Doug Yearley: Housing Recovery May Take Longer

During an appearance on CNBC’s “Squawk Box,” Toll Brothers CEO Doug Yearley said the housing recovery is just in the “fourth or fifth inning.”

"Four years in, I would think the housing market would be further along. I think it means we're going to have a longer, slower recovery," Yearley said on the show.

Despite the slower-than-expected recovery, he described the overall condition of the housing market as healthy thanks to factors such as an improving economy and low interest rates.

Another topic discussed was the current state of suburban life. Home Depot Chairman and CEO Craig Menear, also on the show, agreed with Yearley that Millennials want suburban life later compared to past generations. They argued that the “death of the suburbs” has been “greatly overstated.”

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