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CNN Live Saturday

Where Bill Clinton's Health Problems Greatly Exaggerated? Will Housing Bubble Burst?

Aired May 28, 2005 - 16:00   ET

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

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


FREDRICKA WHITFIELD, CNN ANCHOR: West Point's class of 9/11. From the shadow of war, the next generation of America's military leader's prepare's to face it's own tour of duty in the war on terror.
And later...

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: One day he was playing Nintendo, next day he was in the middle of a war. Nineteen-years-olds, they are not ready to do things like this.

(END VIDEO CLIP)

WHITFIELD: CNN remember's those -- the deeply personal stories of loss from the family members of U.S. Troops who died in Iraq.

Also, is the housing bubble ready to burst? In depth on housing cost and how to avoid getting slammed if the bubble does burst.

Welcome to CNN LIVE SATURDAY. I'm Fredricka Whitfield in Atlanta.

There is renewed focus on former President Clinton's health. There are conflicting stories about his health. Erskine Bowles is traveling with the former president, and joins us now by phone in the Maldives. And Mr. Bowles, thanks so much for joining us. Former President Clinton is in the tsunami-ravaged Asia area, as a U.N. special envoy.

Is it true that he has postponed his trip to or his tour of the Maldives because of exhaustion?

ERSKINE BOWLES, FMR. CLINTON CHIEF OF STAFF: I can't tell you that I'm exhausted, and the staff is exhausted, but he's kind of like the Timex clock, he just he keeps on ticking. He's doing fine. He has four meetings -- he has four meetings tomorrow in the maldives. We fly all night tomorrow night to Banda Aceh. He has six meetings in Banda Aceh, and then we're going to fly all night back to New York. But he's doing great. He has worn me out. I can tell you that.

WHITFIELD: Well, everyone knows President Clinton to be infatiguable. And that this is somebody who keeps going and going and going. However, his trip to the tsunami-ravaged areas of Asia does come some eight months after as his quadruple bypass surgery. How is he holding up, if you can give us a sense of that?

BOWLES: He's doing great. You know, he -- honestly, it's 1:00 in the morning here and he's -- I wish he would go to bed. He's up and doing fine. But he has a hard schedule tomorrow. You know, we have four -- meetings tomorrow, and then we have, I think six meetings in Banda Aceh. And it's about -- it's an all-night flight in between. You know, I was his White House chief of staff and there's no let up in this guy. He's just like he was before.

WHITFIELD: Well, give us an idea of what his journey has been like there over the course of the past few hours, while meeting with people in Indonesia and now Maldives and also Sri Lanka earlier today. What kind of headway is he able to make?

BOWLES: I think he's made substantial headway. He's been able to talk to people about having better coordination, about making sure we've resolved some of the land issue problems so that we can move forward with temporary housing and permanent housing. He's been very focused on lively hood and how we can get micro credit into these region so that people can develop their own business and alternate businesses, so that they can get their lives back. He's been talking about how we can help the fishermen and the agriculture.

So, he's -- you know he -- clearly his interest is, couldn't be more acute in this. And, you know, he's going to spend the next -- a good portion of the next two years trying to make sure that we build back better, that we just don't build back the same poverty that was here, that we build back better schools and better roads and better hospitals and hopefully better opportunities for the people.

WHITFIELD: All right, Erakat Bowles, former Clinton chief of staff. Thanks so much for joining us on the telephone from the Maldives where you're traveling with the former president. And glad to hear that he's doing OK, and has not canceled his trip, as earlier reports indicated, because of exhaustion. Thanks so much.

Well, they are the class of 9/11. This Memorial Day weekend is graduation time at the West Point Military Academy, and the freshmen who arrived on campus just weeks before the September 11th attacks are now officers, ready for a new mission. Seventy percent of them will be in combat in Iraq or Afghanistan within a year.

Here's CNN's Alina Cho.

(BEGIN VIDEOTAPE)

ALINA CHO, CNN CORRESPONDENT (voice-over): The so-called class of 9/11 has 911 graduates. Tom Pae...

UNIDENTIFIED MALE: Tom Pae.

CHO: ... is one of them.

The army I went into was peacetime army, just training and standing there. And once 9/11 hit, totally new perspective, it changed everything. CHO: This class of 2005 began their career at West Point just weeks before 9/11. They had two years to decide whether they wanted to leave, but a majority, 77 percent, decided to stay. Cadets like Pae, who, like most of his classmates will likely be deployed to Iraq or Afghanistan within a year.

(on camera): You had said that people might be come in here for the wrong reasons but leave for the right ones. What did you mean by that?

PAE: I guess a great example is myself. I just go into the army and get some great training and get some good leadership (INAUDIBLE). Who knows, after five years, get out and get job in the global world. You know, I think a lot of people, once 9/11 hit, they saw that this isn't just a 9:00 to 5:00 thing.

UNIDENTIFIED MALE: You've earned it!

CHO (voice-over): Pae's parents are Korean immigrants and say American soldiers saved them during the Korean War. On this day, they are both proud of their son, and worried about his future.

ANDREW PAE, FATHER OF WEST POINT GRADUATE: I told him, if you want to leave West Point after two years well, that's fine to us, because we already were very much proud of you have already -- you know, two years finished. But he said, "No, dad, I just want to go, keep going."

CHO: Twenty-three West Point graduates have died since September 11th, 22 of them in combat in Iraq or Afghanistan.

Alan Lefebvre mom, Cheryl, never forgets that.

CHERYL LEFEBVRE, MOTHER OF WEST POINT GRADUATE: Well, when i was up in the stands and looking down on the cadets, I definitely envisioned -- I counted off 23.

ALAN LEFEBVRE, WEST POINT GRADUATE: It definitely crosses your mind, but you definitely have to focus on, OK, what's ahead of me? What are the challenges I have to face.

CHO (on camera): Stay focused.

A. LEFEBVRE: Stay focused, because when it comes down to it, you're going to be in charge.

CHO (voice-over): All 911 graduates are now second lieutenants in the army, a day of celebration, and the beginning of a 60-day vacation.

UNIDENTIFIED MALE: I might take a nap first. Spend some time with family and take a nap.

CHO: What about Tom Pae?

PAE: Well, first thing's first, I think I'm going to take a long nap. I'm really tired.

CHO: Good idea.

UNIDENTIFIED MALE: Class dismissed!

CHO: These graduates will soon begin serving out their five-year commitment to the army, and most say they can't wait.

Alina Cho, CNN, at the U.S. Military Academy, at West Point.

(END VIDEOTAPE)

WHITFIELD: And we have much more on military men and women this Memorial Day weekend.

Later on this program from battlefield to board room, how some soldiers look to live after the military.

Also the program to help survivors deal with the grief of losing a loved one in war.

Later, remembrances, the deeply personal stories behind the photos of American troops who have been killed in the Iraq War.

The death toll continues to mount in Iraq. At least 28 people have been killed in attacks since Friday. Seven of them died near the main gate of a joint U.S./Iraqi military base in the city of Sinjar. It happened when a rocket-propelled grenade and up to two car bombs exploded at the site. Thirty-five people were wounded, most of the casualties were at the base.

A car bombing also killed nine people in Tikrit and the carnage doesn't stop there. Three Iraqis died when a roadside bomb exploded at a U.S. military checkpoint in Mosul. And gunmen killed eight people south of Baghdad.

And meanwhile, grisly news from Hilla. Police there say, 10 Shi'ite men kidnapped a week ago have been killed. The victims disappeared while returning home from a visit to a Muslim shrine in Syria.

And insurgents are believed to have killed another hostage. Iraqi and Japanese officials say a video posted on an Islamic Web site appears to shows the body of Akahito Saito (ph). He was working in Iraq for a British security company when his convey was ambushed earlier this month.

The war in Iraq continues to play a huge part in President Bush's second term. So as a war time commander in chief, Memorial Day takes on a special significance.

CNN national correspondent Bob Franken joins us now from the White House -- Bob.

BOB FRANKEN, CNN NATIONAL CORRESPONDENT: Well, Fredricka, this is an extended weekend which is devoted mainly to recreation, but it is also, as you point out, a reminder that this is a nation of war.

(BEGIN VIDEOTAPE)

FRANKEN (voice-over): When he returns from Camp David, commander in chief Bush will lead the nation in another solemn Memorial Day salute to those presidents ordered into battle.

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: Today a new generation of Americans is making its own sacrifice on behalf of peace and freedom, and some have given their lives.

FRANKEN: Nearly 70 members of the U.S. armed forces have died in Iraq, this month alone. The largest number since the country's elections began, but the administration repeatedly describes as a reduced role for the United States military, a growing role for the Iraqis.

DICK CHENEY, VICE PRESIDENT OF THE UNITED STATES: They're going to be writing the constitution this summer, that will lead to elections under that constitution later this year. And they'll be a brand new government in place, duly elected under a newly written constitution by the end of the year.

FRANKEN: In their radio address, the opposition Democrats featured former NATO commander and presidential candidate Wesley Clark.

WESLEY CLARK, FORMER NATO COMMANDER: It's just a matter of priorities. What could be more important for government than taking care of the men and women who keep our country safe and strong. I believe as Democrats we have our priorities right.

FRANKEN: In Iraq, as well as Afghanistan, U.S. combat troops will continue to fight and die.

UNIDENTIFIED MALE: Left, right, left, right, left. One, two...

FRANKEN: Adding to the millions who are remembered, by a country that honors their sacrifice.

(END VIDEOTAPE)

FRANKEN: But in these modern times, there's another bitter controversy over another war, even as the nation commemorates those who have fought and continue to fight -- Fredricka.

WHITFIELD: All right, Bob Franken, thanks so much. A portion of the interview we just saw with the vice president, Dick Cheney. You can watch the entire interview with Dick Cheney and Lynne Cheney, his wife, on "LARRY KING LIVE," that's on Monday, Memorial Day at 9:00 Eastern time, 6:00 Pacific.

Down at last, 57 hours after perching himself atop a construction crane, a suspected murderer has his feet on solid ground again. How police were able to get him down, straight ahead on CNN LIVE SATURDAY.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: If it's going to kill me, I'm saying just do it. You know, get it over with.

(END VIDEO CLIP)

WHITFIELD: He rode a wave of debris down a river when Mount St. Helens blew over -- blew her top. Twenty-five years later he shared his survival story.

But first, a housing boom in America. Are we setting ourselves up for a bust? How to know when it's time to sell and get the most out of your home.

(COMMERCIAL BREAK)

WHITFIELD: New home sales going through the roof. That's raising questions about whether some housing markets may turn into bubbles destined to burst. The real estate market has been defying predictions about cooling off. The Commerce Department reports that housing sales jumped again in April. And right now, the median price for a home is up more than 6 percent to an all-time high of almost $231,000. In California, the price is even higher, topping $500,000 last month. The most expensive homes are in California, Connecticut, D.C., Massachusetts, and New York. The number of million-dollar homes in America has nearly doubled since the year 2000.

The amount of square footage you can get for $1 million these days might surprise you. Like the old adage says, it all depends on location, location, location.

Here's our Gerri Willis.

(BEGIN VIDEOTAPE)

KATHY BRADDOCK, BRADDOCK AND PURCELL: It is a terrific one- bedroom, totally renovated, move-in condition, one-bedroom apartment. The kitchen, as you can see, fabulous countertops, state-of-the-art appliances. And it even has a washer and dryer, which for us in New York is a big treat. One of the wonderful features of this apartment is clearly the view.

GERRI WILLIS, CNN CORRESPONDENT: What is the square footage?

BRADDOCK: It's about 822 square feet, and very well-used square footage. Every single part is well used.

WILLIS: Eight hundred and twenty-two square feet, a million dollars.

BRADDOCK: Yes.

WILLIS (voice-over): Prices in Manhattan have risen 20 percent in the last year. And the Big Apple is not the only city overheating. Some 66 metro areas posted double-digit price increases this year, and many of them are in unexpected places, like Bradenton, Florida, a baby-boomer retirement mecca, where prices spiked 45 percent. West Palm Beach and Boca Raton make the top five list too.

The boom is making it tough for middle-income Americans to land a home. Joint Center for Housing Studies at Harvard University says, 25 percent of middle class home owners, that's 9.3 million, are spending more than they should on housing. Take a look at this home on the market for $989,000 in Chicago's exclusive Lincoln Park. For the money, you get three bedrooms, two baths, and 2,500 square feet of space. But if you want a garage, you'll have to go elsewhere.

Don't look for easy pickings once you retire, either. This Miami condo on the market for $1.1 million has ocean views, but with just 1,400 square feet of space, it will be tough to accommodate the grandkids.

One house on the list delivered value for the money.

DAVID D'AUSILIO, REMAX REAL ESTATE BROKER: Well, Gerri, this is what $1 million buys you in Monroe, Connecticut.

WILLIS (on camera): It's pretty nice. Let's take a look.

D'AUSILIO: Absolutely.

WILLIS: So this is a pretty nice kitchen.

D'AUSILIO: Beautiful. The homeowners here did a lot of custom work, including the cherry cabinets. Beautiful granite counter tops and as you can see, gourmet Wolf Range with hood.

WILLIS: Very high end and naturally the sub zero.

D'AUSILIO: High end appliances throughout.

WILLIS (voice-over): Four bedrooms, 3.5 baths, 3,800 square feet on one acre of level land. Price tag, $979,000.

But even here, where values appear to be better, D'Ausilio says the market has gone too far. This man, who makes his living selling homes, is a renter.

D'AUSILIO: We decided to rent for a few years. We think this housing market's going to cool down a little bit, and we'll be able to find a better value perhaps 24 months from now.

WILLIS: Experts warn, in the metro markets, where prices have gone up the most, prices could fall, and fall hard. That means, for some people, they could end up owing more than the house is worth if they had to sell.

In most of the rest of the country, though, the likelihood is that prices might flatten, but not collapse.

Gerri Willis, CNN, New York.

(END VIDEOTAPE) WHITFIELD: Well, how do you know if the housing market where you live is heading for trouble? Rajeev Dhawan is director of the Center For Economic Forecasting at Georgia State University and he joins me now to look for some of the signs.

So, why suddenly all of this talk about the bubble and whether this bubble is going to burst?

RAJEEV DHAWAN, GSU ECON. FORECASTING CTR.: Well, there's a lot of talk in the media, if you see the latest "Fortune" magazine the whole thing was about real estate, and everybody is talking about. You get the stories from friends and relatives, I flipped the house, made the money. All of the sudden, everybody's talking about it and here we are talking about it.

WHITFIELD: And here we are. So it seems as though there has been a rather gradual increase in, you know, the median price of a home. We said at the top of the piece, over $200,000 for the median price of a home and we're seeing a lot more $900, 000, $1 million properties and people are getting creative loans in order to get into the properties. Is this what is at the root of part of the problem?

DHAWAN: Partly. When the lenders are willing to loan you 100 percent, interest-only loans for 30 years, or 40-year loans that are coming about, then of course a lot more people can afford bigger houses. And places -- coastal markets like Miami, L.A., New York, they have an influx of immigrants, especially Miami. You have Venezuelans and Argentineans coming over, fleeing their country with a lot of money and trying to buy houses.

WHITFIELD: And in a lot of cases it's just investment purposes too for a lot of the foreigners who are buying the Florida properties.

DHAWAN: Yes. They want to have a second home. They want to live over here. It's OK for them. The trouble is when you and me, the average middle class, says, he you know what, we didn't make any money in the stock market in the last four years, maybe this is our next ticket. Maybe if we flip a few houses we can make also make money like the speculators. The answer is no. Speculation by definition is risky. A lot of people will lose their money. But those who survive will make the big money.

WHITFIELD: And lose the money potentially if you flip the houses, because you're buying homes that are at a fairly high price and it's expected that or it's possible that within months or even years, suddenly that median price or market value will suddenly drop and you then end up owing more than it's actually worth. Is that what's going on?

DHAWAN: Yes, it's the bursting of that boom, when the prices moderates. But there's another thing that happens. When everybody buys it for investment, there's no buyer. There's only sellers at that point. So, that can also happen. And also you can have one-off events like what happened in California in the early '90s, the aerospace industry totally went away, a quarter million jobs lost in a couple of years. WHITFIELD: Yes.

DHAWAN: That started the crash in the housing market over there which went on for three or four years. The idea is that no matter what happens, Houston, New York, L.A. within five to seven years you will come back to the same old price, even if we have a big crash. So, the issue would be people should buy houses based upon their housing need, not for investment purposes. Leave that game for the speculators.

WHITFIELD: So, what do you advise for the person who now is in that home, may have a very large mortgage, perhaps they have that interest interest-only kind of loan. Are you suggesting they need to refinance, they need to unload that house all together? What do they do? What are they're options?

DHAWAN: If they have a job, and they're going to be working and living in that area, try to live there for five to seven years so that you can recover any problems that happen in the housing market. And also in between, pray that your boss gives you a big raise.

WHITFIELD: Hope -- got the fingers crossed, hope for the big raise. All right, Rajeev Dhawan, good to see you.

DHAWAN: Thank you, Fredricka.

WHITFIELD: Well, from fatigues on the battlefield to suits and ties in the board room. Ex-military applying their skills learned in combat to corporate America.

And this...

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: He believed in the goodness of his country and his people. And he stood up for that, to the moment he was killed.

(END VIDEO CLIP)

WHITFIELD: Honoring the fallen troops of our nation, this Memorial Day weekend, the story of Patrick McCaffery, when CNN LIVE SATURDAY returns.

(COMMERCIAL BREAK)

WHITFIELD: They've placed their lives on the line, on the warfront. Now some veterans are using the skills they learned in combat in a different arena -- here at home. Kathleen Hays takes a look at the move from the battlefield to the board room.

(BEGIN VIDEOTAPE)

KATHLEEN HAYS, CNN CORRESPONDENT (voice-over): Operation Iraqi Freedom, starting summer, 2003. The Lieutenant Colonel Al Ahuja commanded an infantry battalion in Mosul, fighting insurgents, rebuilding the city. Now, after 20 years he's leaving the army. His new priority, his family.

LT. COL. AL AHUJA, SEEKING CORPORATE JOB: I have a 3-year-old. I haven't been here for her first few birthdays.

HAYS: And his career. He's setting his sights on corporate America and what he's selling, above all is a lifetime of leadership.

AHUJA: It's something that you can't get at a university. It's something that you can only get with experience and opportunity. And I think the army provides opportunity every single day to build and develop your leadership skills.

HAYS: An estimated 250,000 people leave the military each year, according to "G.I. Jobs" magazine and about 15 percent of these are officers. Military head hunters say the skills of these men and women are on par with those of senior executives at top corporations.

ALEX POWERS, CEO, MA3 LLC: They're great at team building. They're disciplined. They're highly educated. They're very well- trained. And basically, they are -- for years they have managing people, resources, and equipment.

HAYS: That's why some companies actively recruit them, like Home Depot, Sprint, and Global Powerhouse, General Electric. Air force veteran Susan Kratch has worked at GE for two and a half decades. She says former military officers have helped GE cut costs, boost quality and open new markets around the world.

SUSAN KRATCH, MILITARY INITIATIVE MGR., GE: Where other people have failed before, these people seem to be able to conquer the mission and achieve the objectives.

HAYS: But she says they were not always welcome in corporate America.

KRATCH: When I got out of the Vietnam experience, people, when we left the military, were told don't tell anyone you were in the military.

HAYS: Al Ahuja says talent for managing and motivating all kinds of people make him a perfect candidate for a job in retail distribution. And he is frustrated that some companies can't look past his lack of specific industry experience, because he's certain he has what it takes.

AHUJU: I'm new, full of fire, I want to bring some energy to your organization, and I know I can do well. Give me a chance.

HAYS: Companies who fire former military officers say it's more than a smart business move.

(on camera): They say it's a way to say thank you, and to give something back to those who have given their service to their country.

Kathleen Hays, CNN, Ft. Campbell, Kentucky.

(END VIDEOTAPE)

WHITFIELD: Helping those left behind after the death of a loved one in combat. Next on CNN LIVE SATURDAY, a program that offers outreach counseling and hope for grieving families.

But first, he spent more than two days in a crane high above Atlanta. What it took to bring a suspected killer down when CNN LIVE SATURDAY continues.

And surviving a volcanic eruption. One man's incredible story of how he and a friend took on Mt. St. Helens and lived.

(COMMERCIAL BREAK)

WHITFIELD: Here's what's happening now in the news. Former President Bill Clinton is continuing his tour of tsunami-ravaged parts of southeast Asia. that's the word from his former White House chief of staff. An earlier published report says a tour of the Maldives was scrapped because Clinton was suffering from exhaustion. His folks say that's not true.

It's graduation day at the U.S. Military Academy at West Point, New York. The class of 2005 entered the academy just weeks before the 9/11 attacks. Ironically, there were exactly 911 graduates today. About 70 percent of the new second lieutenants are expected to serve in Iraq and Afghanistan within one year.

Two bombs ripped through a marketplace on an Indonesian island today. At least 20 people were killed and 53 others wounded. The bombs went off 15 minutes apart, the second explosion, much larger bomb, apparently, took place as people were rushing to the scene to help the victims of the first attack.

Here in Atlanta, a murder suspect who spent more than two days atop a construction crane, is now in custody, awaiting charges. The standoff came to an end early this morning.

CNN's Catherine Callaway, has more on the suspect and how his capture went down.

(BEGIN VIDEOTAPE)

CATHERINE CALLAWAY, CNN CORRESPONDENT (voice-over): It's a bizarre story that began in Pinellas County, Florida, and ended 350 high atop a crane in Atlanta, Georgia. On Tuesday, Florida authorities find a badly beaten body of 36-year-old Jennifer Gonzalez in a retention pond behind this apartment complex near Tampa. A day later in Atlanta, a man forces his way past construction workers, and climbs onto the arm of a crane, perched 25 stories high. His I.D. falls out of his pocket, that's when police realize this was the man, 41-year-old Carl Edward Roland, wanted by Florida officials in connection with the death of his ex-girlfriend, Jennifer Gonzalez.

Roland remains on the crane, refusing to eat, drink or talk with negotiators, and shutting down part of the busy Buckhead area for 57 hours, until 12:30 a.m. Eastern time Saturday, when Roland agrees to take a drink of water from a negotiator on the crane. Roland is tackled, tasered and handcuffed. He was strapped to an orange backboard and hoisted down the side of the crane. Roland was taken to a local hospital for treatment of dehydration. Officials credit negotiator Vincent Velasquez (ph) for the safe ending.

CHIEF ALAN DREHER, ATLANTA POLICE: They developed a repertoire. And over a period of time without food and water his -- his physical condition deteriorated. And so, through his negotiations, he was able to entice Mr. Roland into a position where we could affect a tactical solution.

CALLAWAY: Roland's family had been critical of how the police handled the situation. This morning, they were happy it was over.

JOHN ROLAND, SUSPECTS BROTHER: It's a long, tall mountain we've got to climb, but we're going to climb that together.

CALLAWAY (voice-over): Roland will remain here at Grady Memorial Hospital. When he's released, he'll be transferred to the Fulton County Jail, where he will face charges here in Atlanta. He will then be extradited to Florida on murder charges.

Catherine Callaway, CNN, Atlanta.

(END VIDEOTAPE)

WHITFIELD: All week we've been taking a look at survivor stories, people who managed to escape potentially deadly situations.

Well, some boaters in Washington D.C. could be included in that group. Between 20 and 30 people had to be rescued today from the chilly waters of the Potomac River to after their boat overturned in the stormy weather. They were taking part in the city's annual Dragon Boat Festival. None of them were seriously hurt. But officials say, some of them were suffering from hypothermia.

And now an amazing story of survival that happened decades ago, but is still fresh in the mind of the man who experienced it. A young man who found himself in the middle of a massive mud slide brought on by the eruption of Mt. St. Helens back in 1980. Now 25 years later, he returns to the site of that disaster and recounts his terrifying ordeal to CNN's Peter Viles.

(BEGIN VIDEOTAPE)

PETER VILES, CNN CORRESPONDENT (voice-over): This is the spot where Roald Reitan was sure he would die 25 years ago. In fact, he asked for death.

ROALD REITAN, SURVIVED ERUPTION: If it's going to kill me, I'm saying, "Just do it." You know, "Get it over with."

VILES: It started as a romantic camping trip, 19-year-old Roald, his girlfriend, Venus Dergan. True, Mt. St. Helens was acting up, but nobody thought this area was at risk.

(on camera): How far are we right now from the mountain itself?

REITAN: Forty-six miles as you go on the highway.

VILES: Forty-six miles. So you're way in the safe area.

REITAN: Oh, yes.

VILES: Yes.

REITAN: I mean, I figured...

VILES: At least you thought you were.

REITAN: Yes. I mean, so did the scientists and everybody else.

VILES (voice-over): But on Sunday morning, May 18th, 1980, the peaceful river told violent.

REITAN: When it was rumbling around the corner, it sounded like a monster coming through the forest.

VILES: The monster was a river made of mud, ash and trees, a killer mudslide.

UNIDENTIFIED MALE: All units in the area, we have a report of a mud flow 300 feet deep.

VILES: In an instant, it swept away the two teenagers.

REITAN: I told Venus to jump. I said, "Jump." You know, then we jumped. And I landed on a big log like you ride a horse, just -- and she went just right in between two of them, and she was gone.

VILES (on camera): She went under?

REITAN: Yes. It's like, I mean, gone. Like, you know, she was next to me one second when we jumped, and when I hit a log, you know, I looked at her, I just saw her go right in between two of them. And I thought she was dead for sure.

VILES: Right.

REITAN: You know, and I thought I was going to be dead, too.

VILES (voice-over): Somehow, Roald steadied himself. Twice, he grabbed his girlfriend, but twice the river took her back.

REITAN: Fear's ebbing from me, and now I'm getting mad. I mean, I'm really getting mad, because it's like, you know, I found her twice. It's like -- and it's taking it away from me. It's like, no way.

VILES: The third time he held on.

REITAN: She was freezing. And I grabbed her by her shoulders and her hair, and I pulled her out of it, all the way out. You know, and I was telling myself, "There's no way I'm going to let her go."

VILES: He held on for half an hour, fighting their way out of the torrent of mud.

REITAN: When we got out of it, the ordeal wasn't over. You know what I mean? Basically, the worst part of it was when we got out, because we had to walk all the way back.

VILES: They stumbled in the woods for hours, rescued at least by helicopter. And only then did the pilot reveal to Roald what had caused this epic mudslide.

REITAN: He looked at me and he goes, "You want to see what almost killed you?" And I said, "What?" And that's when I saw it. The mountain, oh, yeah, and it just like -- like a surreal steam engine, I mean, just the smoke going straight up.

VILES (voice-over): In an instant, Mount St. Helens had blown apart in a massive eruption that killed 57 people, flattened huge forests, and created deadly mud flows. Roald's girlfriend, Venus, survived, but her injuries were severe. She couldn't walk for three months.

REITAN: She doesn't really like to come down here, you know, and I don't blame her, you know. Because what, you know, her injuries were worse than mine, really, they were. Her ordeal started when she got to the hospital. Because all her abrasions and everything had to be scrubbed with a brush to get the volcanic ash out of her skin.

VILES: Roald and Venus are still friends. The river that almost killed them is peaceful again.

REITAN: Just like it was yesterday. I can close my eyes and relive it every second of what happened.

VILES: Peter Viles for CNN, Toutle, Washington.

(END VIDEOTAPE)

WHITFIELD: So what's going on with Mt. St. Helens now? You might recall last fall the volcano began emitting steam. And as recently as March a plume of smoke and ash spewed nearly seven miles in the air. The volcano has quieted, but scientists are still monitoring it constantly. And because of that monitoring, local officials have reopened part of a highway near the volcano that had been kept closed at night for safety reasons.

We are remembering military veterans during this Memorial Day weekend. At a time when heroes were needed, they answered the call. Many sacrificing their own lives so that others could live in freedom. Among them, Sergeant Patrick McCaffrey. His love of children and his commitment to duty led him to Iraq.

(BEGIN VIDEO CLIP)

NADIA MCCAFFREY, PATRICK'S MOTHER: The day he decided to enlist, the day after 9/11, he didn't thought a second that he would be one day be deployed to Iraq and end his life there. Patrick was the first combat death in 58 years, the first soldier, national guard to be killed in action in 58 years from California. He believed in the goodness of his country, and his people, and he stood up for that. To the moment he was killed. He was attacked by both sides of his body through his vest, and even wounded, he run to the other soldier, to make a shield of himself.

This picture is the one that was taken 40 minutes before his death. And the flowers that he have, that he's holding were given by the children. He also, I'll show you after, took a picture at the same time of a little girl from the Humvee that was giving him a big flower that he later would have in his hand, holding her little brother and that says it all. And he would say to us, you know, he called everyday and he would say to us, "the children are my light."

I think the gesture that we did, not just we, but the other parent, mothers, to go and meet with other parents, and give the humanitarian aid of $600,000 for the children of Fallujah, that -- this was the most important thing really. The children didn't start the war.

We all remember the day Patrick left for Iraq, the whole family does. He was a very cheerful person. He had a smile practically all the time. He left to the plane -- walking to the plane with a big smile on his face, waving at us. That's the way we will remember him. The way Patrick came home was in that coffin -- with a flag on it. And that's the way I want my country to remember Patrick's coming home.

(END VIDEO CLIP)

WHITFIELD: We will remember another fallen soldier later this hour. He was a teenage private who died with the American flag on his shoulder, and he wasn't even a citizen of the United States. And helping hands for families of soldiers killed on the battlefield, outreach for grieving families ahead on CNN LIVE SATURDAY.

(COMMERCIAL BREAK)

WHITFIELD: Memorial Day weekend, a time to honor those who've lost their lives serving their country. And also a time to remember the children, who's -- who those brave men and women have left behind. Many of those children are very young, and find it extremely difficult to cope after losing their parent.

CNN's Kathleen Koch reports on a special camp in Virginia that's trying to help with their recovery.

(BEGIN VIDEOTAPE)

UNIDENTIFIED FEMALE: He'd do pushups and we'd all get on his back. And he'd pick us up. He'd go up and then down and up and down.

KATHLEEN KOCH, CNN CORRESPONDENT (voice-over): Memories of a father no longer alive. Memories military children feel safe to share at Good Grief Camp.

UNIDENTIFIED MALE: What do you miss now -- because that's (INAUDIBLE)?

UNIDENTIFIED FEMALE: I never got to know him.

KOCH: The Virginia program pairs children who've lost a loved one with a military mentor, some who've seen their own parents die in military tragedies.

MICKI KUZEWSKI, MENTOR: So, I had to step up and kind of take over and really be there for my mom. And whatever you guys do, don't ever lose your youth. Just enjoy it while you can.

KOCH: Airman First Class Mickey Kuzewski's father, Michael, died in 1996 in a helicopter crash collision at Camp Lejeune.

KUZEWSKI: I wanted to touch another child's life, and really help them out and guide them through the process of grieving.

UNIDENTIFIED MALE: He was going to bomb this building and when he did a piece of metal got right in here and it got into things so they couldn't take it out.

KOCH: Micki was paired with Patricia Latham, whose father, William, died two years ago after being wounded in Iraq. And with Torre Hall (ph), whose Father Kelly (ph), died in 1998 in a plane crash in Germany.

PATRICIA LATHAM, GRIEF CAMPER: It's good to cry. It's not -- I'm not ashamed of it. Because if you keep it all bundled up, then eventually it's going to come out some way that you don't want.

KOCH: But the camp is about more than grieving. They learn how to support one another.

Kathleen Koch, CNN, Washington.

(END VIDEOTAPE)

WHITFIELD: News around the worlds now.

A four-day manhunt is over in Colombia for a right-wing paramilitary leader and accused killer, Diego Fernando Murillo, a reputed warlord is wanted in last month's killing of a state Congressman. His surrender could help salvage peace talks between the government and illegal militias.

Out and proud, hundreds of people turned out for Romania's first ever gay pride parade today. Marchers waved rainbow flags, they carried banners reading "Don't discriminate." Homosexuality was a crime in Romania until four years ago.

A much different celebration is taking place in Armenia. About 150,000 people joined hands and danced on the nation's highest mountain today. The show of unity was to commemorate the country's founding 87-years-ago and other historic events.

Well, straight ahead, Carol Lin will continue our look at CNN LIVE SATURDAY.

What's on tap?

CAROL LIN, CNN ANCHOR: Well, on this Memorial Day weekend, we thought it'd be interesting to talk to some of the soldiers who are actually writing about their war-time experiences from the front line. They started their own blogs and I've got someone, Chris Masica (ph), a 24-year-old who just came home from the battlefield and his memories. Writing from the front lines were so compelling and so personal and apparently very popular thing to start.

At 10:00 tonight in our prime time show, I'm going to be talking about the Cleo Awards. We're going to show you pictures of one of our favorite ad. This was so great, two men holding hands, running through a field of flowers to the Bee Gees. Conjures up a image, that though, it's a surprising ending when you find out what it is. But we'll also show some of the other winners, and we're going to show some of the clips, which are really the most fun.

WHITFIELD: Yes, and that's a lot of fun. Look forward to that. Thanks, Carol.

LIN: Thanks, Fred.

WHITFIELD: All right. Well, coming up, a deeply personal story of loss.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: He was in the middle of nowhere. It was raining, you see here, and he was smiling, no matter what, he was happy all the time.

(END VIDEO CLIP)

WHITFIELD: A teenage boy one day, a proud military man the next, Private Diego Rincon gave his life to a country of which he wasn't even a citizen.

(COMMERCIAL BREAK)

WHITFIELD: Many of the troops in Iraq enlisted after the September 11th attacks. And as we honor those killed in the line of duty during this Memorial Day weekend, the father of one such soldier pays special tribute to his son.

(BEGIN VIDEO CLIP)

GEORGE RINCON, DIEGO'S FATHER: He was ready to go to the home homecoming. And I was (INAUDIBLE) because, obviously he was my big boy, you know. That's Diego right there. And there's a picture of my baby in his beautiful uniform. I mean, he's my baby big time. I miss Diego. One day he was playing Nintendo, the next day, he was in the middle of the war. 19-years-old, they are not ready to do things like this. They are (INAUDIBLE). Wants to have fun. But Diego, no, Diego was doing something for everybody in this country.

UNIDENTIFIED MALE: I Diego Fernando Rincon do solemnly swear.

PCF. DIEGO FERNANDO RINCON: Do solemnly swear.

RINCON: He decided to go into the army because after what happened September 11th, you know, (INAUDIBLE) changed his life, I think. He said, "Dad, I have to do something for my country. It's my country to defend." It's nothing -- I don't want to be here, sitting around waiting for somebody to kill us here, you know? He was in the middle of nowhere. It was raining, you see here, and he was smiling. No matter what, he was happy all the time and you know why he was happy all the time? Because he was in there for you, America, for us, and for everybody.

This is Diego Rincon right here, see the face right here. I was asking why don't you go to into the army and be in the kitchen. He said, No, let me go up to be in the front. I said, no. I need to be -- I want to be with the best ones. Coming to this country, giving everything, not even being a U.S. citizen and giving his own life for this country was -- only heroes do that, you know. And he died with Diego the same day. But no matter what, I'm strong. I'm going to be OK.

I don't want to take my son out of the picture out of my life. He's going to be in my picture of my life forever. And I pray for every single family in Iraq. And not only that, because they desire to leave a free life free -- life and they deserve to help other (ph) country, like we have here in the United States. For me, every single red color in the flag is the blood of my son. This is not for free. We paid for this. And we paid this big time, you know, only to give some people a nice country to live.

(END VIDEO CLIP)

WHITFIELD: Born in Colombia, Rincon was not a U.S. Citizen when he was killed in Iraq. He was awarded the honor, however, posthumously. That's going to do it for this hour of CNN LIVE SATURDAY.

Straight ahead, "PEOPLE IN THE NEWS", profiling the most wanted terrorist in Iraq of Abu Musab al-Zarqawi.

Then at 6:00 Eastern, Carol Lin with the story of military bloggers trying to record the real life stories of soldiers in the Iraq War.

And 7:00 Eastern, it's "THE CAPITAL GANG," talking action in Congress this week from John Bolton to stem cells. And I'll be back in a few minutes with this hours headlines.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com


Aired May 28, 2005 - 16:00   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
FREDRICKA WHITFIELD, CNN ANCHOR: West Point's class of 9/11. From the shadow of war, the next generation of America's military leader's prepare's to face it's own tour of duty in the war on terror.
And later...

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: One day he was playing Nintendo, next day he was in the middle of a war. Nineteen-years-olds, they are not ready to do things like this.

(END VIDEO CLIP)

WHITFIELD: CNN remember's those -- the deeply personal stories of loss from the family members of U.S. Troops who died in Iraq.

Also, is the housing bubble ready to burst? In depth on housing cost and how to avoid getting slammed if the bubble does burst.

Welcome to CNN LIVE SATURDAY. I'm Fredricka Whitfield in Atlanta.

There is renewed focus on former President Clinton's health. There are conflicting stories about his health. Erskine Bowles is traveling with the former president, and joins us now by phone in the Maldives. And Mr. Bowles, thanks so much for joining us. Former President Clinton is in the tsunami-ravaged Asia area, as a U.N. special envoy.

Is it true that he has postponed his trip to or his tour of the Maldives because of exhaustion?

ERSKINE BOWLES, FMR. CLINTON CHIEF OF STAFF: I can't tell you that I'm exhausted, and the staff is exhausted, but he's kind of like the Timex clock, he just he keeps on ticking. He's doing fine. He has four meetings -- he has four meetings tomorrow in the maldives. We fly all night tomorrow night to Banda Aceh. He has six meetings in Banda Aceh, and then we're going to fly all night back to New York. But he's doing great. He has worn me out. I can tell you that.

WHITFIELD: Well, everyone knows President Clinton to be infatiguable. And that this is somebody who keeps going and going and going. However, his trip to the tsunami-ravaged areas of Asia does come some eight months after as his quadruple bypass surgery. How is he holding up, if you can give us a sense of that?

BOWLES: He's doing great. You know, he -- honestly, it's 1:00 in the morning here and he's -- I wish he would go to bed. He's up and doing fine. But he has a hard schedule tomorrow. You know, we have four -- meetings tomorrow, and then we have, I think six meetings in Banda Aceh. And it's about -- it's an all-night flight in between. You know, I was his White House chief of staff and there's no let up in this guy. He's just like he was before.

WHITFIELD: Well, give us an idea of what his journey has been like there over the course of the past few hours, while meeting with people in Indonesia and now Maldives and also Sri Lanka earlier today. What kind of headway is he able to make?

BOWLES: I think he's made substantial headway. He's been able to talk to people about having better coordination, about making sure we've resolved some of the land issue problems so that we can move forward with temporary housing and permanent housing. He's been very focused on lively hood and how we can get micro credit into these region so that people can develop their own business and alternate businesses, so that they can get their lives back. He's been talking about how we can help the fishermen and the agriculture.

So, he's -- you know he -- clearly his interest is, couldn't be more acute in this. And, you know, he's going to spend the next -- a good portion of the next two years trying to make sure that we build back better, that we just don't build back the same poverty that was here, that we build back better schools and better roads and better hospitals and hopefully better opportunities for the people.

WHITFIELD: All right, Erakat Bowles, former Clinton chief of staff. Thanks so much for joining us on the telephone from the Maldives where you're traveling with the former president. And glad to hear that he's doing OK, and has not canceled his trip, as earlier reports indicated, because of exhaustion. Thanks so much.

Well, they are the class of 9/11. This Memorial Day weekend is graduation time at the West Point Military Academy, and the freshmen who arrived on campus just weeks before the September 11th attacks are now officers, ready for a new mission. Seventy percent of them will be in combat in Iraq or Afghanistan within a year.

Here's CNN's Alina Cho.

(BEGIN VIDEOTAPE)

ALINA CHO, CNN CORRESPONDENT (voice-over): The so-called class of 9/11 has 911 graduates. Tom Pae...

UNIDENTIFIED MALE: Tom Pae.

CHO: ... is one of them.

The army I went into was peacetime army, just training and standing there. And once 9/11 hit, totally new perspective, it changed everything. CHO: This class of 2005 began their career at West Point just weeks before 9/11. They had two years to decide whether they wanted to leave, but a majority, 77 percent, decided to stay. Cadets like Pae, who, like most of his classmates will likely be deployed to Iraq or Afghanistan within a year.

(on camera): You had said that people might be come in here for the wrong reasons but leave for the right ones. What did you mean by that?

PAE: I guess a great example is myself. I just go into the army and get some great training and get some good leadership (INAUDIBLE). Who knows, after five years, get out and get job in the global world. You know, I think a lot of people, once 9/11 hit, they saw that this isn't just a 9:00 to 5:00 thing.

UNIDENTIFIED MALE: You've earned it!

CHO (voice-over): Pae's parents are Korean immigrants and say American soldiers saved them during the Korean War. On this day, they are both proud of their son, and worried about his future.

ANDREW PAE, FATHER OF WEST POINT GRADUATE: I told him, if you want to leave West Point after two years well, that's fine to us, because we already were very much proud of you have already -- you know, two years finished. But he said, "No, dad, I just want to go, keep going."

CHO: Twenty-three West Point graduates have died since September 11th, 22 of them in combat in Iraq or Afghanistan.

Alan Lefebvre mom, Cheryl, never forgets that.

CHERYL LEFEBVRE, MOTHER OF WEST POINT GRADUATE: Well, when i was up in the stands and looking down on the cadets, I definitely envisioned -- I counted off 23.

ALAN LEFEBVRE, WEST POINT GRADUATE: It definitely crosses your mind, but you definitely have to focus on, OK, what's ahead of me? What are the challenges I have to face.

CHO (on camera): Stay focused.

A. LEFEBVRE: Stay focused, because when it comes down to it, you're going to be in charge.

CHO (voice-over): All 911 graduates are now second lieutenants in the army, a day of celebration, and the beginning of a 60-day vacation.

UNIDENTIFIED MALE: I might take a nap first. Spend some time with family and take a nap.

CHO: What about Tom Pae?

PAE: Well, first thing's first, I think I'm going to take a long nap. I'm really tired.

CHO: Good idea.

UNIDENTIFIED MALE: Class dismissed!

CHO: These graduates will soon begin serving out their five-year commitment to the army, and most say they can't wait.

Alina Cho, CNN, at the U.S. Military Academy, at West Point.

(END VIDEOTAPE)

WHITFIELD: And we have much more on military men and women this Memorial Day weekend.

Later on this program from battlefield to board room, how some soldiers look to live after the military.

Also the program to help survivors deal with the grief of losing a loved one in war.

Later, remembrances, the deeply personal stories behind the photos of American troops who have been killed in the Iraq War.

The death toll continues to mount in Iraq. At least 28 people have been killed in attacks since Friday. Seven of them died near the main gate of a joint U.S./Iraqi military base in the city of Sinjar. It happened when a rocket-propelled grenade and up to two car bombs exploded at the site. Thirty-five people were wounded, most of the casualties were at the base.

A car bombing also killed nine people in Tikrit and the carnage doesn't stop there. Three Iraqis died when a roadside bomb exploded at a U.S. military checkpoint in Mosul. And gunmen killed eight people south of Baghdad.

And meanwhile, grisly news from Hilla. Police there say, 10 Shi'ite men kidnapped a week ago have been killed. The victims disappeared while returning home from a visit to a Muslim shrine in Syria.

And insurgents are believed to have killed another hostage. Iraqi and Japanese officials say a video posted on an Islamic Web site appears to shows the body of Akahito Saito (ph). He was working in Iraq for a British security company when his convey was ambushed earlier this month.

The war in Iraq continues to play a huge part in President Bush's second term. So as a war time commander in chief, Memorial Day takes on a special significance.

CNN national correspondent Bob Franken joins us now from the White House -- Bob.

BOB FRANKEN, CNN NATIONAL CORRESPONDENT: Well, Fredricka, this is an extended weekend which is devoted mainly to recreation, but it is also, as you point out, a reminder that this is a nation of war.

(BEGIN VIDEOTAPE)

FRANKEN (voice-over): When he returns from Camp David, commander in chief Bush will lead the nation in another solemn Memorial Day salute to those presidents ordered into battle.

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: Today a new generation of Americans is making its own sacrifice on behalf of peace and freedom, and some have given their lives.

FRANKEN: Nearly 70 members of the U.S. armed forces have died in Iraq, this month alone. The largest number since the country's elections began, but the administration repeatedly describes as a reduced role for the United States military, a growing role for the Iraqis.

DICK CHENEY, VICE PRESIDENT OF THE UNITED STATES: They're going to be writing the constitution this summer, that will lead to elections under that constitution later this year. And they'll be a brand new government in place, duly elected under a newly written constitution by the end of the year.

FRANKEN: In their radio address, the opposition Democrats featured former NATO commander and presidential candidate Wesley Clark.

WESLEY CLARK, FORMER NATO COMMANDER: It's just a matter of priorities. What could be more important for government than taking care of the men and women who keep our country safe and strong. I believe as Democrats we have our priorities right.

FRANKEN: In Iraq, as well as Afghanistan, U.S. combat troops will continue to fight and die.

UNIDENTIFIED MALE: Left, right, left, right, left. One, two...

FRANKEN: Adding to the millions who are remembered, by a country that honors their sacrifice.

(END VIDEOTAPE)

FRANKEN: But in these modern times, there's another bitter controversy over another war, even as the nation commemorates those who have fought and continue to fight -- Fredricka.

WHITFIELD: All right, Bob Franken, thanks so much. A portion of the interview we just saw with the vice president, Dick Cheney. You can watch the entire interview with Dick Cheney and Lynne Cheney, his wife, on "LARRY KING LIVE," that's on Monday, Memorial Day at 9:00 Eastern time, 6:00 Pacific.

Down at last, 57 hours after perching himself atop a construction crane, a suspected murderer has his feet on solid ground again. How police were able to get him down, straight ahead on CNN LIVE SATURDAY.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: If it's going to kill me, I'm saying just do it. You know, get it over with.

(END VIDEO CLIP)

WHITFIELD: He rode a wave of debris down a river when Mount St. Helens blew over -- blew her top. Twenty-five years later he shared his survival story.

But first, a housing boom in America. Are we setting ourselves up for a bust? How to know when it's time to sell and get the most out of your home.

(COMMERCIAL BREAK)

WHITFIELD: New home sales going through the roof. That's raising questions about whether some housing markets may turn into bubbles destined to burst. The real estate market has been defying predictions about cooling off. The Commerce Department reports that housing sales jumped again in April. And right now, the median price for a home is up more than 6 percent to an all-time high of almost $231,000. In California, the price is even higher, topping $500,000 last month. The most expensive homes are in California, Connecticut, D.C., Massachusetts, and New York. The number of million-dollar homes in America has nearly doubled since the year 2000.

The amount of square footage you can get for $1 million these days might surprise you. Like the old adage says, it all depends on location, location, location.

Here's our Gerri Willis.

(BEGIN VIDEOTAPE)

KATHY BRADDOCK, BRADDOCK AND PURCELL: It is a terrific one- bedroom, totally renovated, move-in condition, one-bedroom apartment. The kitchen, as you can see, fabulous countertops, state-of-the-art appliances. And it even has a washer and dryer, which for us in New York is a big treat. One of the wonderful features of this apartment is clearly the view.

GERRI WILLIS, CNN CORRESPONDENT: What is the square footage?

BRADDOCK: It's about 822 square feet, and very well-used square footage. Every single part is well used.

WILLIS: Eight hundred and twenty-two square feet, a million dollars.

BRADDOCK: Yes.

WILLIS (voice-over): Prices in Manhattan have risen 20 percent in the last year. And the Big Apple is not the only city overheating. Some 66 metro areas posted double-digit price increases this year, and many of them are in unexpected places, like Bradenton, Florida, a baby-boomer retirement mecca, where prices spiked 45 percent. West Palm Beach and Boca Raton make the top five list too.

The boom is making it tough for middle-income Americans to land a home. Joint Center for Housing Studies at Harvard University says, 25 percent of middle class home owners, that's 9.3 million, are spending more than they should on housing. Take a look at this home on the market for $989,000 in Chicago's exclusive Lincoln Park. For the money, you get three bedrooms, two baths, and 2,500 square feet of space. But if you want a garage, you'll have to go elsewhere.

Don't look for easy pickings once you retire, either. This Miami condo on the market for $1.1 million has ocean views, but with just 1,400 square feet of space, it will be tough to accommodate the grandkids.

One house on the list delivered value for the money.

DAVID D'AUSILIO, REMAX REAL ESTATE BROKER: Well, Gerri, this is what $1 million buys you in Monroe, Connecticut.

WILLIS (on camera): It's pretty nice. Let's take a look.

D'AUSILIO: Absolutely.

WILLIS: So this is a pretty nice kitchen.

D'AUSILIO: Beautiful. The homeowners here did a lot of custom work, including the cherry cabinets. Beautiful granite counter tops and as you can see, gourmet Wolf Range with hood.

WILLIS: Very high end and naturally the sub zero.

D'AUSILIO: High end appliances throughout.

WILLIS (voice-over): Four bedrooms, 3.5 baths, 3,800 square feet on one acre of level land. Price tag, $979,000.

But even here, where values appear to be better, D'Ausilio says the market has gone too far. This man, who makes his living selling homes, is a renter.

D'AUSILIO: We decided to rent for a few years. We think this housing market's going to cool down a little bit, and we'll be able to find a better value perhaps 24 months from now.

WILLIS: Experts warn, in the metro markets, where prices have gone up the most, prices could fall, and fall hard. That means, for some people, they could end up owing more than the house is worth if they had to sell.

In most of the rest of the country, though, the likelihood is that prices might flatten, but not collapse.

Gerri Willis, CNN, New York.

(END VIDEOTAPE) WHITFIELD: Well, how do you know if the housing market where you live is heading for trouble? Rajeev Dhawan is director of the Center For Economic Forecasting at Georgia State University and he joins me now to look for some of the signs.

So, why suddenly all of this talk about the bubble and whether this bubble is going to burst?

RAJEEV DHAWAN, GSU ECON. FORECASTING CTR.: Well, there's a lot of talk in the media, if you see the latest "Fortune" magazine the whole thing was about real estate, and everybody is talking about. You get the stories from friends and relatives, I flipped the house, made the money. All of the sudden, everybody's talking about it and here we are talking about it.

WHITFIELD: And here we are. So it seems as though there has been a rather gradual increase in, you know, the median price of a home. We said at the top of the piece, over $200,000 for the median price of a home and we're seeing a lot more $900, 000, $1 million properties and people are getting creative loans in order to get into the properties. Is this what is at the root of part of the problem?

DHAWAN: Partly. When the lenders are willing to loan you 100 percent, interest-only loans for 30 years, or 40-year loans that are coming about, then of course a lot more people can afford bigger houses. And places -- coastal markets like Miami, L.A., New York, they have an influx of immigrants, especially Miami. You have Venezuelans and Argentineans coming over, fleeing their country with a lot of money and trying to buy houses.

WHITFIELD: And in a lot of cases it's just investment purposes too for a lot of the foreigners who are buying the Florida properties.

DHAWAN: Yes. They want to have a second home. They want to live over here. It's OK for them. The trouble is when you and me, the average middle class, says, he you know what, we didn't make any money in the stock market in the last four years, maybe this is our next ticket. Maybe if we flip a few houses we can make also make money like the speculators. The answer is no. Speculation by definition is risky. A lot of people will lose their money. But those who survive will make the big money.

WHITFIELD: And lose the money potentially if you flip the houses, because you're buying homes that are at a fairly high price and it's expected that or it's possible that within months or even years, suddenly that median price or market value will suddenly drop and you then end up owing more than it's actually worth. Is that what's going on?

DHAWAN: Yes, it's the bursting of that boom, when the prices moderates. But there's another thing that happens. When everybody buys it for investment, there's no buyer. There's only sellers at that point. So, that can also happen. And also you can have one-off events like what happened in California in the early '90s, the aerospace industry totally went away, a quarter million jobs lost in a couple of years. WHITFIELD: Yes.

DHAWAN: That started the crash in the housing market over there which went on for three or four years. The idea is that no matter what happens, Houston, New York, L.A. within five to seven years you will come back to the same old price, even if we have a big crash. So, the issue would be people should buy houses based upon their housing need, not for investment purposes. Leave that game for the speculators.

WHITFIELD: So, what do you advise for the person who now is in that home, may have a very large mortgage, perhaps they have that interest interest-only kind of loan. Are you suggesting they need to refinance, they need to unload that house all together? What do they do? What are they're options?

DHAWAN: If they have a job, and they're going to be working and living in that area, try to live there for five to seven years so that you can recover any problems that happen in the housing market. And also in between, pray that your boss gives you a big raise.

WHITFIELD: Hope -- got the fingers crossed, hope for the big raise. All right, Rajeev Dhawan, good to see you.

DHAWAN: Thank you, Fredricka.

WHITFIELD: Well, from fatigues on the battlefield to suits and ties in the board room. Ex-military applying their skills learned in combat to corporate America.

And this...

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: He believed in the goodness of his country and his people. And he stood up for that, to the moment he was killed.

(END VIDEO CLIP)

WHITFIELD: Honoring the fallen troops of our nation, this Memorial Day weekend, the story of Patrick McCaffery, when CNN LIVE SATURDAY returns.

(COMMERCIAL BREAK)

WHITFIELD: They've placed their lives on the line, on the warfront. Now some veterans are using the skills they learned in combat in a different arena -- here at home. Kathleen Hays takes a look at the move from the battlefield to the board room.

(BEGIN VIDEOTAPE)

KATHLEEN HAYS, CNN CORRESPONDENT (voice-over): Operation Iraqi Freedom, starting summer, 2003. The Lieutenant Colonel Al Ahuja commanded an infantry battalion in Mosul, fighting insurgents, rebuilding the city. Now, after 20 years he's leaving the army. His new priority, his family.

LT. COL. AL AHUJA, SEEKING CORPORATE JOB: I have a 3-year-old. I haven't been here for her first few birthdays.

HAYS: And his career. He's setting his sights on corporate America and what he's selling, above all is a lifetime of leadership.

AHUJA: It's something that you can't get at a university. It's something that you can only get with experience and opportunity. And I think the army provides opportunity every single day to build and develop your leadership skills.

HAYS: An estimated 250,000 people leave the military each year, according to "G.I. Jobs" magazine and about 15 percent of these are officers. Military head hunters say the skills of these men and women are on par with those of senior executives at top corporations.

ALEX POWERS, CEO, MA3 LLC: They're great at team building. They're disciplined. They're highly educated. They're very well- trained. And basically, they are -- for years they have managing people, resources, and equipment.

HAYS: That's why some companies actively recruit them, like Home Depot, Sprint, and Global Powerhouse, General Electric. Air force veteran Susan Kratch has worked at GE for two and a half decades. She says former military officers have helped GE cut costs, boost quality and open new markets around the world.

SUSAN KRATCH, MILITARY INITIATIVE MGR., GE: Where other people have failed before, these people seem to be able to conquer the mission and achieve the objectives.

HAYS: But she says they were not always welcome in corporate America.

KRATCH: When I got out of the Vietnam experience, people, when we left the military, were told don't tell anyone you were in the military.

HAYS: Al Ahuja says talent for managing and motivating all kinds of people make him a perfect candidate for a job in retail distribution. And he is frustrated that some companies can't look past his lack of specific industry experience, because he's certain he has what it takes.

AHUJU: I'm new, full of fire, I want to bring some energy to your organization, and I know I can do well. Give me a chance.

HAYS: Companies who fire former military officers say it's more than a smart business move.

(on camera): They say it's a way to say thank you, and to give something back to those who have given their service to their country.

Kathleen Hays, CNN, Ft. Campbell, Kentucky.

(END VIDEOTAPE)

WHITFIELD: Helping those left behind after the death of a loved one in combat. Next on CNN LIVE SATURDAY, a program that offers outreach counseling and hope for grieving families.

But first, he spent more than two days in a crane high above Atlanta. What it took to bring a suspected killer down when CNN LIVE SATURDAY continues.

And surviving a volcanic eruption. One man's incredible story of how he and a friend took on Mt. St. Helens and lived.

(COMMERCIAL BREAK)

WHITFIELD: Here's what's happening now in the news. Former President Bill Clinton is continuing his tour of tsunami-ravaged parts of southeast Asia. that's the word from his former White House chief of staff. An earlier published report says a tour of the Maldives was scrapped because Clinton was suffering from exhaustion. His folks say that's not true.

It's graduation day at the U.S. Military Academy at West Point, New York. The class of 2005 entered the academy just weeks before the 9/11 attacks. Ironically, there were exactly 911 graduates today. About 70 percent of the new second lieutenants are expected to serve in Iraq and Afghanistan within one year.

Two bombs ripped through a marketplace on an Indonesian island today. At least 20 people were killed and 53 others wounded. The bombs went off 15 minutes apart, the second explosion, much larger bomb, apparently, took place as people were rushing to the scene to help the victims of the first attack.

Here in Atlanta, a murder suspect who spent more than two days atop a construction crane, is now in custody, awaiting charges. The standoff came to an end early this morning.

CNN's Catherine Callaway, has more on the suspect and how his capture went down.

(BEGIN VIDEOTAPE)

CATHERINE CALLAWAY, CNN CORRESPONDENT (voice-over): It's a bizarre story that began in Pinellas County, Florida, and ended 350 high atop a crane in Atlanta, Georgia. On Tuesday, Florida authorities find a badly beaten body of 36-year-old Jennifer Gonzalez in a retention pond behind this apartment complex near Tampa. A day later in Atlanta, a man forces his way past construction workers, and climbs onto the arm of a crane, perched 25 stories high. His I.D. falls out of his pocket, that's when police realize this was the man, 41-year-old Carl Edward Roland, wanted by Florida officials in connection with the death of his ex-girlfriend, Jennifer Gonzalez.

Roland remains on the crane, refusing to eat, drink or talk with negotiators, and shutting down part of the busy Buckhead area for 57 hours, until 12:30 a.m. Eastern time Saturday, when Roland agrees to take a drink of water from a negotiator on the crane. Roland is tackled, tasered and handcuffed. He was strapped to an orange backboard and hoisted down the side of the crane. Roland was taken to a local hospital for treatment of dehydration. Officials credit negotiator Vincent Velasquez (ph) for the safe ending.

CHIEF ALAN DREHER, ATLANTA POLICE: They developed a repertoire. And over a period of time without food and water his -- his physical condition deteriorated. And so, through his negotiations, he was able to entice Mr. Roland into a position where we could affect a tactical solution.

CALLAWAY: Roland's family had been critical of how the police handled the situation. This morning, they were happy it was over.

JOHN ROLAND, SUSPECTS BROTHER: It's a long, tall mountain we've got to climb, but we're going to climb that together.

CALLAWAY (voice-over): Roland will remain here at Grady Memorial Hospital. When he's released, he'll be transferred to the Fulton County Jail, where he will face charges here in Atlanta. He will then be extradited to Florida on murder charges.

Catherine Callaway, CNN, Atlanta.

(END VIDEOTAPE)

WHITFIELD: All week we've been taking a look at survivor stories, people who managed to escape potentially deadly situations.

Well, some boaters in Washington D.C. could be included in that group. Between 20 and 30 people had to be rescued today from the chilly waters of the Potomac River to after their boat overturned in the stormy weather. They were taking part in the city's annual Dragon Boat Festival. None of them were seriously hurt. But officials say, some of them were suffering from hypothermia.

And now an amazing story of survival that happened decades ago, but is still fresh in the mind of the man who experienced it. A young man who found himself in the middle of a massive mud slide brought on by the eruption of Mt. St. Helens back in 1980. Now 25 years later, he returns to the site of that disaster and recounts his terrifying ordeal to CNN's Peter Viles.

(BEGIN VIDEOTAPE)

PETER VILES, CNN CORRESPONDENT (voice-over): This is the spot where Roald Reitan was sure he would die 25 years ago. In fact, he asked for death.

ROALD REITAN, SURVIVED ERUPTION: If it's going to kill me, I'm saying, "Just do it." You know, "Get it over with."

VILES: It started as a romantic camping trip, 19-year-old Roald, his girlfriend, Venus Dergan. True, Mt. St. Helens was acting up, but nobody thought this area was at risk.

(on camera): How far are we right now from the mountain itself?

REITAN: Forty-six miles as you go on the highway.

VILES: Forty-six miles. So you're way in the safe area.

REITAN: Oh, yes.

VILES: Yes.

REITAN: I mean, I figured...

VILES: At least you thought you were.

REITAN: Yes. I mean, so did the scientists and everybody else.

VILES (voice-over): But on Sunday morning, May 18th, 1980, the peaceful river told violent.

REITAN: When it was rumbling around the corner, it sounded like a monster coming through the forest.

VILES: The monster was a river made of mud, ash and trees, a killer mudslide.

UNIDENTIFIED MALE: All units in the area, we have a report of a mud flow 300 feet deep.

VILES: In an instant, it swept away the two teenagers.

REITAN: I told Venus to jump. I said, "Jump." You know, then we jumped. And I landed on a big log like you ride a horse, just -- and she went just right in between two of them, and she was gone.

VILES (on camera): She went under?

REITAN: Yes. It's like, I mean, gone. Like, you know, she was next to me one second when we jumped, and when I hit a log, you know, I looked at her, I just saw her go right in between two of them. And I thought she was dead for sure.

VILES: Right.

REITAN: You know, and I thought I was going to be dead, too.

VILES (voice-over): Somehow, Roald steadied himself. Twice, he grabbed his girlfriend, but twice the river took her back.

REITAN: Fear's ebbing from me, and now I'm getting mad. I mean, I'm really getting mad, because it's like, you know, I found her twice. It's like -- and it's taking it away from me. It's like, no way.

VILES: The third time he held on.

REITAN: She was freezing. And I grabbed her by her shoulders and her hair, and I pulled her out of it, all the way out. You know, and I was telling myself, "There's no way I'm going to let her go."

VILES: He held on for half an hour, fighting their way out of the torrent of mud.

REITAN: When we got out of it, the ordeal wasn't over. You know what I mean? Basically, the worst part of it was when we got out, because we had to walk all the way back.

VILES: They stumbled in the woods for hours, rescued at least by helicopter. And only then did the pilot reveal to Roald what had caused this epic mudslide.

REITAN: He looked at me and he goes, "You want to see what almost killed you?" And I said, "What?" And that's when I saw it. The mountain, oh, yeah, and it just like -- like a surreal steam engine, I mean, just the smoke going straight up.

VILES (voice-over): In an instant, Mount St. Helens had blown apart in a massive eruption that killed 57 people, flattened huge forests, and created deadly mud flows. Roald's girlfriend, Venus, survived, but her injuries were severe. She couldn't walk for three months.

REITAN: She doesn't really like to come down here, you know, and I don't blame her, you know. Because what, you know, her injuries were worse than mine, really, they were. Her ordeal started when she got to the hospital. Because all her abrasions and everything had to be scrubbed with a brush to get the volcanic ash out of her skin.

VILES: Roald and Venus are still friends. The river that almost killed them is peaceful again.

REITAN: Just like it was yesterday. I can close my eyes and relive it every second of what happened.

VILES: Peter Viles for CNN, Toutle, Washington.

(END VIDEOTAPE)

WHITFIELD: So what's going on with Mt. St. Helens now? You might recall last fall the volcano began emitting steam. And as recently as March a plume of smoke and ash spewed nearly seven miles in the air. The volcano has quieted, but scientists are still monitoring it constantly. And because of that monitoring, local officials have reopened part of a highway near the volcano that had been kept closed at night for safety reasons.

We are remembering military veterans during this Memorial Day weekend. At a time when heroes were needed, they answered the call. Many sacrificing their own lives so that others could live in freedom. Among them, Sergeant Patrick McCaffrey. His love of children and his commitment to duty led him to Iraq.

(BEGIN VIDEO CLIP)

NADIA MCCAFFREY, PATRICK'S MOTHER: The day he decided to enlist, the day after 9/11, he didn't thought a second that he would be one day be deployed to Iraq and end his life there. Patrick was the first combat death in 58 years, the first soldier, national guard to be killed in action in 58 years from California. He believed in the goodness of his country, and his people, and he stood up for that. To the moment he was killed. He was attacked by both sides of his body through his vest, and even wounded, he run to the other soldier, to make a shield of himself.

This picture is the one that was taken 40 minutes before his death. And the flowers that he have, that he's holding were given by the children. He also, I'll show you after, took a picture at the same time of a little girl from the Humvee that was giving him a big flower that he later would have in his hand, holding her little brother and that says it all. And he would say to us, you know, he called everyday and he would say to us, "the children are my light."

I think the gesture that we did, not just we, but the other parent, mothers, to go and meet with other parents, and give the humanitarian aid of $600,000 for the children of Fallujah, that -- this was the most important thing really. The children didn't start the war.

We all remember the day Patrick left for Iraq, the whole family does. He was a very cheerful person. He had a smile practically all the time. He left to the plane -- walking to the plane with a big smile on his face, waving at us. That's the way we will remember him. The way Patrick came home was in that coffin -- with a flag on it. And that's the way I want my country to remember Patrick's coming home.

(END VIDEO CLIP)

WHITFIELD: We will remember another fallen soldier later this hour. He was a teenage private who died with the American flag on his shoulder, and he wasn't even a citizen of the United States. And helping hands for families of soldiers killed on the battlefield, outreach for grieving families ahead on CNN LIVE SATURDAY.

(COMMERCIAL BREAK)

WHITFIELD: Memorial Day weekend, a time to honor those who've lost their lives serving their country. And also a time to remember the children, who's -- who those brave men and women have left behind. Many of those children are very young, and find it extremely difficult to cope after losing their parent.

CNN's Kathleen Koch reports on a special camp in Virginia that's trying to help with their recovery.

(BEGIN VIDEOTAPE)

UNIDENTIFIED FEMALE: He'd do pushups and we'd all get on his back. And he'd pick us up. He'd go up and then down and up and down.

KATHLEEN KOCH, CNN CORRESPONDENT (voice-over): Memories of a father no longer alive. Memories military children feel safe to share at Good Grief Camp.

UNIDENTIFIED MALE: What do you miss now -- because that's (INAUDIBLE)?

UNIDENTIFIED FEMALE: I never got to know him.

KOCH: The Virginia program pairs children who've lost a loved one with a military mentor, some who've seen their own parents die in military tragedies.

MICKI KUZEWSKI, MENTOR: So, I had to step up and kind of take over and really be there for my mom. And whatever you guys do, don't ever lose your youth. Just enjoy it while you can.

KOCH: Airman First Class Mickey Kuzewski's father, Michael, died in 1996 in a helicopter crash collision at Camp Lejeune.

KUZEWSKI: I wanted to touch another child's life, and really help them out and guide them through the process of grieving.

UNIDENTIFIED MALE: He was going to bomb this building and when he did a piece of metal got right in here and it got into things so they couldn't take it out.

KOCH: Micki was paired with Patricia Latham, whose father, William, died two years ago after being wounded in Iraq. And with Torre Hall (ph), whose Father Kelly (ph), died in 1998 in a plane crash in Germany.

PATRICIA LATHAM, GRIEF CAMPER: It's good to cry. It's not -- I'm not ashamed of it. Because if you keep it all bundled up, then eventually it's going to come out some way that you don't want.

KOCH: But the camp is about more than grieving. They learn how to support one another.

Kathleen Koch, CNN, Washington.

(END VIDEOTAPE)

WHITFIELD: News around the worlds now.

A four-day manhunt is over in Colombia for a right-wing paramilitary leader and accused killer, Diego Fernando Murillo, a reputed warlord is wanted in last month's killing of a state Congressman. His surrender could help salvage peace talks between the government and illegal militias.

Out and proud, hundreds of people turned out for Romania's first ever gay pride parade today. Marchers waved rainbow flags, they carried banners reading "Don't discriminate." Homosexuality was a crime in Romania until four years ago.

A much different celebration is taking place in Armenia. About 150,000 people joined hands and danced on the nation's highest mountain today. The show of unity was to commemorate the country's founding 87-years-ago and other historic events.

Well, straight ahead, Carol Lin will continue our look at CNN LIVE SATURDAY.

What's on tap?

CAROL LIN, CNN ANCHOR: Well, on this Memorial Day weekend, we thought it'd be interesting to talk to some of the soldiers who are actually writing about their war-time experiences from the front line. They started their own blogs and I've got someone, Chris Masica (ph), a 24-year-old who just came home from the battlefield and his memories. Writing from the front lines were so compelling and so personal and apparently very popular thing to start.

At 10:00 tonight in our prime time show, I'm going to be talking about the Cleo Awards. We're going to show you pictures of one of our favorite ad. This was so great, two men holding hands, running through a field of flowers to the Bee Gees. Conjures up a image, that though, it's a surprising ending when you find out what it is. But we'll also show some of the other winners, and we're going to show some of the clips, which are really the most fun.

WHITFIELD: Yes, and that's a lot of fun. Look forward to that. Thanks, Carol.

LIN: Thanks, Fred.

WHITFIELD: All right. Well, coming up, a deeply personal story of loss.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: He was in the middle of nowhere. It was raining, you see here, and he was smiling, no matter what, he was happy all the time.

(END VIDEO CLIP)

WHITFIELD: A teenage boy one day, a proud military man the next, Private Diego Rincon gave his life to a country of which he wasn't even a citizen.

(COMMERCIAL BREAK)

WHITFIELD: Many of the troops in Iraq enlisted after the September 11th attacks. And as we honor those killed in the line of duty during this Memorial Day weekend, the father of one such soldier pays special tribute to his son.

(BEGIN VIDEO CLIP)

GEORGE RINCON, DIEGO'S FATHER: He was ready to go to the home homecoming. And I was (INAUDIBLE) because, obviously he was my big boy, you know. That's Diego right there. And there's a picture of my baby in his beautiful uniform. I mean, he's my baby big time. I miss Diego. One day he was playing Nintendo, the next day, he was in the middle of the war. 19-years-old, they are not ready to do things like this. They are (INAUDIBLE). Wants to have fun. But Diego, no, Diego was doing something for everybody in this country.

UNIDENTIFIED MALE: I Diego Fernando Rincon do solemnly swear.

PCF. DIEGO FERNANDO RINCON: Do solemnly swear.

RINCON: He decided to go into the army because after what happened September 11th, you know, (INAUDIBLE) changed his life, I think. He said, "Dad, I have to do something for my country. It's my country to defend." It's nothing -- I don't want to be here, sitting around waiting for somebody to kill us here, you know? He was in the middle of nowhere. It was raining, you see here, and he was smiling. No matter what, he was happy all the time and you know why he was happy all the time? Because he was in there for you, America, for us, and for everybody.

This is Diego Rincon right here, see the face right here. I was asking why don't you go to into the army and be in the kitchen. He said, No, let me go up to be in the front. I said, no. I need to be -- I want to be with the best ones. Coming to this country, giving everything, not even being a U.S. citizen and giving his own life for this country was -- only heroes do that, you know. And he died with Diego the same day. But no matter what, I'm strong. I'm going to be OK.

I don't want to take my son out of the picture out of my life. He's going to be in my picture of my life forever. And I pray for every single family in Iraq. And not only that, because they desire to leave a free life free -- life and they deserve to help other (ph) country, like we have here in the United States. For me, every single red color in the flag is the blood of my son. This is not for free. We paid for this. And we paid this big time, you know, only to give some people a nice country to live.

(END VIDEO CLIP)

WHITFIELD: Born in Colombia, Rincon was not a U.S. Citizen when he was killed in Iraq. He was awarded the honor, however, posthumously. That's going to do it for this hour of CNN LIVE SATURDAY.

Straight ahead, "PEOPLE IN THE NEWS", profiling the most wanted terrorist in Iraq of Abu Musab al-Zarqawi.

Then at 6:00 Eastern, Carol Lin with the story of military bloggers trying to record the real life stories of soldiers in the Iraq War.

And 7:00 Eastern, it's "THE CAPITAL GANG," talking action in Congress this week from John Bolton to stem cells. And I'll be back in a few minutes with this hours headlines.

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