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- We Went Too Far And Too Wide
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Some housing bubble news from Wall Street and Washington. Dow Jones, “When it released its preliminary second-quarter operating results early Monday, Hovnanian Enterprises Inc., one of the nation’s biggest builders, detailed more pain to come. The much-watched cancellation rate improved slightly - to 29% of gross contracts, from 32%. Hovnanian’s home deliveries fell 21% year over year, and officials estimated the company would take between $225 million to $275 million of land-related pretax charges, a jump from the first quarter’s $94 million.”
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Original Source: thehousingbubbleblog.com
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5 May, 2008| housingblogs |
@ 19:35