Doug Smith '85 Discusses Strong Housing Number with NBC

Doug Smith '85 Discusses Strong Housing Number with NBC

May 25, 2007

House Clip Art.gifMay 25, 2007, Greencastle, Ind. - "The key thing for our industry is to try and get supply and demand in equilibrium," Doug Smith, president of Virginia-based homebuilder Miller & Smith and 1985 graduate of DePauw University, tells NBC News. "By reducing the number of [housing] starts, it's really going to help long term on the recovery for the housing market."

Smith is quoted in a report that aired on this morning's edition of Today. In the piece, Diana Olick examines Commerce Department figures that show new home sales rose 16% in April, and the possibility that the strong showing signals an end to the cooldown in the housing market. 

"New homes make up just 20% of all homes for sale today, but they led the housing downturn," reports Olick. "So a sign that buyers are slowly coming back could be something to build on."

You can access video of the story by clicking here.