Despite what the stock market might be showing, Toll Brothers, a luxury homebuilder, has a rather bullish view of the economy and where it is headed.
Due to six consecutive quarters of year-over-year growth in the industry, attractive interest rates, home values that are on the rise, and unemployment being at its lowest since 2008, Toll Brothers believes while there won’t be explosive growth, there should be a steady upward trend in the housing market.
According to Business Insider, it isn’t that the economy is worsening, but that there are pockets where it is too strong. With the labor market having less of a surplus, it has become harder for builders to find enough workers to construct homes quickly.
Toll Brothers CEO Douglas Yearly believes there is reason for optimism for the spring selling season and that the homebuilding industry will continue on a trajectory of slow but steady growth.