In a time where homeownership seems increasingly out of reach for many Americans, one billionaire builder is working to make homes more affordable. Tom Bradbury, 80-year-old founder of Smith Douglas Homes, has made it his mission to provide quality housing options at a price point that is accessible to a wider range of buyers.
The current housing market paints a grim picture for potential homebuyers, with mortgage rates reaching levels not seen since 2008 and home prices soaring by 30% nationally over the past four years. This, coupled with a shortage of at least four million housing units, has created a challenging environment for those looking to purchase a home.
Despite these challenges, Bradbury has found success with Smith Douglas Homes, having built 304 communities in five states since 2008. Sales for the company reached $765 million in 2023, and shares of Smith Douglas have seen a 56% increase since Bradbury took the company public on the New York Stock Exchange.
Bradbury’s vision for Smith Douglas Homes is clear – to continue as the “low cost quality provider of housing with choice”. By focusing on affordability without compromising on quality, Bradbury aims to make homeownership a reality for more individuals and families.
As the housing market continues to fluctuate and challenges persist for homebuyers, Bradbury’s commitment to affordable housing offers hope for those in search of a place to call home. With his ambitious goals and successful track record, Tom Bradbury is proving that it is possible to thrive in the face of adversity and make a positive impact on the housing market.
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Video “This Billionaire Builder Wants To Make Homes Affordable” was uploaded on 10/07/2024 to Dailymotion Channel Forbes