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Biden Rallies For Dems In Chicago Area As Campaign Nears End; Three Presidents Descend On Pennsylvania In Final Weekend Before Elections; Warnock, Walker Locked In Tight Georgia Senate Race; Twitter Announces Sweeping Layoffs Ahead Of Midterms; Share Of First- Time Homebuyers Sinks To All-Time Low; New Yorkers Head To The Polls For Final Weekend Of Early Voting; Arizona GOP Senate Candidate Seizes Momentum In Final Days. Aired 12-1p ET

Aired November 05, 2022 - 12:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[11:59:59]

BARACK OBAMA, 44TH PRESIDENT OF THE UNITED STATES: Then, it's safe to say, it is garbage. It is a lie. It is dangerous poison, we've got to call it out and put an end to that kind of mindset.

But unfortunately, it seems as if this kind of poison gets more and more attention. So, I understand why people would feel anxious. I get why you might be worried about the course of our country, I get worried, too.

I understand why sometimes it may be tempting, just to tune out. Just to watch football or HT -- GTV, or the great British baking show, what -- you know, whatever, whatever floats your boat.

But I'm here to tell you, Pittsburgh, the tuning out is not an option.

UNIDENTIFIED FEMALE: That's right. Yes.

OBAMA: Sulking and moping. That's not an option.

UNIDENTIFIED FEMALE: That's right.

OBAMA: The only way to make this economy fair is if we all of us fight for it.

AMERICAN CROWD: Yes!

The only way to save democracy is if we, together, fight for it. And it starts with electing people who know you, who see you, who care about you, who stood in your shoes. You did that two years ago, when you send Joe Biden to the White House.

He is fighting for you every day, he's got your back, doing everything he can to put more money in your pockets, to make our streets safer, to bring more good paying jobs here to Pennsylvania. Now, you need to do it again.

Because while there may be a lot of issues at stake in this election, there is one basic question that you should be asking yourself right now. And that is who will fight for you? That's the choice in this election, who? Who will fight for you? Who will fight for working people who are struggling to pay their bills?

You all listen, inflation is a real problem right now. It's not just here in America, it's worldwide. And it has to do with the legacy of the pandemic. It wreck supply chains, disrupted the economy, then you've got a war in Ukraine that sent energy prices through the roof. So, you know, folks see grocery prices going up, gas prices going up. It takes a real bite out of their paychecks. It hurts. I get that.

But, the question you've got to ask yourself is who's actually going to do something about it? The Republicans like to talk about it. But what's their answer? What's their economic policy?

They want to gut social security. They want to gut Medicare, they want to give rich folks and big corporations more tax cuts.

AMERICAN CROWD: Boo!

OBAMA: By the way, don't boo.

AMERICAN CROWD: Vote.

OBAMA: Vote. They can hear you, boo. But they'll hear you a vote.

Now, it should come no surprise that Republicans want to cut taxes for the wealthy and big corporations, because that's their solution to everything. When inflation is low, they say let's cut taxes for the wealthy.

If unemployment is high, let's cut taxes. When it's the reverse. They want to cut taxes on the wealthy. If there was an asteroid headed towards Earth. They'd all get in the room, and say, you know what we need? Tax cuts for the rich.

I mean, it's nice if you got one answer to every economic problem. Yes, we got some students here you remember when -- maybe you're more responsible than me. There were some times when I was in school where I did not study.

And you go in, and let's say, there's a math test, you didn't study for it. It would be nice if you could just write down the same answer for every question. Just write down eight. And then, you'd get an A, and you --- but, you know what, that doesn't work in math, and it doesn't work in economics.

And that's why Democrats have an actual plan to take on the drug companies to lower prices, to pass laws to make housing more affordable, to make sure big corporations create jobs here in Pennsylvania instead overseas. That's the choice in this election. That's what this is all about.

UNIDENTIFIED FEMALE: We love you!

UNIDENTIFIED FEMALE: We love you! OBAMA: There's a lot of talk about crime right now. You know, violent crime has gone up. But you know, it went up over the last seven years, not just the last two.

[12:05:02]

They don't talk about the previous guy. It's gone up in conservative rural places, not just cities.

But the question is who will fight to keep you and your family safe? Isn't Republican politicians who want to flood our streets with more guns? Who actually voted against more resources for police departments?

Or is it the Democratic leaders who worked with President Biden to pass the first major gun safety legislation in 30 years? That's the choice in this election.

Who will fight for your freedoms?

AMERICAN CROWD: The Democrats.

OBAMA: Is it Republican politicians and judicial appointees who think they should get to decide when you start a family?

AMERICAN CROWD: No!

OBAMA: And how many children you have or who you marry and who you love --

FREDRICKA WHITFIELD, CNN ANCHOR (voice-over): All right. You're listening to former President Barack Obama there.

(END VIDEOTAPE)

WHITFIELD (on camera): Touching on just about everything, from the responsibility of voting, how there is no place for hate and anti- Semitism, or the dangerous vitriol out there, in his words, the poison.

Instead, inspiring and both educating, as he's also stumping for John Fetterman -- lieutenant governor in Pennsylvania, in -- someone who is now in a very tight, hotly contested U.S. Senate race.

So, after months of campaigning, there are now just three days away until midterm elections, and the balance of power in Congress is on the line.

CNN's Arlette Saenz and Jessica Dean are following the latest on the campaign trail.

So, Arlette, to you first, President Biden will soon be speaking there in Illinois. In fact, he is speaking, right? He is there in the Chicago suburb. What's he saying? And what are people who have turned out for this rally thinking and feeling just days away from midterm elections? ARLETTE SAENZ, CNN WHITE HOUSE CORRESPONDENT (on camera):Well, Fred, President Biden is trying to focus on highlighting the economic relief that Democrats are trying to extend to American voters at a time when the economy and inflation remain of top concerned, just three days away from the election.

The president trying to draw a contrast with the Republican policy that had been put forth, specifically, in these instances today, talking about democratic efforts to lower prescription drugs, and also to protect and preserve Social Security and Medicare.

The president arguing that under Republicans, those programs would be on the chopping block. Now, the White House has been watching this election unfold over the course of the past few weeks, and is aware of how big of an issue the economy is for American voters and there's concern that voter discontent about the economy could jeopardize Democrats' chances of taking -- holding on the control of the House and Senate.

Now, the president is here in Illinois today. This is build as an official events by Congresswoman Lauren Underwood, a House Democrat in a competitive race. She is on hand hear. The president talking about things that she has done for the district as he is at this event.

But then, later on today, he will be heading over to Pennsylvania where he is linking up in Philadelphia with his former boss, President Barack Obama to campaign for John Fetterman.

That's one of the few races -- one of the few competitive Senate races that the president has gone into in the closing week of this election.

The White House, of course, saying that he's trying to go to places where he can be helpful to the candidates there. We've seen him go time and time again to Pennsylvania.

Now, later, in the week, tomorrow, he's heading to New York to try to help Governor Kathy Hochul, a Democrat in a tighter than expected race, as the White House is trying to deploy the president to the areas where he -- they believe that he can be helpful, especially in those blue states where they're trying to shore up support amongst Democrats.

WHITFIELD: Arlette Saenz, thank you so much. Of course, senators Dick Durbin and Tammy Duckworth also there with the president as he's talking to the crowd there in Joliet, Illinois.

And now, let's go to Pennsylvania. Jessica Dean is there. Biden, as Arlette just pointed out, Jessica, will be joining the former president later on for a rally. So, what's happening right now?

JESSICA DEAN, CNN CONGRESSIONAL CORRESPONDENT: Well, right now, just behind my right shoulder, you'll see former President Barack Obama, speaking to this crowd in downtown Pittsburgh.

Lieutenant Governor John Fetterman, the Democratic nominee for Senate, appearing just before him. They're certainly trying to turn out the base in what is typically a Democratic stronghold. And it is a big crowd here.

We're hearing from Obama, what we've heard from him over the last several days as he has crisscrossed the country, really making the case for Democrats in these critical swing states, specifically, for the U.S. Senate. And no race more critical for both parties than this race here in Pennsylvania. The most expensive Senate race that we've seen, ever, as both parties seek to fill what's an open seat.

So, Republican Pat Toomey were retiring. Democrats hoping to flip the seat. Republicans hoping to hold on to it, and it could very well determine who controls the U.S. Senate.

So, there is a lot at stake. And that is why you see former President Obama behind me on this Saturday before the election.

This is really the last day that they could really put him out on the trail. It's really close to Election Day.

[12:10:01]

That is no accident that we are seeing him both in Pittsburgh and in Philadelphia. Again, two strong democratic -- two very big Democratic strongholds.

We are also going to see former President Donald Trump, hitting the trail here in Pennsylvania today as well. He'll be about an hour outside of Pittsburgh. We're anticipating a big -- a big crowd for that as well. And Mehmet Oz, the Republican candidate will be appearing with him at that rally.

And an interesting line for Oz to walk, because he is really been pitching himself as a moderate, Fredricka in these final days of this campaign. And Trump, of course, monetarily turned away from him in 2020.

So, it's a fine line to really fire up that Republican base here in Pennsylvania, and also swing the moderate voters, Fredricka.

WHITFIELD: All right, the star power is out and potentially could make a real impact there in Pennsylvania and beyond.

DEAN: Yes.

WHITFIELD: Jessica Dean, Arlette Saenz, thank you so much to both of you.

So, of course, many eyes are also focusing on Georgia this weekend where there is another very close U.S. Senate race.

WHITFIELD (voice-over): Democratic senator, Raphael Warnock, holding a flurry of events across the state this weekend, contrasting his positions against Republican Herschel Walker's.

And today, Walker returned to Athens, Georgia where he played college football, hoping to gain more support.

CNN's Eva McKend is in Athens for us.

WHITFIELD (on camera): So, Eva, Walker just spoke a short time ago, he was also, you know, getting his picture taking with a lot of fans and supporters. What did he have to say?

EVA MCKEND, CNN NATIONAL POLITICS REPORTER (on camera): Well, Fred, yes. It's game day here in Athens, Georgia. It was a homecoming of sorts for Herschel Walker.

He, of course, is from Wrightsville. But it is here in Athens that launched his football career.

He mostly stuck to his traditional stump speech, a key feature of that is trying to tie his Democratic opponent Raphael Warnock to the policies of Joe Biden.

(BEGIN VIDEO CLIP)

HERSCHEL WALKER (R-GA), SENATORIAL CANDIDATE: (INAUDIBLE) as senator. (INAUDIBLE)

(END VIDEO CLIP)

MCKEND: Now, meanwhile, Warnock holding a flurry of events. He is in Savannah, his hometown, tomorrow. And really key to Warnock's election argument is that Herschel Walker is not ready to lead in the United States Senate.

Warnock also characterizing himself as a bridge builder, willing to work with Republicans in service of Georgians. Fred,

WHITFIELD: Eva McKend, thank you so much.

We're going to try and clean up that audio because it was hard to hear Herschel Walker and that's not fair. So, we're going to try and clarify that the remarks that he said in Athens a little bit later.

All right. Here to talk more about these races, particularly in Georgia, executive producer and host of Georgia Public Broadcasting's "Political Rewind", Bill Nigut. Drumroll.

And host of morning edition on NPR's WABE radio in Atlanta, Lisa Rayam. My drumroll.

All right. Good to see both of you, because I'm fans of both of you.

LISA RAYAM, HOST AND SENIOR PRODUCER, WABE MORNING EDITION: Yes.

WHITFIELD: I listen to you all the time here in Atlanta.

BILL NIGUT, EXECUTIVE PRODUCER AND HOST, GEORGIA PUBLIC BROADCASTING: Well, thank you, Fred.

WHITFIELD: So, it's great. I love you being here.

All right. So, Bill, to you first. Lots of activity -- NIGUT: Yes.

WHITFIELD: We are seeing Warnock and Walker crisscross, and they're going to places that are very close to home from --- you know, for them. With Walker there in Athens.

NIGUT: Yes.

WHITFIELD: And we're not going to be in Savannah, a little bit later on throughout the weekend. How pivotal are their appearances right now? Just three days ago?

NIGUT: Well, we believe this race is completely tied up. We -- all of the polling suggests that it's anyone's game.

But you know, here is something kind of interesting about where they are right now. Herschel Walker in Athens, Georgia plays the biggest game of the year against Tennessee later today. And that's the -- that's where Herschel Walker's fame comes from.

KOTB: Right.

NIGUT: Being at the University of Georgia --

(CROSSTALK)

WHITFIELD: Has his launched pad.

NIGUT: Being a football star.

WHITFIELD: Right.

NIGUT: And he is built a lot of his campaign around that image.

On the other hand, Raphael Warnock who talks about having grown up poor in Savannah, Georgia, where he says he got the values that today motivate him in the Senate, back home in Savannah.

And just those two locations tell you a lot about who these two men are in the closing stages of this race.

WHITFIELD: Yes. I mean, what a juxtaposition and what a contrast of these men, but at the same time, yes, returning to their roots that perhaps that will make a big difference in their appeal.

And speaking of appeal, I mean, early voting, Lisa, people came out in huge numbers. I mean, really significant.

WHITFIELD (voice-over): I mean, Georgia, certainly looking at more than 2 million ballots that have already been cast. But then when you look at the voting demographics, particularly black voters in this midterm, far outpacing the last midterm elections in 2018. This is a major voting bloc for Georgia.

WHITFIELD (on camera): So, how impactful might it be? Or really is the test, what about voting day? Because no more early voting right now. [12:15:01]

RAYAM: Yes.

WHITFIELD: But what about on Tuesday?

RAYAM: Well, early voting, certainly a win-win for Democrats, who typically turnout during the phase of early voting. The true test now is Election Day, because that's when Republicans tend to turn out.

We talked about the polling, how the two are neck and neck in the Senate race.

And the magic number, of 50 percent has not been reached by either. So, Election Day could tip in one way or the other. Or we may be seeing four more weeks of campaigning. Yeah, four more weeks of what billions, trillions in ads, and come December 6th, when the election is (INAUDIBLE)

(CROSSTALK)

WHITFIELD: And I think it's interesting, Bill, that obviously, we're not because already kind of setting the stage that maybe there's going to be a runoff. He's got an ad that talks about, you know --

(CROSSTALK)

NIGUT: Thanksgiving.

WHITFIELD: Thanksgiving.

NIGUT: It's one of the -- it's one of the best to ads of the entire election cycle with all of the demonizing ads out there. It -- you know, it's Raphael Warnock, walking in on a family's Thanksgiving, saying, I'm your special guest.

WHITFIELD: Yes.

NNIGUT: Will you still got to vote? Yes, the runoff.

WHITFIELD: But what does that say? I mean, that -- that's an interesting --

(CROSSTALK)

RAYAM: He's acknowledging the numbers for the first time.

WHITFIELD: He's acknowledging them, OK.

RAYAM: In that ad, for the first time, he was acknowledging that this possibly could go into a runoff, which, was very telling when that ad was really -- yes.

NIGUT: Should -- (INAUDIBLE)

WHITFIELD: -- not also speak to some defeat, you know, that I don't have this hands down. But --

NIGUT: Well, I think both candidates realize it.

(CROSSTALK)

WHITFIELD: As the incumbent.

NIGUT: I think, Lisa made a good point.

WHITFIELD: Yes.

NIGUT: Neither of them is over 50 percent in the polls. But here is what -- here is a really interesting factor that could come into play.

WHITFIELD: Yes,

NIGUT: We you reported your CNN, New York Times and others reported yesterday. Donald Trump is looking at announcing for President sometime in the next couple of weeks.

If Donald Trump does that, he may have the same depressive effect on Republican turnout, boosting Democratic turnout in a runoff between Warnock and Walker as he did in 2021 when his presence essentially helped Jon Ossoff and Raphael Warnock --

(CROSSTALK)

WHITFIELD: Yes.

NIGUT: Take control of U.S. Senate. Give Democrats the control of the Senate. I don't think the Walker people are happy that Trump's thinking about making that announcement so soon.

WHITFIELD: But, you know, the former president is seeing some real fruits of his labor. I mean, he really is seeing that he is potentially influential when so many of his picks have won primaries are, you know, that the-- nominees various, you know, state races. Herschel Walker being one of them now.

RAYAM: Right.

WHITFIELD: You know, national races. So, --

(CROSSTALK)

NIGUT: But, the national poll --

(CROSSTALK)

WHITFIELD: That's a boost of confidence for him.

NIGUT: I'm sorry. I mean --

WHITFIELD: Go ahead.

NIGUT: The national polls show that white suburban women are returning in large numbers to the Republican Party. Those are the very voters who elected in Georgia, Joe Biden, elected Jon Ossoff, and Raphael, Warnock.

Now, if Trump is back in the picture, they may not be as enthusiastic about continuing their Republican support in this election.

RAYA: African American women, though, continue to be a major voting bloc.

WHITFIELD: Major.

RAYAM: Specifically in this midterm election. And we just heard the heavy hitter. President Obama, who they're hoping will tip the scale come Tuesday.

WHITFIELD: Yes. So, I wonder then, you know, Lisa, Stacey Abrams. I mean, she's largely credited with energizing black voters in 2020 elections. Yet, she remains behind the polls, you know, against Republican Brian Kemp.

WHITFIELD (voice-over): And Atlanta Journal Constitution poll out this week puts Kemp ahead, 51 to 44. Why is it that perhaps, Abrams, is having a hard time generating enthusiasm, if you look at the polling numbers? When she certainly has been incredibly influential in getting people registered to vote.

RAYAM: Brilliant politician just hasn't spent enough time in some people's opinion, talking one on one with the people. You know, meeting them where they are. There's just this feeling of disconnect that she's trying to gain ground with, particularly with black males, and she says she needs to tip over this election.

But I don't know if it's too late. I don't know if it's too late.

NIGUT: It's also that she is running against an incumbent. In 2018, there was an open seat.

WHITFIELD: Yes.

NIGUT: And so, Abrams and Kemp were on leveled playing field. Kemp has now got a record. It's very difficult, as you know, Fred, to beat an incumbent governor.

(CROSSTALK)

WHITFIELD: But this is part (INAUDIBLE), part the --

NIGUT: Right.

WHITFIELD: You know, I mean, this is part two with this faceoff between the two.

NIGUT: Yes.

WHITFIELD: I remember him, he was secretary of state.

NIGUT: Yes.

WHITFIELD: -- when he was running. So, he had that kind of familiarity, I guess, you know, with Georgia voters. But she has an incredible familiarity now with --

(CROSSTALK)

NIGUT: Absolutely.

WHITFIELD: You know, the Georgia electorate, the Georgia voting bloc.

And nationally, and I'm wondering why this race seems to be very close, you know, a repeat of what we saw and why it's not like a runaway.

RAYAM: Well, she waited very late to announce that she was running for governor and some people had an issue with that. But I wouldn't count Stacey out. You know, she knows Georgia. She knows the game. She knows how to get people registered.

[12:20:02]

I'm sure she's out this weekend, you know, doing her thing. But you know, who knows? You know, and she says that African Americans particular were under polled. So, she's not buying the numbers when it comes to the difference between she and Kemp.

WHITFIELD: Right. It's not over by any stretch. Not talking past tense. We're still three days away.

RAYAM: Yes.

WHITFIELD: We're going to see what happens.

RAYAM: Every moment.

WHITFIELD: Bill, Lisa, always great to see you.

RAYAM: Thank you for having us.

WHITFIELD: Thanks so much.

NIGUT: Thanks, Fred.

WHITFIELD: Come back. Come back soon.

RAYAM: Always.

NIGUT: OK.

RAYAM: Thank you.

WHITFIELD: All right, still ahead.

WHITFIELD (voice-over): Elon Musk at laying off 1000s of employees and dismantled multiple divisions after Twitter -- at Twitter, rather after his purchase of Twitter. What is next for the company?

Plus, the housing market is going from bad to worse, as higher interest rates and prices push the number of first time homebuyers to an all-time low. We'll discuss.

(COMMERCIAL BREAK)

[12:25:10]

WHITFIELD (on camera): Welcome back. President Biden is calling out Elon Musk.

WHITFIELD (voice-over): Saying, the billionaire bought a social media platform that "spews lies across the world."

The president's remarks follow news that Twitter, laid off 1000s of employees, including 15 percent of its trust and safety workforce, just a week after it was acquired by Musk.

WHITFIELD (on camera): CNN tech reporter Brian Fung is following the story for us. So, Brian, good to see you. Let's talk about these massive cuts. I mean, and they come just days before the midterms.

In fact, civil rights groups say it could jeopardize the platform's ability to safeguard the democratic process. Is Twitter -- is there anybody left at Twitter to even respond to the critics?

BRIAN FUNG, CNN TECH REPORTER (on camera): Well, Fred, Twitter is saying that it's still committed to protecting the election, and that none of its content moderation policies have changed.

But as you pointed out, civil rights groups and leaders are saying that, you know, even though Twitter may still have these policies on the books, the layoffs could make it harder for them to enforce the policies that it does have.

Meanwhile, you have major advertisers pulling out of spending on Twitter advertising, and that's caused sharp declines in revenue at Twitter, according to Elon Musk.

And, you know, to shore up revenue, Musk has this kind of harebrained plan to charge people for verification, to have that little blue checkmark on -- next to their accounts, which some democracy experts have said, you know, could have unintended consequences if it's rolled out in the post-election period, or even before the election, potentially, you know, without proper testing.

You could potentially see, for example, you know, some people paying to have that blue checkmark and then changing their names to impersonate official accounts or, or try to spread misinformation under a verified account.

And how would the company respond to that, with a smaller workforce, it's unclear. Twitter, of course, laid off a 15 percent of its trust and safety team, but 50 percent of its overall workforce, amounting to about 3,700 people across the overall company. All of this, of course, coming just days before the election, injecting further uncertainty into an already chaotic situation. Fred.

WHITFIELD: Yes. And Brian, I think a lot of us have been reading all about what a lot of former Twitter employees have been saying. But now, what about the former CEO? How -- you know, what kind of reaction is coming from the former CEO?

FUNG: Yes. Well, Jack Dorsey, the former CEO of Twitter, just tweeted about a half hour ago. Let me read what he said. He said, "Folks at Twitter, past and present are strong and resilient. They will always find a way no matter how difficult the moment. I realize many are angry with me. I own the responsibility for why everyone is in this situation. I grew the company size too quickly. I apologize for that."

Very interesting tweet. From Jack Dorsey's, taking accountability or responsibility for having, you know, grown the company too large and thus putting the company in a position where layoffs may have been necessary, but you know, not really addressing some of the other election security or election integrity questions that are swirling around Twitter at this time, you know, at this very sensitive time, Fred.

WHITFIELD: Yes, a remarkable sequence of events. Brian Fung, thanks so much.

All right. Still to come, a new twist in the housing market. First time homebuyers in the U.S. are at an all-time low. We'll find out why, next.

(COMMERCIAL BREAK)

WHITFIELD: All right, live pictures right now of Pennsylvania Lieutenant Governor who wants to be the U.S. senator representing Pennsylvania there. John Fetterman there, fist bumping, high fiving, folks in the crowd there at a rally there in Pittsburgh. Just at the top of the hour, you'll remember that it was former President Barack Obama who was there stumping for Fetterman, well, Obama wrapped up his comments just moments ago.

And then there was a nice moment there. You see this Second Lady of the state and there Lieutenant Governor John Fetterman, nice hug there and kind of like a high five kind of handshake there, that moment there before the crowd there cheering.

And later on today, the sitting president, President Biden will be heading to Pennsylvania as well stumping for Fetterman in what is now a hotly contested, very tight race with Republican Mehmet Oz. All right, so with just days now to go before the midterm elections, Americans got a new measure of the U.S. economy this week.

The latest jobs report showing 261,000 jobs were added in October. That number is down from the month before but still higher than expected. And easing jobs market is part of what the Federal Reserve has been aiming for with its interest rate hikes in recent weeks, but higher rates also putting the squeeze on the housing market. The combination of higher rates and higher prices, pushing the share of first time homebuyers to an all-time low. Let's bring in now Jessica Lautz. She is vice president of demographics at the National Association of Realtors. So good to see you, Jessica. So, boy, this is really tough if you are a first time homebuyer because the prices of real estate are high.

And now you're looking at interest rates that have just simply soared. So are you finding that a lot of first time buyers which simply say, oh wait to another time or they just embracing the fact that it's just going to cost them more?

JESSICA LAUTZ, VP, DEMOGRAPHICS & BEHAVIORAL INSIGHTS, NATIONAL ASSOCIATION OF REALTORS: Yes, unfortunately for first time homebuyers, they're really having a hard time entering the market. Obviously affordability is a massive constrained with very limited housing inventory in the last year really dropping to an all-time low that NAR has recorded since 1999.

And then of course there's outside pressures as well. They're facing rising rents. They're seeing the rising price of goods. So saving for a down payment just goes to the backburner.

[12:35:16]

WHITFIELD: So, with that combination, then what do you -- what kind of advice do you have for folks, because if their rent is high, they can't, you know, set aside money for a down payment, interest rates are high, what kind of advice are you giving?

LAUTZ: All right, so I'll give you advice. But I'll also say what first time homebuyers are doing in the last year to be able to enter into today's market. They're moving in with mom and dad. We actually saw an all-time high of first time homebuyers saying, OK, I'll just move home. That way I can skip rent and save for a down payment. That is not available to a lot of people, though, a lot of Americans just can't move in with mom and dad.

The other option, of course, and what I would absolutely advise is to go to your experts, they know, the realtors know local communities that you might be able to afford, perhaps pairing up with a roommate. Looking at mortgage options, consulting hud.gov, seeing if there are low down payment options, and your mortgage broker will be able to help you navigate that system as well.

WHITFIELD: OK, well, that's good advice. And that's a good reality check. So then if you are lucky enough to have set aside enough money for a downpayment or you've been able to take advantage of whatever programs, like you just mentioned, are still out there, perhaps it means you are changing your idea of where you want to buy, perhaps it's, you know, it's all about location, location, location, right? But now perhaps you're having to be a little bit more adaptive on where you're going to find that first home.

LAUTZ: Absolutely. And the last year, what we saw was actually an all- time high of people moving 50 miles away from where they had lived before. They're moving to small towns, they're moving to rural areas, of course, that provides a lot of amenities as well, the yard space, acreage for some, the small town feel, and that's very attractive.

But it also is allowable with remote work with people working in hybrid settings. So that's freed up a lot of people from doing that. And perhaps support systems are there as well. But affordability super key when you think about just the small towns and rural areas and what they provide.

WHITFIELD: Wow. OK, well, what remains the constant for now, those interest rates, and here's the head of the World Bank to CNN about the Federal Reserve's ongoing interest rate hikes.

(BEGIN VIDEO CLIP)

DAVID MALPASS, PRESIDENT, THE WORLD BANK GROUP: The challenge here is probably interest rates were too low for too long, I say probably, but that's clearly the case. And so they're trying to catch up and move them to neutral. And so that process is underway.

(END VIDEO CLIP)

WHITFIELD: Is that where you place blame too?

LAUTZ: I mean, that's very possible. If we think about the beginning of the year, someone could have had an interest rate near 3 percent, now it's close to 7 percent. It's bouncing around. But that's $1,000 extra per month for a mortgage for somebody to take that on, that's really not possible for so many Americans to think about $1,000 extra in their budget, especially if they have been losing out on home after home in the last year as they put multiple bids down.

WHITFIELD: So now, I wonder if you could, you know, look into the future for me. You know, does this mean now that what we're -- soaring prices of real estate, now being met with high interest rates, right, the seller wants to move their property, the buyer wants to get into a property, does this now mean that we're going to see property prices coming down?

LAUTZ: So I have to say that home prices in the last year they were up double digits, we were seeing home prices rise more than 20 percent. In some regions of the country as high as 45 percent year over year, think of Austin for one as we saw this mass migration flow there. Home prices are moderating but they're still up.

And we really do need more housing inventory, especially at affordable price points for starter homes, even for rental homes so that home prices, rental rates, they're moderate so that people can save for a downpayment. We just don't see that today.

WHITFIELD: All right, Jessica Lautz thank you so much. We'll have you come back and hopefully you'll have good news, more good. I know it's a good reality check. And we you know, we got to face the truth. But people want to be inspired with a little help. Can they buy a house anytime soon? Thanks so much.

LAUTZ: Thank you.

[12:39:16]

WHITFIELD: All right, still to come. Former President Bill Clinton is hitting the campaign trail. We'll go live to New York where he will soon make the case for Governor Kathy Hochul in the states tight gubernatorial race.

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WHITFIELD: All right, this is a busy day of campaigning and all the big guns coming out soon. Former President Bill Clinton will hit the campaign trail. This afternoon he will rally Democrats in Brooklyn for New York Governor Kathy Hochul. Hochul was locked in a surprisingly close race with Republican Congressman Lee Zeldin.

Tomorrow, President Biden will make a last minute swing through New York to support Hochul as well. CNN's Gloria Pazmino has more on the early vote turnout for this very closely watched race.

GLORIA PAZMINO, CNN NATIONAL CORRESPONDENT: And Fred all week, we have been hearing about the record breaking number of early voters all across the country. Here in New York, where early voting is still relatively new voters have also been turning out to the polls. You can see people are voting here behind me.

And this is the last weekend that voters can come out ahead of Election Day next week. But there is a question of enthusiasm here in New York. Governor Kathy Hochul finds herself in a surprisingly close race against Republican challenger Lee Zeldin.

And we have been looking at the number of early voters so far, more than 800,000 people all across the state have cast their ballots early. Many of them right here in New York City downstate where Democrats outnumber Republicans, two to one. Now we ask the governor about that lack of enthusiasm, which has been captured in some of the polls. This is what she had to say on CNN this morning.

(BEGIN VIDEO CLIP)

[12:45:22]

GOV. KATHY HOCHUL (D-NY): So we -- I think what's not been captured in the polls is that there really is finally energy on the ground. It doesn't manifest itself earlier. But it is all coming to bear. You only need to peak on Election Day. But I do think that there's anxiety out there. You know, you're talking about the economy a lot and we understand that.

(END VIDEO CLIP)

PAZMINO: So we are expecting to see an increase amount of activity this last week in early voting. And of course, a lot of activity next week on Election Day, and the governor has been hitting the campaign trail hard in the last several days ago. She got some campaign help from former Secretary of State Hillary Clinton and Vice President Kamala Harris earlier this weekend. Today, she'll be holding a big rally here in Brooklyn, alongside former President Bill Clinton. Fred?

WHITFIELD: All right, thanks so much in New York, Gloria Pazmino.

All right, still to come, we'll head west to Arizona where the race for U.S. Senate could determine the balance of power in Washington. Polls show the candidates are neck and neck, their message to voters in this final stretch next.

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[12:50:52]

WHITFIELD: All right another state that could determine control of the U.S. Senate is Arizona. And polls their show that race along with the gubernatorial race are tightening. CNN's Kyung Lah is on the trail and Phoenix with the latest.

(BEGIN VIDEOTAPE)

BLAKE MASTERS (R-AZ), SENATE CANDIDATE: Thank you for being the tip of the spear. Let's go manufacture this red wave.

KYUNG LAH, CNN CORRESPONDENT (voice-over): A Republican resurgence pledges Senate nominee Blake Masters in the final stretch closing with this message.

MASTERS: They've made life in America life in Arizona, more dangerous, less affordable.

LAH (voice-over): That resonates with Evelyn Tinsley, small business owner, mom of four.

EVELYN TINSLEY, REPUBLICAN VOTER: A lot of things have changed since Biden has gone into office. Food has definitely gone up. It's crazy, especially with how many people we have.

LAH (voice-over): What Tinsley does not worry about is Donald Trump.

DONALD TRUMP, FORMER PRESIDENT OF THE UNITED STATES: Blake Masters --

LAH (voice-over): Urging Masters to lie about the election, like Republican gubernatorial nominee Kari Lake.

TRUMP: Look at Kari. Kari is winning with very little money. And if they say, how is your family, she says the election was rigged and stolen. You'll lose if you go soft. You're going to lose that base.

MASTERS: I'm not going soft.

LAH (on camera): What do you say to moderates who are concerned about the economy? But they're also concerned about what you're saying about the 2020 election, the election denials?

MASTERS: I don't think they're concerned about what I say about 2020. I think the most important things by far right now to voters are inflation from the border. LAH (voice-over): Democratic Senator Mark Kelly will test that belief with a message of his own. Labeling Masters as extreme on abortion, Social Security, and democracy.

SEN. MARK KELLY (D-AZ): Blake Masters has some beliefs that are just dangerous for Arizonans. Somebody who thinks they know better than everyone about everything, letting them make decisions for you is dangerous.

KEITH GREENBERG, REPUBLICAN NOW VOTING DEMOCRAT: I am a registered Republican.

LAH (voice-over): Election deniers at the top of the Republican ticket is why Keith Greenberg is at the Democrats rally.

GREENBERG: Republicans have some momentum. But I think Arizonans are smart enough to know how to vote properly and protect democracy.

LAH (voice-over): The husband of former Arizona Congresswoman Gabby Giffords, Kelly is leaning into his experience as an astronaut and his service as a Navy combat veteran.

BARACK OBAMA, FORMER PRESIDENT OF THE UNITED STATES: He is actually a Top Gun.

LAH (voice-over): Propelled in these last hours by a Democratic powerhouse.

OBAMA: And if you've got election denier serving as your governor, as your senator, as your secretary of state, as your attorney general, then democracy as we know it may not survive in Arizona. That's not an exaggeration. That is the fact.

(END VIDEOTAPE)

WHITFIELD: Kyung Lah, thanks so much for that report from Arizona.

All right, the top 10 CNN Heroes of 2022 have been announced at one of whom will be named the CNN Hero of the Year by you, our viewers. So we'll reintroduce each of them right now, each of our top 10, as you vote for your favorite in the next five weeks, as inflation skyrockets, families across the country are struggling to afford adequate food.

Recent reports find that food insecurity impacts nearly 14 million households in the U.S. But top 10 CNN Hero Bobby Wilson is showing that home grown and healthy are possible even in dense urban areas and food deserts. He's taught thousands of people how to plant, prepare, and use fresh produce as well as supported under resourced black farmers.

(BEGIN VIDEO CLIP)

BOBBY WILSON, METRO ATLANTA URBAN FARM CEO: We have turned five acres of land right here in the heart of cities into a green oasis that really impacts the quality of life of people that lives around here and visit with us.

Most of the people in this neighborhood don't have access to fruits and vegetables that they can readily get.

[12:55:02]

My main goal is to make sure that marginalized and underserved communities have access to locally grown food that's free of chemicals. We are more than just a farm. We are about justice, equity, diversity and inclusion. We are changing the dynamics of the way people think about food, the way people use food. This work is changing people's lives.

(END VIDEO CLIP)

WHITFIELD: Bobby Wilson also grows nearly three tons of food each year to distribute for free to those in need. So go to CNNHeroes.com right now to vote for him. Or for the CNN Hero of the Year that you prefer, any of our top, our favorite top 10 Heroes, you can vote for any of them or all of them up to 10 times a day every day.

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