A newspaper article in the fall of 2007 stated that the, Microeconomics

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A newspaper article in the fall of 2007 stated that the

A newspaper article in the fall of 2007 stated that: "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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Microeconomics: A newspaper article in the fall of 2007 stated that the

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