NAPLES, Fla. — Housing and construction are hot topics in Southwest Florida these days, especially with all the recent changes—think tariffs and shifts in immigration policy—that are impacting the industry.
Fox 4 Anchor Amy Wegmann had a chance to sit down with Russell Budd, the longtime owner of PBS Contractors, a family-run business that really knows its stuff when it comes to residential and commercial construction:
PBS Contractors is all about high-end custom homes and renovations.
Budd proudly said, “We do a lot of single family home renovations.”
He’s come a long way, but his journey hasn’t always been a smooth ride. He started off in construction before he even finished college.
“Every job I had in college was in construction,” he shared, recounting his hands-on experience as a concrete framework carpenter and even a tile setter's helper.
I couldn't help but joke that with his wide range of skills, he must have a hefty "honey-do" list at home. He laughed and agreed, “Yeah, yeah!”
Despite feeling good about the housing market in Southwest Florida, Budd is keeping a close eye on broader policy changes that could affect his business.
He expressed his concerns about tariffs looming on the horizon, saying, “I think inevitably, there will be tariffs.”
The proposed tariffs, which range from 5% to 25% on certain materials, or in some cases certain countries are a source of anxiety for his customers.
“Right now, all the tariffs mean to our business is it creates anxiety,” he explained.
While his luxury home clients might be able to absorb these costs, Budd is particularly worried about first-time home buyers.
“Certainly those that will be most affected are going to be your first-time home buyers,” he pointed out.
Immigration policy is another issue weighing on him. Budd's business relies on a diverse workforce, particularly a robust Hispanic community. While he affirmed that PBS Contractors complies with federal regulations and that they’re not aware of any undocumented workers, he noted that recent immigration changes have left employees on edge.
“They all have families, and within those families, I don’t know what their circumstances are, but not everybody is necessarily fully processed,” he said.
The uncertainty creates a lot of fear, even for those who are legally employed.
Despite these hurdles, Budd's optimism about the housing market and the economy in Southwest Florida shines through.
His advice for potential homebuyers? Stick with the classic wisdom: “If you can qualify to buy a home, I always like—and it worked well for me—where I am investing in my own equity.”
PBS Contractors will be at Florida Gulf Coast University for the annual Resnick-Wynn Family Business Conference. It’s a great opportunity for local business owners to connect and exchange ideas, especially when it comes to tackling the unique challenges that family-owned businesses face.
This year’s keynote speaker is Jeremy Siegel, a well-known author, economist, and finance professor at the Wharton School at the University of Pennsylvania.
