of privately held g.l. homes. >> we have obviously survived this obviously disastrous recession for our building industry. >> jeff: ezratti watched revenues at the homebuilder drop by 55% last year, and the number of homes that went to closing fell by 40%. but don't feel sorry for him-- g.l. has continued to build and grow through the worst real- estate downturn in a generation. >> we have three segments that we build: affordable for family, luxury for family, and active adult. the active adult people buy cash. they did not get hurt so much by the economy, and prices are down, so people are buying. >> jeff: we all know the reasons to say "come on!" after all, hundreds of billions have been lost in the real estate market, the stock market. 401(k)s were turned into 201(k)s. who's buying? ezratti says many middle-class workers were priced out of his family-oriented subdivisions. now, those with secure jobs, like government positions, are taking advantage of the lower prices. and this subdivision, aimed at acti

g.l.'s founder gavus an insider's ok at how the firm survived the housing bust, a whate's going through now. >> jeff: this is a rarsight these da-- a subdivision being turn from paper plans into reality: new roads... new sidewalks... new homes. and it's where y're likely to run to itchko ezratti, founder and c.e.o. of ivately held g.l.omes. >> we havebviously survived this oiously disastrous cession for our building industry. >> jf: ezratti watched revenues at the homebuildedrop by5% last year, and the number of homes that went to closg fell by 40%. but don't feel sorry f him-- g.l. has continuedo build and ow through the worst real- tate downturn in a generatio >> we ha three segments that we build: fordable for family, luxury for family, a active adul the active adu people buy cash they did not geturt so much by theconomy, and prices are down, so peoe are buying. >> jeff: we all ow the reasons toay "come on!" afr all, hundreds of billions have been lost in e real estate market, the stocka