If you're crossing at a crosswalk when the light says to walk, then you as the pedestrian always have the right of way. However, if you're jaywalking, as in crossing in the middle of the busy street, it's not only illegal and can be subject to a fine if caught, but dangerous as well as the drivers might not see you and slow down in time.

I'd say the cars have the right of way here, mostly because there's no crosswalk.