A newspaper article in the fall of 2007 stated, the luxury-home builder Hovnanian Enterprises reported its fourth

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A newspaper article in the fall of 2007 stated, the luxury-home builder Hovnanian Enterprises reported its fourth consecutive quarterly loss on Thursday, citing continuing problems of credit availability and high inventory. Why was Hovnanian suffering losses? What does the article mean by "credit availability"? How would problems of credit availability affect a homebuilder such as Hovnanian Enterprises?
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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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