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i m alex witt. welcome to msnbc saturday. bp says crews are now pumping cement to permanently seal the blownout well at the bottom of the gulf of mexico. it spilled 256 million gallons of oil into the ocean killing 11 workers. kristen dahlgren is live in venice, louisiana, with a good saturday morning to you. when are the crews expected to be finished with the permanent seal so it is a done deal? reporter: hey, good morning, alex. well, it is likely based on the timeline we have been given, at this point they would be waiting for it to cure, but bp has said it does expect later today to make the announcement that the well is permanently killed meaning it will never leak oil into the gulf of mexico again. we are talking about that relief well that they started drilling shortly after the disaster began. they drilled down about 2 1/2 miles beneath the floor of the gulf and intersected the well that had been leaking and they michigan to pump in the cement. that s the fina ....
the biggest one-month drop on record. that drop was double what analysts expected. joining me now ron ensana. any hope these numbers can improve? normally summertime is a time when we see people moving and getting relocated before the kids head back to school. this is really discouraging. we have record-low interest rates, mortgage rates and the housing affordability at its highest since the early 19 60s. the problem is not the cost of credit, it s the availability of credit and homes have plunged because lenders have tightened standards at the behest of the fdic and the federal housing administration and we have also seen some things happen that are disturbing. the expiration of that home buyer tax credit was the tipping point at which these home sales have fallen off a cliff in the last couple months. so, that was helpful for stimulating the sales. so what can be done now? do we have to see that again? to put it in a rather, in the vernacular, it couldn t hurt. ....