you wrap it up for us. >> i think start watching the vix for clues. i mean, july, august, low vix, market's climbing high e. in september, vix rises, and then september sells off. and what happens here in october? the vix imploded. it was a precursor to the -- lauren: and october so far despite it being a scary month if historically. ken, kim, thank you. liz claman, over to you. >> thank you. liz: yeah, we've got confidence back. these numbers on the ticker below us, consumer confidence up for the first time in four months as pandemic fears, at least some of them, begin to ease. that and booming earnings have
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the dow poised within this hour for its third straight record close. the s&p looking at its second all-time high in a row. that would be the 57th of 2021. and by the way, nasdaq's no slouch, a 37-point gain right now. a new catalyst for -- could


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