and shocking news from british police. they have been given new information about the death of princess diana, the latest on what we know coming up at 3:0 eastern time. from the american dream to america s reality. millions still feel like they are missing out on the recovery. so when will it be their turn? christine romans has answers. your money starts now. the american dream, happiness and prosperity. a house, a great job, maybe a couple of kids and time to enjoy it all. the great recession is behind us, but the recovery isn t so great. i m christine romans and this is your money. first, housing. goldman sachs says all cash deals are half the market right now. wealthy investors, buyers from china, canada, south america, pumping up recent housing data. average americans may be getting priced out. in the second quarter, when you look at this, more than two-thirds of all the homes sold in the u.s. were affordable.
it s more evidence of a strong housing recovery. home prices jumped in may. prices up around 20% in the past year. 20%, wolf in san francisco, louisiala los angeles, las vegas. it s a good time to be selling a price. should you be buying a house, there s not a lot of supply. some zip codes support bidding wars. it s a good time to buy. yes, buy now. what does this mean for people? it s at a historical low. that s affordable. prices as you point ee eed mults are recogniising. there s a high number of all cash deals. a lot of overseas investors swooping up real estate in this
off the market is through foreign investors. foreign investors today represent 70% of the deals that are being done. out of that 70%, 90% are cash deals. they are solid. we are not talking about mortgages. reporter: as you can see behind me this building began construction in the earl ay 2000s before the crash and now they are finishing the rest of the 35 stories. back to you. reporting live from miami this morning. checking our top stories at 20 minutes past the hour. in alaska three people are feared dead after a state trooperer helicopter crashed. the pilot had just rescued a snow mobiler. another aircraft spotted the burned wreckage but did not spot any survivors. the man who won last week s jackpot could see his luck run
sector and areas that are growing and looking to bring people on, in addition to having things like tax cuts and tax breaks for corporations hiring, what about apprenticeship programs and bringing a pipeline? a lot of private sectors would be interested in hearing that. that is a good thing. you get tax cuts and they get mountains of profits. you train people, they will hire them. you have it right. we see what happens with the cash disparity. look at the mergers and the acquisitions that happened over the past two weeks alone. they are cash deals. they are not stock deals. companies are flush with cash. here, they are hiring abroad because our workers aren t competitive now. we have to train them, put them to work where there s a growing world economy.
price, suzanne? i m a little confused, alison, because given the recession, with a lot of people hit pretty hard. how can they afford to pay with cash? because the housing market has been hit hard, home prices are low, and that s easier to pay with all cash. people don t have to save up as much as they normally would. also we re finding that appraisals are weak these days and banks only finance what a home is appraised for, so instead of going out and getting the financing, do you know what, we ll pay all cash. also cash speeds the deal up. it s easier to negotiate. and, you know, people don t want to deal with the mortgage approval process a lot of times. you have to put your life out there on paperwork. and also what is also moving the cash deals, suzanne, it s becoming a big investment choice again, many buyers are actually investors buying big blocks of home all at once, just plunking down all their cash, suzanne? alison, thank you very much. want to straight to live pictur