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NEWARK, N.J. (AP) - A day after homebuilder Hovnanian Enterprises Inc. reported a second consecutive quarterly loss, its chief executive officer said he doesn't expect a quick recovery to the housing slump.
President and Chief Executive Ara K. Hovnanian also said the company has not yet seen the bottom of the housing market slowdown.
"It's not getting worse, and it is slow but steady," he said Friday in a conference call with analysts.
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