K. Hovnanian homesAgain, our resident troll and "Jeffrey Dahmer wannabe" Shneps, posts about things he has no comprehension of, resigning in the theory that whatever he googles, it becomes gospel because only he can delineate facts from everyday information that holds untold secrets. The keyboard warrior who can find oodles of information by just sitting by his keyboard and enlightening the world. A path to fame via his keyboard. Only he knows the google secrets. Life for Shneps is simplified to Google.
Wake up call: K. Hovnanian Homes is a national builder. Their margin is almost all derived from the buying of "entitled lots" from developers or late stage development assets at full price and making their margin of 23% (which is higher than other) solely on the construction of the homes. They have no upside on taking raw land from 11 years ago and going through a 4 year entitlement process. That is where the big money is made, on entitlement. That is not their business model. Their model is building.
The entitlement according to Altus brought GRB USD $111,000 per lot in profit value and $63,000 will made in construction, further backing up the 20 to 25% range of profit just in construction PLUS the $111,000 in entitled land value creation. This makes the 66.7%. yearly IRR.
Notice how Shneps has no self control and goes way beyond attacking management and shareholders. Since about 7 months ago he now attacks Altus, Voya, Phantom, K. Hovnanian, the TSXV, the BCSC and everyone who offers more value to life than the pitiful state of his malignant covert narcissistic persona.
Then he cannot distinguish in google between the geopolitical subdivision of the City versus the 80% of Tehachapi Valley that is unincorporated. Yes, Tehachapi Valley has 38,000 people, not 14,000.
A geography class would help Shneps.