Home sales cut into builders' profit, Hovnanian says

Homebuilders concerned with cash flow are selling homes for less profit as the U.S. housing decline deepens, Hovnanian Enterprises Inc. Full Story
Gracia Mericle

Charlotte, NC

#1 Feb 21, 2008
In rely to the Hovnanian item, I was employed by K. Hovanian for over 7 years. On a November Wednesday I was given a glowing review for my work and on the next day, Thursday, I was given the news that I was included in a 14 person lay off! So much for being told I was a valuable employee. The Charlotte, NC office has had 2 additional layoffs and is down to 5 employees. Oh well, I am enjoying not working---maybe I can even visit Westhope this summer if the price of gas does not go way high.

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