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Us Hovnanian Chief Says Housing Bottom Is `very Near'

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Guest grumpy-old-man

``The bottom is very near but I think its going to stay along the bottom for a while before a recovery,'' Ara Hovnanian said. :lol::lol:

I remember reading some quotes from various newspapers & emminent people in 1990/1/2, from this sites store of old newspaper articles, regarding the 1990's hpc. :lol:

also do a search for the 1929 depression, you should have seen some of the quotes from that era....some just days before the big one stating that all was well & the only way was up (this was for stocks & housing). :ph34r:

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If you watch the video again, you'll see that what he actually says is:

My shareholders are watching so I've got to make it look like a good thing knocking $150,000 off the price of our houses - I hope they don't realise that we're just predicting prices in 6 months when the unsold inventory should have doubled by then.

I also hope they don't notice that I am talking out of my bottom which is quite near where this sound is coming from.

You can see how the confusion happened. :lol:

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The bottom is very near to emitting something quite terrible and splattering it all over everyone.

I think this is what he was realy trying to say it just came out wrong. :rolleyes:

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