(Reuters) - After the close of the market on Thursday, Hovnanian reported a fiscal second-quarter loss of $30.7 million, or 49 cents per share, which included about $34 million in pretax charges for land-related write-downs and impairments.
"We believe that the further slippage in housing demand in many locations was largely linked to the tightening of mortgage lending standards, particularly in the subprime market," Ara Hovnanian, the chief executive, said in a conference call with analysts.
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"We believe that the further slippage in housing demand in many locations was largely linked to the tightening of mortgage lending standards, particularly in the subprime market," Ara Hovnanian, the chief executive, said in a conference call with analysts.
Read more at Reuters.com Bonds News
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