By Elizabeth Gurdus | CNBC
- Toll Brothers CEO Douglas C. Yearley, Jr. sits down with CNBC’s Jim Cramer for an exclusive interview.
- The CEO shares his take on trends in the U.S. housing market with the “Mad Money” host, including an interesting trend with millennial buyers.
Millennials may be frequently blamed for destroying industries like brick-and-mortar retail, but their habits aren’t exactly bad for homebuilders like Toll Brothers, the luxury construction company’s CEO told CNBC on Tuesday.
“We know they’re marrying later, so they’re buying homes later, but that also means they’re wealthier when they buy,” CEO Douglas Yearley told “Mad Money” host Jim Cramer in an interview.
CNBC reported in July that today, just 57 percent of first-time homebuyers are married, compared with 75 percent in 1985.
