Funny Business with Jane Wells

Fun Times for Home Builders?


It's a good time to be a home builder.

Before you rub your eyes wondering if you just read that right, let me explain.

It's a relatively good time to be a home builder, as buyers hurry up and sign contracts before Friday's deadline to qualify for a tax credit worth up to $8,000.

But what happens Saturday?

"That's the $64,000 question," says Joe Anfuso, CEO of Florsheim Homes, a private builder based in hard hit Stockton, CA.

Home Buyer's Tax Credit

I caught up with Anfuso at a development outside Palm Springs which he bought out of bankruptcy for about 30 cents on the dollar.

Half the homes are now under contract, thanks in part to the tax credit.

But how long until there's a real turnaround free of government incentives?

In my interview with him, I asked Anfuso about the state of home building, and what it will take for him to start hiring again.

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