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KPIX CBS 5 Eyewitness News At 5PM June 29, 2011



rain when it s not supposed to rain. when i got up, i said i think the world s coming to an end. it s not supposed to be raining in june. i spent 30 years here in california, grew up in ohio. this is ohio weather. it s weird. what we re looking forward to is after today, this kind of freak weather we re having, we are supposed to get mid-90s so perfect timing for the upcoming 4th of july holiday. reporter: water parks are great in the heat or as they will tell you here, great in the rain, too. and you know those guys at fisherman s wharf that sell the tourists the sweatshirts because they didn t pack them because they thought it would be hot? they are selling umbrellas today, too. mike sugerman, cbs 5. i m sure they are doing very well. thank you, mike. we continue our stormwatch coverage with roberta. is this rain goes to ease up? it s already beginning to ease ups across the bay area, but then again it depends where you are. but we have had quite an accumu ....

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KPIX CBS 5 Eyewitness News At 6PM June 29, 2011



market, have also stabilized slightly. what i m hoping will happen is that we will see a gradual stabilization of prices and won t see a return to a belief that housing prices can only go up. reporter: this economist hopes the bay area will lead a slow stabilization nationwide but is not getting his hopes too high. cities like chicago and las vegas are still posting declining home values and gruen says their economic health will depend on how the nation responds to higher home values. overall i m optimistic but i don t think we should expect or allow historic policies to simply repeat themselves. reporter: the report does not take into consideration the fact that the market is usually a little more active during spring and summer. in fact, an s&p spokesman said it s too early to tell if this is an actual turning point. it could be just a blip in the process. kind of like the summer weather that we had today. just a blip in our summer. reporter: that s right. ....

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