Thursday, September 13, 2007

Hovnanian home sale this weekend

or piece together:

These discounts are pretty impressive. (Not that I'm tempted). Any bets on how many they sell? I'm guessing a nice round 100 units.

My favorite quote from the article: "Skea said the sale would not be repeated, but an industry observer was not so certain."

As much as it is cheesy marketing tactics, do understand builders have to try to survive. If this marketing helps... so be it. I'm tired of trying to warn the sheeple; just good luck finding enough who qualify for the mortgage! ;)

This is just more knife catching.

Read this article (hat tip Sacramento landing):


Look at the last table. Of the New Jersey/New York/Long Island home owners 21% are paying over 50% of income towards their housing. That is unsustainable.

Then look at the bay area at 23% and LA at 24%. Look at how much money the central banks are pouring into the banks (per below $383 Billion in August, an unprecedented amount).

Upping Freddie and Fannie's limits just will not do much. Foreign banks/hedge funds/governments are going to want reasonable security in their investments. We could make it bad enough that the GSE's cannot sell bonds... Oh wait... now when was Fannie's last Auction... Hmmmm...

And I'm sure J6P is happy oil is now over $80/bbl. Good grief! How are the airlines (an industry I love to follow) going to survive? Sigh... :(

Got popcorn?


Omar Cruz said...

These articles are fantastic; the information you show us is interesting for everybody and is really good written. It’s just great!! Do you want to know something more? Read it...: Great investment opportunity in Costa Rica: jaco beach real estate, map jaco beach, hotel in jaco beach costa rica. Visit us for more info at:

Anonymous said...

Costa Rica is a country with a extremely sense of freedom. The landscapes are for much the most green in whole center america.The chances of investement are way to high, the average of Americans, European and people of the entire planet who is buying here is up in the sky !!!
Great investment opportunity in Costa Rica: costa rica for retirement, properties in costa rica, costa rica land for sale. Visit us for more info at: