Hovnanian (HOV) the big home builder, recently ran a sale on a number of its houses in selected areas across the country. According to The Washington Post "the largest discounts were on the most expensive homes, including a 3-bedroom condominium by the Hudson River in West New York, which has been reduced $240,000, or 22 percent, to $862,000." The program was called "The Deal of the Century". Since we are only seven years into the new century, it could be trumped at some time over the next 93 years.
Experts over at auto research firm Edmunds.com say that Ford (F) sales will be down double digits for September. No amount of cost cutting at the car company can save it if that keeps up.
If Hovnanian really want to move those high-end homes, it may want to offer a Lincoln, Jaguar, or Land Rover as an incentive. Ford seems to have plenty of inventory. Hovnanian could probably get them at a discount.
Douglas A. McIntyre
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