right now is the housing market and that, of course, is because of the spike in mortgage rates. we learned today that existing home sales dropped sharply in november to the weakest pace since the spring of 2020, which is pretty incredible because that s when the real estate market was basically brought to a standstill by covid. but, kate, if there is a silver lining here for home buyers it s that home prices continue to cool off. it does increasingly feel like this housing market has shifted from a buyer s market, from a seller s market to a buyer s market and that, of course, is a welcome shift for home buyers. good to see you, matt. we have this just in before we go, the disgraced founder of cryptocurrency company ftx has agreed to be extradited to the united states. a lawyer for sam bankman-fried made that announcement in a courtroom in the bahamas earlier this hour but there s this thing is a mess. over to kara scannell. we need clarity on this because this has gone from mess
looking to buy another home? i m telling them they can really negotiate right now, they are in the driver s seat, it is a buyer s market, we re in a bear market and i think they can negotiate really well and they have a lot to choose from. there s ample supply in certain areas. so they should look at this as an opportunity market for them. and sellers, the big news is they have to bring prices down so buyers feel like they can negotiate and work and get a deal done. so there s still a lot of opportunity out there, it is not the end of the world. if people are buying a home, should they assume that they re going to be able to refinance in a few years or they shouldn t make that assumption? i wish i had the answer to that. i hope they can. nobody knows. we hope that rates don t tick up to the double digits like they did 30 years ago, 40 years ago, but i m hoping after a year or so we hope that the rates will
implanted in passengers on flights bound for the u.s. the other story, may day protests around the country and the world. here in the united states the occupy movement is behind the demonstrations. in other countries hunl crowds taking to the streets to mark international workers day. we ll have live reports from here and overseas. one year ago an elite team raided a compound in pakistan, killed the most wanted man in the world, osama bin laden. today on the anniversary of bid laden s raid we re learning about possible new threats including the use of bombs implanted inside the bodies of terrorists. susan candiotti is following the story for us. explain to us what this is about. steps are being taken to guard against a new threat involving body bombs possibly planted inside passengers on flights headed for the u.s. this is according to a u.s. government official with knowledge of the threat. however, a spokesman for the department of homeland security adds that dhs has no
went bankrupt. opposition activists said 62,000 people were killed in the country. this video posted on youtube appears to show members of the free syrian army in the back of a pickup truck engaged in a heavy gun fight with government forces in homs. cnn cannot independently confirm the authenticity of this video. special ensloi, kofi annan, called for an immediate end to the violence. he warned against external military intervention. iran s ambassador said his country is ready to re-engage with the nuclear watchdog agency. his comment comes as western powers say they are ready to resume talks on iran s nuclear program without preconditions, but the ambassador says iran will never give up its nuclear program. those are the headlines from cnn. i m juanita rajpal. world business today starts right now. good morning. from cnn london, i m charles hodson. and a very good afternoon from cnn hong kong. i m andrew stevens. welcome to world business today. the top stories
become victims of the violence they were covering there on the ground in syria. just hours before her death, american-born journalist marie colvin told anderson cooper just last night, quote, the syrian army is shelling the city of cold, stavrving civilians, end quote. colvin and remi ochik were killed in the shelling there. he was just 28 years old. he was a veteran war correspondent with the new york times for more than two decades. i have cnn s ivan watson and jim clancy joining me. ivan, i want to begin with you in istanbul. i ll get to you, jim, i know you definitely knew marie very well. ivan, you met her a few times. you were also just recently in syria, days ago in syria. what did you see? tell me about the shelling. i was in a different part of the country that wasn t being pummelled the way that the city of homs is under such fierce bombardment. we were hearing periodic clashes and hearing heavy arms, and there were periodic bombardments of villages in the area.