| Hovnanian Enterprises |
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The Company consists of two operating groups: homebuilding and financial services and recently enter the Fortune 500. Hovnanian builds about 14,600 homes a year, with base prices ranging from $46,000 to $1,350,000 and averaging about $280,000. It operates mainly in the northeastern US, California, and the Washington, DC, area, but also in the Carolinas, Texas, and Florida. The Hovnanian family controls about 80% of the company shares (30% of the shares are worth $1 billion in 2005). The company was founded in 1967 in the United States by Kevork Hovnanian originally from Armenia. |
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