breakfast. and then what do you do, who's to going to walk him? that's the question at my house, who's walking the dog. so who's walking the deer? [laughter] maria: michael lee. >> when the deer gets in the house, i imagine you don't want its mom or tad to see you with it in the house because, like, who knows? all i know is that, like, deers will absolutely destroy your car, so if you see them on the road, i can only imagine what would happen in your kitchen. maria: all right. we are about an hour away from the opening bell, the dow industrials down 25, the nasdaq is positive, extending that major record showing yesterday, up another 6.5. s&p 500 right now lower by 1 point. i want to thank you, michael lee and michael balboni, have a great weekend, and we will see you soon. have a great weekend, everybody. i'll see you tonight on "wall street," 7 p.m. eastern. stu, take it away. stuart: good morning, everyone. you might call this a target-rich environment, lots to

go at. record highs for stocks, and trump leads in seven swing states. but we're going to start with president biden at the border. two issues collided. the migrant surge and the president's mental and physical condition. he blamed republicans for the border breakdown, but he looked frail, didn't know where to stand and used cue cards written for him so he knew what to say. he called the migrants newcomers. trump went to the much more active border section. he said it was overrun by biden migrant crime, end quote, and he revealed he'd spoken to the parents of the student in georgia murdered allegedly by a venezuelan my grant. and there's a new poll, it shows how much trouble the president's in. trump leads him by an average of 5 points in 7 key swing states and 80% think biden is too old for a second term. to the markets. the s&p and the nasdaq closed at record highs thursday. no serious pullback so far this friday morning. the dow may be down 27 points,

there you go, s&p may be down a fraction, nasdaq up .50 points, okay in not much of a pullback. elon musk sues openai and sam altman. musk says they abandoned the founding mission of the company. instead of saving humanity, muttsing says now they're all about -- mix says they're all about profit and he doesn't like it. this could, repeat could, upset microsoft's openai deal. we have the 10-year right around the 4.25% level, 4.27. the 2-year at 4.63w right now. and bitcoin, holding pretty strong the, $62,400 right now. gas up 2 cents, $3.33 for regular. diesel, no change, $4.06. on the show today, squad members ilhan omar and pramila jayapal make a secret visit to cuba. why would members of congress make a secret visit to a communist dictatorship? if i don't know, but it's an

embarrassment for democrats and biden. and who pays $9,000 for a pair of trump the sneakers? either the buyer loves trump or he sees a good investment or both. the buyer is on the show. friday, march 1st, 2024. three weeks til spring. "varney & company" is about to begin. ♪ ♪ ♪ stuart: what's this song? lost in the moon? lauren: can't help you. stuart: could have some relevance to biden and the border, get that? it's friday morning, and there you have sixth avenue. not much action. here's something that could shake things up in the world of artificial intelligence. elon musk is suing opena a i and sam altman for abandoning the founding mission of the company.

morning, lauren. take me through this. it might be kind of complicated. lauren: you have to remember that elon musk cofounded openai in 2015. the team wanted to develop artificial intelligence for the benefit of humanity, right? it was not -- a not for profit. he left the board in 2018, and now the company through its for-profit arm, a hybrid, it gets billions of dollars from microsoft and makes a killing on chatgpt, right in so in this suit elon musk alleges that the focus on making money breach withs the original contract. stuart: okay. so if they unravel what was going on all those years ago -- lauren: you change the structure of openai -- stuart: right, and that could affect microsoft which bought into it for $13 billion. that could happen down the road but nothing on it so far today, is that accurate? lauren: that seems accurate to me. and i also see the system taking a moral stance, if you will, on the direction of openai, the direction of artificial intelligence. stuart: got it. let's look at the markets overall on friday morning.

we've got some red ink but not much, dow down 30, nasdaq up all of 2 points. kenny polcari joins me. look, we've seen a huge tech rally. what -- where's the end point? what stops the surge, kenny? >> i'm not necessarily sure, stuart, that anything stops the tech surge because the truth, and we've been talking about it, this whole a.i. thing is really in its infancy. i think it's got plenty of room to go. now, will the total market pull back a little bit? i don't think you're going to see the tech names completely collapse. they'll pull back and continue to surge again. so what's it going to be? i think we're coming into the end of the quarter here. i think it feels toppy, the market. i think you're starting to see a broadening out of the rally. money is coming out of some of these tech that names, but it's not coming out in a panic mode. so i don't expect hem to really fall if out of bed, and i do expect the surge to continue. stuart: it all depends if on profits, doesn't it? big tech is producing the kind of profit that every company

would love to register, and they're the only game in town when you've got really huge profit games. so that's why they either stay at high levels or move a bit higher. are you with me on this? >> that's right. and, listen, yes, to your point, that's true. but again, i do expect they pull back a little bit, but i don't expect they're going to fall out of bed just because of the amount of money these companies earn on a quarterly basis. it's mind-boggling at some point. so, therefore, that is going to provide a floor under these names. stuart: what's your take on elon musk suing openai and sam altman? if. >> you know, i think it's very interesting. i have to read up on this story because this just came can out, so i haven't really read up on it, but i think it's very interesting now that he's taking this tack. i've got to learn more about it. i'm not necessarily sure it's going to go anywhere because, quite honestly, i think we've lost control of that whole a. i. thing anyway. i think the do good for humanity, i think that's out the one doe.. -- window.

do you think the rest are of the world is going to develop a.i. to do good for humanity? that's the scary part. i it's going to be interesting to see where the suit goes. stuart: and musk has an a.i. company which he's using to make tesla and his other companies more profitable. it's kind of a split decision here. he uses a.i. to make profit and then decries altman for making a profit out of a.i. it's kind of six of one, half a dozen of another. last word to you. >> well, it is, but i think he's using it to better his business, as are so many companies. he's afraid, or i think what the suit is going to say is that chatgpt could be used for other services or other ways, other means that won't benefit humanity, and i think that's his bottom line. stuart: okay. kenny, thanks very much is, indeed. quick word from you, you're throwing your arms up -- lauren: i was thinking -- you called me out. en on it, does that make elon musk a little bit of a hypocrite in this situation. stuart: you used the word.

lauren: i wasn't going to. body language. [laughter] stuart: at the top of the show we played lost in the wild, okay? that was the music we played. that's exactly how we look at the border. it wasn't a good look for them. i've got to say, he seemed frail and confused. if. lauren: it was his second ever, ever visit to the border. well, look at the video. he was literally escorted during this really slow shuffle as he made his way down the border. they walked for a couple minutes. there were no illegal crossings yesterday. here he is, he's accompanied by the border patrol chief, jason owens, and the success editor chief, that's gloria chavez. they literally told him what to do. >> anyway, it's amazing. it's amazing. >> thank you. sir, it's time for remarks, and our briefers, i invite you to our seat, and then we'll escort you this way. >> okay. >> thank you, sir. we'll now come over here with our friends from i.c.e., hsi.

>> good to see you, man. thank you. gotta stand on my mark. my mark's back here. [laughter] little, ands. aye got to be careful what i do here. lauren: this is just part of the way they have to handle him to get him to do what they need him to do. he used note cards while he was talking to them. he coughed at some points. he yawned at other times. i mean, you said it was frail and confused. i say completely disinterested. you had donald trump a couple hundred miles away saying this is dangerous. and biden, like, completely disinterested, being told to go here and there. stuart: he has to be told where to go. that's not good enough for the president of the united states. listen to this, new poll, more than 80% of voters believe biden is too old to serve a second term. karl rove with me right now. the same poll, karl, shows trump

leads biden in seven key swing states, arizona, georgia, michigan, nevada, north carolina, pennsylvania, wisconsin. isn't that a big hit for biden at a key point in the campaign? if. >> yeah. now, this is one poll, and we've got to be careful about that. there are the lots of polls that show the same thing which is three-quarters of the american people think he is too old, and two-thirds of the american people or better think that he lacks the mental stamina to do the job effectively in a second term. and yesterday was painful. not only that but, look, the white house optics are bad. think about last week. he's eating a gigantic ice cream cone in new york on tuesday wheo ask him about a things like the gaza ceasefire prospects. and then yesterday, you're absolutely right, you look at the entire border and the low erie yo grand valley, of the eight or nine sectors of the border is the fifth lowest. i mean, it's way down there.

dozens of people come across the border in that sector a day as opposed to hundreds in places like el paso and san diego. and thousands in the place where donald trump the was, the el paso finish the eagle pass/del rio sector and the tucson sector. so he was going to the quiet part of the border rather than where the problem actually is. so this was an attempt to get on the offense on immigration, and it was an utter, unmitigated disaster. stuart: over 100,000 the votes were cast for uncommitted in the michigan democrat primary. colorado has a campaign calling for uncommitted votes over biden washington state's largest labor union just endorsed uncommitted over biden. this is a huge problem for him, isn't it? how bad is it, do you think? >> yeah. well, it's bad. and, look, the uncommitted is, you know, like, 13% in michigan. this is endemic of a problem, buts it is not the problem itself. think about this, biden on the

ballot itself is getting pretty good numbers. south carolina, 96%. he got 64% as a write-in in new hampshire, he got 81% in michigan. here's the real problem, south carolina four years ago, 539,000 people voted in the democratic primary, this year 131,000. new hampshire, 298,000, this year 124,000. michigan, four years ago a, 1.6 million people voted, this year 768,000. stuart: it's bad. >> the numbers are not turning out. stuartout no, it's bad. karl, i'm terribly by or sorry, i'm out of time. thanks for bringing your white board. come back soon, karl rove. >> yes, sir. thank you. stuart: after years of denial, hunter biden finally acknowledged his dad joe was the big guy in a $5 million deal with with china. house judiciary chair jim jordan reacts to that next. ♪ ♪ never been afraid of any

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stuart: during his testimony, hunter biden revealed that joe biden was, in fact, the big guy in his $5 million china deal. chair of the house judicial committee, congressman jim jordan, joins me now if. jim, is that a real breakthrough? [laughter] >> he even hedged a little bit on that, stuart. he also said he couldn't remember if he ever took a laptop to a computer store in delaware. he said that there was no way that that what asapp message that -- whatsapp message, no, i didn't send that. and even if i did, my dad wasn't sitting beside me. i mean, the number of time it is he said something that was directly contradicted by other witnesses that we've already deposed and evidence we've already taken in was a big

number. in fact, maybe the biggest one was this call that devon archer testified last summer when they were in dubai with a board meeting with the folks on this ukrainian energy company, the ceo of the company asked hunter biden, devon archer, can you help relieve the pressure we are under, devon archer testified hunter biden then called d.c. and called his dad. hunter biden said, no, no, no, i didn't call d.c., no way did i do that. we've got those kinds of contradictory things, and that was the big takeaway. stuart: are we going to get public hearings which could be televised with hunter biden? >> yeah, we're looking to do that. i think chairman comer said that he wants to do that. so we're pursuing that and hopefully that will happen soon. next week we have another deposition where this democrat public relations firm that did work for burisma, this ukrainian energy company, we're talking to one with of those principal, and the following week we have robert hur, special counsel hur, who released the report on joe

biden's mishandling of classified documents. he comes in for a public hearing on may -- excuse me, march 12th. stuart: what you really want is the transcript and/or the tapes of hur's five hours of interviews with biden. because that shows -- >> exactly. stuart: -- one way or the other, is he in cognitive decline. >> yeah, no, that's why we've subpoenaed that information. robert hur said joe biden willfully, deliberately mishandled classified information over decades, his entire time in public office, then joe biden deliberately gave that information to the ghost writer who was writing his book. so that happened -- that's a violation of the law. but then robert hur said because he is an old man who can't remember, we're not going to charge him because we think he would play well in front of a jury. and the democrat say, oh, no, that's gratuitous, that's not accurate. let's see the information, hear the tapes, get the information. that's to why we subpoenaed it. we think the american people should be able to see for themselves and make that

decision. stauer stuart you're making progress here, but it's slow and steady and, to some degree, voters are turning off because they can't follow it. is that the case? >> well, there's -- relative to the impeachment inquiry, our job, first of all, is to do oversight. it's our constitutional duty. you do it in a systematic way, in a way consistent with the constitution, and that's what we've been doing. but with the impeachment inquiry specifically, i always say there are four facts or that are never going to change. hunt or biden got put on the board of this ukrainian energy company, got paid a million dollars a year. fact two, he wasn't qualified, and he said so himself. devon archer says there's a request from the energy company executives for them to weigh in and relieve the pressure being applied to that company, and fact four, joe biden goes to ukraine three days later and conditions the release of tax money on the firing of that very prosecutor. that all happened. no -- you can't change those fundamental facts. and hen there's a bunch of information around that that shows the selling of the brand,

the money, the business, the brand is what i like to -- how i like to describe it. and that's certainly what we've learned over these several months of looking into this. stuart: i think the robert hur tapes and/or transcripts would break things up open when it comes to the president's ability to do the job. jim jordan, thank you very much, indeed, sir. see you again soon, i hope. >> you got it. stuart start republicans just announced who is going to give the response to state of the union message. lauren: katie brit, she is 42 from alabama, the only mother in the senate with school-aged kids. if that's a contrast to joe biden. she can help paint the gop if as a party of hard working parents who believe in the three f ifs, faith, family and freedom, and obviously, this is her audition, if you will, for the very p position. stuart oh, you think so? lauren: i bet she gives the rebuttal from her kitchen table. stuart: that's interesting. good speculation. i'm curious how biden and trump

stack up when it comes to campaign cash. lauren: biden has a lot of problems, but money is not one of them. bloomberg reports the campaign has a $700 million, and he as $130 million in cash. on hand. as of january. record money to put towards messaging and advertising, especially in the wing states. look -- swing states. look, trump is certainly a good fund raise egg -- fund raiser, but his legal bills keep rising. in january we know the trump campaign spent more than it brought in. stuart: if biden is pushed aside is, does that $700 million go to the next candidate in line? lauren: gavin newsom? stuart: i don't know. lauren: i don't know the rules around it, what the groups say when, you know, they're signing everything over, but i would imagine a good chunk ofs it does. and i think gavin newsom has friends in high places. stuart: oh, he certainly does. cheng futures, see how we're going to close out the week. minor losses across the board but minor gains for the s&p and

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stuart: futures right before the opening bell on a pretty morning, mixed picture. dow down 40, nasdaq maybe up 5. mark mahaney is back with us this morning. why did you lower your target price for booking holdings from 3900 down to 3800? i thought travel was booming? >> i think travel is booming, but we did lower our estimate. so when our estimates come down, our price targets usually come down. there are three ways to play, at least that i look at, to play travel from a technology perspective, airbnb, booking and expedia. i think the most interesting assets of those three are booking and expedia, my preference is expedia because it's the cheapest of the three stocks, and i think the growth rates are converge ising. but they're all good free cash flow-generating stories that if you had a pullback, you'd want to be long all three. i think travel demands are intact for this summer. stuart: i guess i could say that airbnb is kind of a travel

company to some degree. you cut -- you raised the price target by just $4. 136 to 140. how did you arrive at a $4 hike in your target price? >> yeah. i think probably a little bit of a toggle up in estimate thes. if you look at the tape now, you'll see that's below where the stock is today, so it's not a -- on valuation we're not buyers of airbnb, we have downgraded the stock a little bit ago. we reduced the 25 free cash flow multiple to come up with that price target. stuart: essentially, you try to forecast future profits, and if the outlook is not so rosy, you knock it down -- it's all about profits in the future, isn't it? >> stu, that's my job, trying to figure out profits in the future and how much the market's going to pay for them. sometimes i get it right, hopefully -- hopefully most of the time, but it's impossible to get it right all of the time. stuart: you mentioned expedia. i know your target price is $190.

you like it. >> yes. yeah. so this is the cheapest of the three names. hey, you know, looking at this, the growth rates are the same. 30 times earnings though for airbnb, 20 times for booking and 10 or 12 times earnings for expedia. so if the growth rates are the same, i want to buy the cheapest asset. now, the reason that it's cheapest is that its execution over the last 3, 5, even 10 years hasn't been as good. i think there's a chance for that to change, you know, this year. and when you find those inflection points, it's when all of a sudden meta starts gaining cost religion, it's when uber starts generating profits, like when you get these changes in the theme, in the story for a stock to the positive that can create these great, you know, long money-making opportunities. i think that's what you have with expedia today. stuart: i don't know whether any of the companies that you cover are involved in this, but i'd like to know your response to the news that elon musk is suing openai and altman.

>> you know, my, almost my knee-jerk reaction so elon suing altman for being too much of a capitalist? but, you know, there was an initial contract is set up around the running of openai. i don't know whether the terms were abused that were supposed to be run developing a.i. for the benefit of humanity, i get that. i do think the a.i. will benefit humanity, i think there are going to be a lot of wonderful innovations just like mobile phones and the internet has done. anyway, there's a little bit of irony in this student. i don't know whether it has merit or not, but i find it fascinating to follow. stuart: i just hope it doesn't unravel microsoft's deal with a.i., let's hope it doesn't because i'm a microsoft stockholder. through -- there you go. mark mahaney, see you again soon. >> have a great weekend, stu. stuart: yes, sir with. you a too. friday morning, the market is about to open literally in two seconds. push that button, and away we go. we've opened ever so slightly on the downside with the dow

industrials, down 26 points. you're at 38,976. a majority of the dow 30 though, they are being sold. they're in the red. the s&p 500, where's that? it's on the downside but not -- i tell a lie. lauren: -- new high yesterday. stuart: yeah, that's right. closed at a high. .07%. it's up but not much. the nasdaq composite, that is up. lauren: record. stuart: that's right, another record because they closed at a record yesterday, so that's an intraday high, i would guess you call it. 16,124. let's have a look at big tech, here we go. lots of green there. meta, amazon, alphabet up. apple, microsoft down. then there's this, new york community bank, a regional bank, absolutely plummeting this morning. lauren, it does not appear though to have set off a banking scare elsewhere. lauren: not. i think this is the an idiosyncratic story to new york community bank. there was bad oversight, essentially. they noted issues with their loan review process, and as a

result their quarterly earnings would take a hit of $2.4 billion. that's a huge loss. now you have new management taking over. what happens now? perhaps that new management finds more material issues, and it gets a little bit worse or maybe not. but, yes, huge decline in new york community bank is take down the other regional a banks today but not by much, 1.75% decline for the top two on that one. stuart: going the other way, we have dell, michael dell's company, and that's up -- lauren: wow. stuart: 36%? i know they had a report. lauren: it is the same story as nvidia with. there's more demand than supply by a long shot. they have a backlog of a.i. servers of $2.9 billion worth. that nearly doubled in the quarter. dell is literally shipping and selling every single product that it can make to feed this a.i. demand. its servers are equipped with nvidia what chips but also amd

chips, and after this wonderful report card, dell came out and said, oh, yeah, we're increasing our dividend by 20% and, obviously, they raised their outlook for the full year after such a strong quarter. stuart: another a.i. stock. lauren: yep. stuart: i guess that's what it is. goldman sachs just made some changes to its conviction list. wait a second. a conviction list is, hey, this thing's going up, buy it, is that what it is? lauren: market opportunities defined by goldman sachs after extensive research. stuart: who's in, who's out? if. lauren: i can tell you that apple is out. there are concerns about reduced demand for the iphone specifically. goldman still maintains the buy rating which means it till loves the stock, just not enough to pit on the conviction list. they see strength in their services department and, of course, that install base. so many people use apple products. they also added amgen. they're developing a weight loss drug, so this is a way you can get into that a market. monday.com helping organize work

now, and they're removing merck and vertex. stuart: one of the stocks that justin took off in the last couple of weeks was amd. they've taken off the off to the point they've just crossed a milestone. i think i know what it is -- lauren: market cap of $300 million. i am thanking dell for this 3.7% gain request today. amd's chips, like nvidia's, also power dell's a. i. servers. so when dell called them out on their earnings call, i think investors' ears popped up. wow, is this also like nvidia? yeah, it is. and they believe dell received, i'm quoting, meaningful orders for the amd-made mi-300x chip that will start shipping this quarter. so they got the new chips that companies want. stuart: amazon recommending video doorbells. wait a second. couldn't they be hacked? lauren: yeah. and then turned into a spy

device by anyone. amazon's not the only person selling them. walmart is also a, by the way. the issue with amazon is that they're on the site, and they're also recommended as the amazon choice product. a lot of people go by that. if it's an amazon choice product, you think it's vetted. the warning comes from consumer reports. it's kind of scary. anybody can walk up to your doorbell, hold the doorbell down and then pair it to their phone. then they have -- they can see who's coming and going from your house. that's a privacy risk. consumer reports calling on the ftc to remove the doorbells from the markettal altogether -- market altogether. they're made by a chinese company if. and if as a i say, it's not just amazon selling them, but sears, shein, walmart if actually just removed them. stuart: video doorbells, i shall member that -- remember that. green energy company, plug power, they are down 6%. lauren: 666, the devil number. [laughter] the loss for the quarter and all of last year was much wider than expected, $2.30 a share for

2023. they called the challenges in the north american hydrogen market unprecedented, but it's good news, there is very good news in all this -- stuart: there is? lauren: in filing, they say they have enough money, enough cash to continue for 12 months. so they will live to see another day, or 365 days. stuart: 66 of -- 666, that was very biblical of you. thank you very much, lauren. check that big board. in business for all of five and a half minutes. 38,969, down 38 points. dow winners, topping the list is intel today. chevron, amgen, visa, a caterpillar. s&p 500, the winner is net app. don't know it. the cooper companies, autodesk, western digital, nasdaq winners, see if there's any big names. autodesk, marvell technologies, advanced microdevices, qualcomm. nice gains there. treasury yields, not as

important as they were. yields on the 10-year going up, 4.27. the price of gold still above $2,000 an ounce, 2,060. bitcoin, first time we've checked that today, it's at a $62,000 per coin. the price of oil, retreat -- no, it's not. i thought it was of retreating from $80 a barrel. it's at $79.73. nat gas still below $2. and the average price for a gallon of regular is up 2 cents at $3.33. diesel, no change, $4.06. coming up, president biden finally visits the southern border. border agents are not happy. roll tape. >> i want you to know your agents, my agents, they're mad as hell. absolutely mad. president biden went to brownsville, texas, rather than going to arizona, rather than going to san diego, california, rather than coming to eagle pass, texas, which has been the end certain. epicenter. stuart: that was brandon judd, and he will be in our show at 1

11:00. former nickelodeon star josh peck set up a debate with, is losing ozempic to lower weight considered cheating? send your thoughts to varneyviewers@fox.com. good story. fascinating story. a new york city couple's retirement dream home has turned into a nightmare. they're stuck battling a squat iser who claims he has an agreement with the previous other than. the full story off this. ♪ ♪ am i dreaming, am i dreaming. ♪ say it ain't so, say it ain't so ♪

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stuart: green on the screen on a friday morning except for the dow industrials, down 80 points at this stage. fractional. s&p's down as well, a small gain

for the nasdaq, to point -- 20 points, there you have it. a new york couple spent $2 million on their dream home, and they're now being kept out of it by a squatter. c.b. cotton joins me from queens, new york. what can the owners do to get the squatter out? >> reporter: all the family can do is take this man to court, but the husband and wife feel like they're going in sickles. the pair says -- circles. the pair says when they try to get through the front door, this is how they're greeted. >> get out. >> you can't do anything like that do -- >> -- in the house right now. >> he is our private security. >> that's ooh fine, but you're trespassing. >> reporter: according to the family, flores' attorney tells fox, quote, the case will be settled in court before a judge. finish joseph and susana if bought this home to make sure their son with down's syndrome has a secure future when they're gone. court records show the couple has had multiple hearings in

civil court trying to get flores evicted. the couple says the legal system is broken. >> how do we feel? >> destroyed. of destroyed. >> the rug was pulled from our feet. under our feet. there's no protection. >> there's no protection at all. >> reporter: so the landa family say flores has advertised rooms for rent inside the home while they've been paying thousands in utilities. in court records, flores claims he has a license to stay at the home after carrying -- caring for the previous elderly homeowner or who passed in early 2023. flores also told the court he was not given adequate with notice to leave after the couple bought the home in october 2023. a tenants' rights attorney tells us these battles can get ugly, because once a squatter stays longer than 30 days, they have established occupancy. now if records show flores has

filed for bankruptcy. which means he can't be evicted and, stu, this will delay the couple's case even longer. back to you. stuart: c.b., we hear you. that's a difficult situation. thanks, c.b. let's bring in post brothers ceo michael -- he's a frequent guest on this program and a welcome guest at that on a friday morning. the man's got a smile. he is developing apartment buildings in urban areas for retirees or millennials who want to rent forever. in urban areas. they want to rent. is there a big market for this? >> well, the biggest part of the story is really the i many eleven y'all generation is of an age and income level where in previous generations they would have been moving to the suburbs and buying houses, and they're not. one is well publicized lack of savings, but really the biggest issue is especially in large, established metro areas is a lack of product. there's no such thing as a starter e home in large cities anymore. there's no land available to

build housing within commute bl distances of jobs, and so for better or worse, the starter home and in big with cities has become a bigger, better apartment. stuart: so your apartment buildings for these people who want to rent forever, you've got to stack them full of amenities for retirees and millennials, right? >> absolutely. stuart: what do they get? >> so people are staying longer. ten years ago our average -- we have a mid-atlantic focused portfolio, our average age was 29, today it's 33, but we also have more renters of the 35-45 making well over $150,000. so these are higher-end people. and there's a few things they want. they want large scale rooms. most apartment buildings especially over the last 10 years have been built targeting a 27-year-old. these older, more sophisticated people, they want rooms they can fit full-sized furniture, they want adult aesthetic styles, kid-friendly amenities. we have lots of small children

living in our properties, and so we have amazing splash pads, indoor kids' play rooms, outdoor playgrounds and things. stuart: okay. so what's e the rent? >> the rent -- stuart: for a 33-year-old living in one of your apartment buildings in the mid-atlantic region, what's the rent per month? range. >> sure. the range, two bedrooms, anywhere from $4-8,000. stuart: $4-8,000 -- >> it's not inexpensive, but compared to the cost of ownership, it's favorable. stuart: wait a sec, do you get older people, retirees, who owned their house outright in the suburbs, they sell it, take the money, move the your apartment with building, and they don't have to worry about property taxes if maintenance and all the rest of it. >> we do get a fairly large number of empty nesters. that was actually a bigger trend certainly two years ago. today because of eye interest rates, those -- high interest rates, they're certainly not moving to the city as much. in the last year, it's definitely been more of the

millennials. stuart: last time you were with us, i think you were talking about office buildings being renovated to be apartments. are you still doing that? >> yes, we the that loft of -- we do a lot of that. we started about 900 units just in the last -- this cycle in those kind of project, and we're looking that -- stuart: the cost of conversion 's huge. >> it is. there's no value in the existing structure. often times there's negative value. the real reason these things are interesting, it's the location. these buildings, especially the ones that we're focused on, are in locations where there is no opportunity otherwise to build new housing because they're completely in-fill, there's no end available. is they're in the locations that are in the highest demand. stuart: well, michael, you're looking prosperous. i take it business is good? >> business is good. [laughter] the rental market is extremely healthy, and we're finding lots of -- lauren: i hope the supers -- if

i was paying $8,000 forever, i'd call the super for everything. [laughter] stuart: don't answer that. michael, come back soon. thanks very much, sir. now this, i'm not sure about this, dubai has been unseated as the world's fastest growing luxury real estate market. finish. lauren: so you gave it to me to figure it out. you're not sure about it, so i have to figure it out. it's manila, as in the capital of the fill piece. home prices jumped 26.3% last year. in dubai, which is number two, prices became 16% more expensive. so the bahamas is number three on the list. prices there up 15% temperature i guess it's a quick getaway for a lot of the rich millennials -- stuart: come and see naples, florida. show you that. okay. thank you, lauren. lauren: where do you think naples is? if tour stuart i don't know. this is a public service. we are, again, pointing out the president' declining physical and mental condition. it's come to the point where

every move the president makes and every word he says is scrutinized. that's my take, and it's at the top of the hour. the united autoworkers' union has thrown its support behind biden, but there's a disconnect between the leadership and the rank and file. many members do not agree with the endorsement. we have a report on that after this. ♪ ♪ you set me free. ♪ it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold. standing the test of time. everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white provides 2 shades whiter teeth and 24/7 sensitivity protection. i think it's a great product. it's going to help a lot of patients.

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♪ if. ♪ finish if. stuart: united autoworkers' leadership endorsed president biden for re-election, yes, they did. grady trimble is at uaw headquarters in detroit. all right, grady -- [laughter] what do the rank and people file say? >> reporter: well, stu, we've talked to some autoworkers who definitely don't share the same political views or preferred candidate as their union. listen to why these uaw members, some current and some retired, prefer president trump. >> donald trump speaks our language. he came and speaks directly to us. >> and i would say among the people i work with across all demographic spans, i mean, really there's a lot of support for trump. >> i see trump fighting for my

job much more than joe biden ever has done anything, you know? trump is much more reliable on trade deals, much more trustworthy, much more experienced. >> reporter: uaw president shawn fein announced the endorsement for president biden in november -- or in january, i should say, saying biden fights for its union members. but a lot of the autoworkers are worried about biden's electric vehicle mandate which trump promised to reverse. they also say as president trump was better on trade, as you just that heard from one of those uaw workers, citing the deal between the u.s., mexico and canada that former purpose brokered while he was president. president trump. another major union is still mulling who to back. the teamsters have met with trump, dean phil lips and robert f. kennedy jr. they'll be sitting down with president biden hater this month. the teamsters reported a donation to both the dnc but also the rnc which was a departure for that particular union who in recent history had

only donated to democrats. so if the teamsters do end up going with another candidate other than president biden for the endorsement, stu, it would be a big change for them and a huge snub if to president biden. finish stu? stuart: yes, it would. thanks very much, grady. still ahead, biden launched an investigation into the national security threat from chinese electric vehicles. maybe this is an excuse to keep them out of the country so they don't compete with our ev industry. florida congressman carlos jimenez on that coming up. trump has a new nickname for the governor of california. he's calling new in newscum. if -- newsom, newscum. continue like that. whoopi goldberg says biden could, quote, throw every republican in jail if the supreme court rules in trump's favor on immunity. what? kennedy reacts to that. the 10:00 hour is next. ♪ ♪ dancing, yeah, dancing, yeah

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