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COPYRIGHT 2005 FDCH e-media
Original Source: CNBC/DOW JONES BUSINESS VIDEO
SUE HERERA, CNBC HOST: Housing bubble, what housing bubble? The Commerce Department says sales of new homes surged in February, up 9.4 percent, doubling analyst expectations. And one company reaping the benefits of that upward trend is D.R. Horton. It is one of the country`s largest homebuilders.
Joining me now is the CEO of D.R. Horton, Donald Tomnitz.
Mr. Tomnitz, welcome. It`s nice to have you with us.
DAVID TOMNITZ, CEO OF D.R. HORTON: Thank you, Sue. It`s good to be here.
HERERA: Your company is in an interesting space because you deal with both the entry-level buyer as well as the buyer who wants to move up, which incorporates a very large part of the economy. To what do you attribute the big jump that we`re seeing in home sales right now?
TOMNITZ: Well, clearly I think there is good demand on the demographic side. We`ve had 30 million immigrants over the past 30 years move in. There are whole host of baby boomers, 30 million people like I am looking for their last home or their second home.
And then we also have the 25 million echo boomers, whoa re people in their...
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