mbborak

Hovnanian's CEO Foresees Housing Recovery

Good for a quick pop, nothing more. I expect people to get pretty excited about this tax refund, so we will probably see an uptick in home sales soon. After that, it depends upon the level of unemployment as nobody without a job (or fearing for their job) will think about buying a house.

A lot of those who speculated last year and thought they were buying at the bottom are now foreclosing and selling at a loss. I expect this to repeat a few times before a real bottom occurs, so this stock is either good for a short-term bounce or a long-term buy.