Great article: "Housing = Jobs?"
Hovnanian Expects Job Growth as Housing Rebounds
Published: Tuesday, 13 Nov 2012
By: Drew Sandholm
The housing rebound could cause the unemployment rate to drop significantly in the next few years, said Ara Hovnanian, CEO of Hovnanian Enterprises, one of the nation's largest builders of single-family homes.
“We are undoubtedly well on the recovery route. It’s not a question of are we beginning it. I’d say it began at the beginning of this year and that’s not just for Hovnanian Enterprises [HOV 4.668 -0.212 (-4.34%) ]. That’s for the entire industry,” Hovnanian said, noting that net sales orders for the 10 public homebuilders have increased 30 percent year-over-year.
Speaking on CNBC's “Futures Now,” Hovnanian said there are other signs the housing market is turning around, too. The hottest markets for new construction currently include Florida, Phoenix, San Francisco, Orange Country, Calif., Dallas and Houston. Across the board, new home price increases are “significant.” Prices are rising in most every market, he said.
Still, Hovnanian cautioned the housing recovery will take a while. To put it in baseball terms, he said we’re only in the second inning...
