Those Were The Days My Friend
On the eve of William Pulte's retirement from homebuilding, after googling his name and finding what seems like one hundred hits repeating the story that he retired, we find this little historical gem from USA Today;
Stephen Kim, analyst for Citigroup Smith Barney, says Pulte has slightly outperformed other public home builders. "The company is among the most diverse in the country," Kim says. "Not only are they one of the largest, they have a very good geographic spread and a broad portfolio of products ... they'll build entry-level houses, and they'll build luxury, but they'll also build empty-nester-type communities."
New home market continues to thrive
Kim has upgraded Pulte and other public builders from hold to buy, despite worries the housing market might be overheated. He expects the existing-home market to take the brunt of any hit if the market cools.
"I've heard for the last seven or eight years this is the last, best year in housing, and it's going to fall apart," says Dugas, who argues the market is being driven by population growth, immigration, a demand for second homes and scarcity — not just low mortgage rates.
Congratulations to Mr Pulte, whose lifetime of work has earned him a place among the USA's billionaires.