Hovnanian claims 2100 sales during 3-day sales event

[HappyHouseHunting]

“Donald R. Horton, Chairman of the Board, said, ‘Market conditions remained challenging in our December quarter as inventory levels of both new and existing homes remained high while pricing remained very competitive. Lending standards continue to be more restrictive than during the previous year, and buyers continued to approach the home buying decision cautiously. We expect the housing environment to remain challenging.’”

“The Company’s cancellation rate (cancelled sales orders divided by gross sales orders) for the first quarter of fiscal 2008 was 44%.”

It keeps getting better and better.

[cr]

giantveggie – welcome.

That link was simply one of the first links I came across and I thought it was ironic. I have no opinion on the quality of their homes, simply an opinion that prices are still overpriced.

I find it comical that Hov blames tighter lending standards for homes not selling – hard evidence that the record number of high volume sales (and inflated prices) was only due to loose lending – however, aren’t these the standards that should have been in place all along?

[cr]

giantveggie – welcome.

That link was simply one of the first links I came across and I thought it was ironic. I have no opinion on the quality of their homes, simply an opinion that prices are still overpriced.

I find it comical that Hov blames tighter lending standards for homes not selling – hard evidence that the record number of high volume sales (and inflated prices) was only due to loose lending – however, aren’t these the standards that should have been in place all along?

[cr]

giantveggie – welcome.

That link was simply one of the first links I came across and I thought it was ironic. I have no opinion on the quality of their homes, simply an opinion that prices are still overpriced.

I find it comical that Hov blames tighter lending standards for homes not selling – hard evidence that the record number of high volume sales (and inflated prices) was only due to loose lending – however, aren’t these the standards that should have been in place all along?

[cr]

giantveggie – welcome.

That link was simply one of the first links I came across and I thought it was ironic. I have no opinion on the quality of their homes, simply an opinion that prices are still overpriced.

I find it comical that Hov blames tighter lending standards for homes not selling – hard evidence that the record number of high volume sales (and inflated prices) was only due to loose lending – however, aren’t these the standards that should have been in place all along?

[cr]

giantveggie – welcome.

That link was simply one of the first links I came across and I thought it was ironic. I have no opinion on the quality of their homes, simply an opinion that prices are still overpriced.

I find it comical that Hov blames tighter lending standards for homes not selling – hard evidence that the record number of high volume sales (and inflated prices) was only due to loose lending – however, aren’t these the standards that should have been in place all along?

[Author]

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