CNBC's Jim Cramer sits down with Taylor Morrison Homes Corp.'s CEO Sheryl Palmer, who sees a surge of interest among millennials in home ownership.
The number of new housing starts has surged in recent months, and the trend is being powered in part by an unlikely bunch — millennials, Sheryl Palmer, CEO of home builder Taylor Morrison, told CNBC on Thursday.
Consumers are “changing their relationship with homeownership” and it’s evident in the increase of the number of people who are saving, she said in a “Mad Money” interview.
“People are feeling good, and their confidence is absolutely showing in the real estate market, and that’s not even to mention the demographic tailwinds we have with how the millennials are feeling about buying their first or second house, and certainly the boomers,” Palmer said in a sitdown with Jim Cramer.
Taylor Morrison, which has operations in eight markets including California, Georgia, North Carolina and Illinois, last week announced that it saw a 30% year-over-year increase in housing orders for the months of July and August. Palmer credits lower interest rates and cheaper mortgages for the boost in demand.
