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Welcome to CNN Radio News Day.
* Today the so-called "gang of eight" in the Senate unveiled a bipartisan immigration proposal. It calls for an effective employment verification system and offers a pathway to citizenship for many of the estimated 11 million immigrants who are already in the U.S. illegally. New York Democrat Chuck Schumer:
"Other bipartisan groups of Senators have stood in the same spot before, trumpeting similar proposals. We believe this will be the year Congress finally gets it done."
* Experts say New York City is experiencing the worst homeless crisis since the Great Depression of the 1930's. More than 48,000 people spend the night in an NYC shelter each night. A right to shelter law in New York means the city has to find homeless families a place to stay. Patrick Markee with the non-profit Coalition for the Homeless, says there's got to be a better solution:
"It costs 36,000 a year to shelter a homeless family in New York City. In comparison, a rental voucher is $10,000 a year. So it’s more than three times more expensive to have that family in shelter than it is to give that family permanent housing."
* Many analysts say the housing market is finally ready for a big year. In fact, just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. CNNMoney Senior Writer Chris Isidore says the supply of homes on the market is tight, mortgage rates are near a record low and prices have started to rise at a decent clip:
"All those things are helping to bring buyers into the market who had been waiting nervously, not wanting to jump in until they saw some signs of a turnaround."