Economy Blog » Toll Brothers CEO Interview

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“I want to be bullish on the housing stocks, but I just can’t pull the trigger yet,” Jim Cramer told fans of his “Mad Money” TV show Tuesday. Cramer welcomed Robert Toll, chairman and CEO of Toll Brothers (TOL) to the show to discuss the housing market. Toll said the housing market could be saved if the government offered a similar plan to the one President Gerald Ford introduced in 1975. Ford gave homebuyers a tax credit as long as they acted before the end of the year. Toll thinks if Bush gave U.S. tax payers a $15,000 credit to buy homes the housing market would take off. Toll said he thinks the housing market could comeback after November’s general election. He mentioned that while most regions in the U.S. are in bad shape, he does see some strength in California and stabilization in Naples, Florida. He also said that Williamsburg and Hoboken, New Jersey are two of the best kept secrets in the housing market. Cramer said he can’t get behind the housing stocks here. He just isn’t sure if the housing market is back and feels it’s too early to make a move.
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