Hovnanian Enterprises (HOV) 10-Q 3 Jun 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Apr. 30, 2016	May. 31, 2016
Common Class B [Member]
Entity Common Stock, Shares Outstanding (in shares)		15,317,869
Common Class A [Member]
Entity Common Stock, Shares Outstanding (in shares)		131,802,260
Entity Registrant Name	HOVNANIAN ENTERPRISES INC
Entity Central Index Key	357,294
Trading Symbol	hov
Current Fiscal Year End Date	--10-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Type	10-Q
Document Period End Date	Apr. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Apr. 30, 2016	Oct. 31, 2015
Homebuilding [Member] | Nonrecourse Mortgages Secured By Inventory [Member] | Mortgages [Member]
Nonrecourse mortgages secured by inventory	$ 125,076	$ 143,863	[1]
Homebuilding [Member] | Nonrecourse Mortgages Secured by Operating Properties [Member] | Mortgages [Member]
Nonrecourse mortgages secured by inventory	14,924	15,511	[1]
Homebuilding [Member]
Cash and cash equivalents	120,661	245,398	[1]
Restricted cash and cash equivalents	6,259	7,299	[1]
Sold and unsold homes and lots under development	1,171,668	1,307,850	[1]
Land and land options held for future development or sale	191,627	214,503	[1]
Consolidated inventory not owned	312,841	122,225	[1]
Total inventories	1,676,136	1,644,578	[1]
Investments in and advances to unconsolidated joint ventures	70,061	61,209
Receivables, deposits and notes, net	65,055	70,349	[1]
Property, plant and equipment, net	45,670	45,534	[1]
Prepaid expenses and other assets	80,004	77,671	[1]
Total assets	2,063,846	2,152,038	[1]
Cash and cash equivalents	120,661	245,398	[1]
Total assets	2,063,846	2,152,038	[1]
Accounts payable and other liabilities	360,946	348,516	[1]
Customers’ deposits	47,976	44,218	[1]
Liabilities from inventory not owned	220,348	105,856	[1]
Liability	769,270	657,964	[1]
Total liabilities	769,270	657,964	[1]
Financial Services [Member]
Cash and cash equivalents	8,993	8,347	[1]
Restricted cash and cash equivalents	19,134	19,223	[1]
Total assets	160,712	159,981	[1]
Cash and cash equivalents	8,993	8,347	[1]
Mortgage loans held for sale at fair value	129,999	130,320	[1]
Other assets	2,586	2,091	[1]
Total assets	160,712	159,981	[1]
Accounts payable and other liabilities	27,574	27,908	[1]
Liability	136,706	136,783	[1]
Mortgage warehouse lines of credit	109,132	108,875	[1]
Total liabilities	136,706	136,783	[1]
Senior Secured Notes [Member]
Senior secured notes, net of discount	982,086	981,346	[1]
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior secured notes, net of discount	607,575	780,319	[1]
Senior Amortizing Notes [Member]
Senior secured notes, net of discount	10,516	12,811	[1]
Senior Exchangeable Notes [Member]
Senior secured notes, net of discount	75,677	73,771	[1]
Common Class A [Member]
Common stock	1,436	1,433	[1]
Common Class B [Member]
Common stock	160	157	[1]
Cash and cash equivalents	129,654	253,745
Restricted cash and cash equivalents	25,400	26,500
Total assets	2,518,627	2,602,298	[1]
Cash and cash equivalents	129,654	253,745
Income taxes receivable – including net deferred tax benefits	294,069	290,279	[1]
Total assets	2,518,627	2,602,298	[1]
Liability	2,670,949	2,730,382	[1]
Total liabilities	2,670,949	2,730,382	[1]
Revolving credit agreement	50,000	47,000	[1]
Accrued interest	39,119	40,388	[1]
Total notes payable	1,764,973	1,935,635	[1]
Preferred stock, $0.01 par value - authorized 100,000 shares; issued and outstanding 5,600 shares with a liquidation preference of $140,000 at April 30, 2016 and at October 31, 2015	135,299	135,299	[1]
Paid in capital – common stock	704,141	703,751	[1]
Accumulated deficit	(877,998)	(853,364)	[1]
Treasury stock – at cost	(115,360)	(115,360)	[1]
Total stockholders’ equity deficit	(152,322)	(128,084)	[1]
Total liabilities and equity	$ 2,518,627	$ 2,602,298	[1]
[1]	Derived from the audited balance sheet as of October 31, 2015.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Millions	Apr. 30, 2016	Oct. 31, 2015	[1]
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	143,563,023	143,292,881
Common stock, shares held in Treasury (in shares)	11,760,763	11,760,763
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	60,000,000	60,000,000
Common stock, shares issued (in shares)	16,009,617	15,676,829
Common stock, shares held in Treasury (in shares)	691,748	691,748
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	5,600	5,600
Preferred stock, liquidation preference	$ 140	$ 140
Preferred stock, outstanding (in shares)	5,600	5,600
[1]	Derived from the audited balance sheet as of October 31, 2015.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Homebuilding [Member]
Sale of homes		$ 626,157	$ 455,172	$ 1,182,932	$ 888,643
Land sales and other revenues		11,563	1,320	12,167	2,441
Total homebuilding		637,720	456,492	1,195,099	891,084
Total revenues		637,792	456,531	1,195,191	891,159
Cost of sales, excluding interest		536,050	382,139	1,000,196	736,951
Cost of sales interest		21,444	12,013	38,287	23,331
Inventory impairment loss and land option write-offs		9,669	4,311	21,350	6,541
Total cost of sales		567,163	398,463	1,059,833	766,823
Selling, general and administrative		56,371	52,614	103,875	100,260
Total homebuilding expenses		623,534	451,077	1,163,708	867,083
Total expenses		661,363	492,388	1,240,467	951,917
Loss before income taxes		1,283	1,077	9,647	14,608
Financial Services [Member]
Financial services revenue		17,003	12,457	35,229	23,579
Total revenues		17,003	12,457	35,229	23,579
Financial services		9,618	7,508	17,833	14,825
Total expenses		9,618	7,508	17,833	14,825
Loss before income taxes		7,385	4,949	17,396	8,754
State and Local Jurisdiction [Member]
Income Tax Expense (Benefit)		(758)	(414)	3,561	2,718
Domestic Tax Authority [Member]
Income Tax Expense (Benefit)		(8,385)	(9,508)	(9,725)	(17,944)
Total revenues		654,723	468,949	1,230,328	914,663
Inventory impairment loss and land option write-offs				21,350	6,541
Corporate general and administrative		12,598	16,493	28,919	33,401
Other interest	[1],[2]	24,084	23,030	45,309	48,101
Other operations		1,147	1,788	2,531	3,332
Total expenses		670,981	499,896	1,258,300	966,742
(Loss) income from unconsolidated joint ventures		(1,346)	1,466	(2,826)	2,918
Loss before income taxes		(17,604)	(29,481)	(30,798)	(49,161)
Income Tax Expense (Benefit)		(9,143)	(9,922)	(6,164)	(15,226)
Net loss		$ (8,461)	$ (19,559)	$ (24,634)	$ (33,935)
Loss per common share (in dollars per share)		$ (0.06)	$ (0.13)	$ (0.17)	$ (0.23)
Weighted-average number of common shares outstanding (in shares)		147,334	146,946	147,301	146,762
Loss per common share (in dollars per share)		$ (0.06)	$ (0.13)	$ (0.17)	$ (0.23)
Weighted-average number of common shares outstanding (in shares)		147,334	146,946	147,301	146,762
[1]	Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:
[2]	Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore is expensed.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Equity (Unaudited) - 6 months ended Apr. 30, 2016 - USD ($) $ in Thousands	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Oct. 31, 2015	131,532,118	14,985,081	5,600
Balance at Oct. 31, 2015	$ 1,433	$ 157	$ 135,299	$ 703,751	$ (853,364)	$ (115,360)	$ (128,084)	[1]
Stock options, amortization and issuances				(1,859)			(1,859)
Restricted stock amortization, issuances and forfeitures (in shares)	270,032	332,898
Restricted stock amortization, issuances and forfeitures	$ 3	$ 3		2,249			2,255
Conversion of class B to class A common stock (in shares)	110	(110)
Net loss					(24,634)		(24,634)
Balance (in shares) at Apr. 30, 2016	131,802,260	15,317,869	5,600
Balance at Apr. 30, 2016	$ 1,436	$ 160	$ 135,299	$ 704,141	$ (877,998)	$ (115,360)	$ (152,322)
[1]	Derived from the audited balance sheet as of October 31, 2015.

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Related to Mortgage Company [Member]
Cash flows from investing activities:
Increase (decrease) in restricted cash	$ (204)	$ 1,645
Related to Letters of Credit [Member]
Cash flows from investing activities:
Increase (decrease) in restricted cash	$ 325
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Cash flows from financing activities:
Proceeds from senior notes		$ 250,000
Net loss	$ (24,634)	(33,935)
Depreciation	1,729	1,719
Compensation from stock options and awards	825	6,665
Amortization of bond discounts and deferred financing costs	6,106	5,991
Gain on sale and retirement of property and assets	(100)	(851)
Loss (income) from unconsolidated joint ventures	$ 2,826	(2,918)
Distributions of earnings from unconsolidated joint ventures		4,445
Inventory impairment and land option write-offs	$ 21,350	6,541
Deferred income tax benefit	(4,077)	(15,975)
Origination of mortgage loans	(584,879)	(429,708)
Sale of mortgage loans	585,200	418,594
Restricted cash, receivables, prepaids, deposits and other assets	2,461	134
Inventories	(52,908)	(200,988)
State income tax payable	287	(70)
Customers’ deposits	3,758	6,462
Accounts payable, accrued interest and other accrued liabilities	10,869	(22,235)
Net cash used in operating activities	(31,187)	(256,129)
Proceeds from sale of property and assets	115	983
Purchase of property, equipment & other fixed assets and acquisitions	(1,651)	(1,172)
Investments in and advances to unconsolidated joint ventures	(16,743)	(15,539)
Distributions of capital from unconsolidated joint ventures	5,065	7,345
Net cash used in investing activities	(13,093)	(6,738)
Proceeds from mortgages and notes	112,894	76,569
Payments related to mortgages and notes	(132,033)	(61,858)
Proceeds from model sale leaseback financing programs	14,910	21,301
Payments related to model sale leaseback financing programs	(13,691)	(7,960)
Proceeds from land bank financing programs	153,423	4,144
Payments related to land bank financing programs	(38,950)	(17,147)
Proceeds from senior notes		250,000
Payments related to senior notes and senior amortizing notes	(175,040)	$ (2,062)
Borrowings from revolving credit facility	3,000
Net proceeds related to mortgage warehouse lines of credit	257	$ 6,047
Deferred financing costs from land bank financing programs and note issuances	(4,581)	(6,493)
Net cash (used in) provided by financing activities	(79,811)	262,541
Net decrease in cash and cash equivalents	(124,091)	(326)
Cash and cash equivalents balance, beginning of period	253,745	261,898
Cash and cash equivalents balance, end of period	129,654	261,572
Supplemental disclosure of cash flow:
Interest, net of capitalized interest (see Note 3 to the Condensed Consolidated Financial Statements)	47,987	41,061
Income taxes	$ (2,373)	$ 819

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Basis of Accounting [Text Block]	1. Basis of Presentation Hovnanian Enterprises, Inc. and Subsidiaries (the “Company”, “we”, “us” or “our”) has reportable segments consisting of six Homebuilding segments (Northeast, Mid-Atlantic, Midwest, Southeast, Southwest and West) and the Financial Services segment (see Note 17). The accompanying unaudited Condensed Consolidated Financial Statements include our accounts and those of all wholly-owned subsidiaries after elimination of all significant intercompany balances and transactions. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended October 31, 2015. In the opinion of management, all adjustments for interim periods presented have been made, which include normal recurring accruals and deferrals necessary for a fair presentation of our condensed consolidated financial position, results of operations and cash flows. The preparation of Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and these differences could have a significant impact on the Condensed Consolidated Financial Statements. Results for interim periods are not necessarily indicative of the results which might be expected for a full year. The balance sheet at October 31, 2015 has been derived from the audited Consolidated Financial Statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements.

Note 2 - Stock Compensation

Note 2 - Stock Compensation	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	2. Stock Compensation For the three and six months ended April 30, 2016, the Company’s total stock-based compensation was income of $(0.7) million and expense of $0.8 million ($0.7 million net of tax), respectively, and expense of $3.2 million and $6.7 million ($2.1 million and $4.6 million net of tax) for the three and six months ended April 30, 2015, respectively. Included in this total stock-based compensation was income of $(2.1) million for both the three and six months ended April 30, 2016 for previously recognized expense of certain performance based stock option grants for which the performance metrics are no longer expected to be satisfied. This income was slightly offset by the vesting of stock options of $0.1 million and $0.2 million, respectively, during the three and six months ended April 30, 2016. Included in total stock based compensation expense for the three and six months ended April 30, 2015 was the vesting of stock options of $0.5 million and $1.4 million, respectively .

Note 3 - Interest

Note 3 - Interest	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Home Building Interest [Text Block]	3. Interest Interest costs incurred, expensed and capitalized were: Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Interest capitalized at beginning of period $117,113 $114,241 $123,898 $109,158 Plus interest incurred (1) 44,224 40,703 86,183 82,175 Less cost of sales interest expensed 21,444 12,013 38,287 23,331 Less other interest expensed (2)(3) 24,084 23,030 45,309 48,101 Less interest contributed to unconsolidated joint venture (4) - - 10,676 - Interest capitalized at end of period (5) $115,809 $119,901 $115,809 $119,901 (1) Data does not include interest incurred by our mortgage and finance subsidiaries. (2) Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore, is expensed. (3) Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows: Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Other interest expensed $24,084 $23,030 $45,309 $48,101 Interest paid by our mortgage and finance subsidiaries 851 268 1,410 676 Decrease (increase) in accrued interest (9,948 ) (8,726 ) 1,268 (7,716 ) Cash paid for interest, net of capitalized interest $14,987 $14,572 $47,987 $41,061 (4) Represents capitalized interest which was included as part of the assets contributed to the joint venture the Company entered into in November 2015, as discussed in Note 18. There was no impact to the Condensed Consolidated Statement of Operations as a result of this transaction. (5) Capitalized interest amounts are shown gross before allocating any portion of impairments, if any, to capitalized interest.

Note 4 - Reduction of Inventory

Note 4 - Reduction of Inventory to Fair Value	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Inventory Impairments and Land Option Cost Write-offs [Text Block]	4. Reduction of Inventory to Fair Value We record impairment losses on inventories related to communities under development and held for future development when events and circumstances indicate that they may be impaired and the undiscounted cash flows estimated to be generated by those assets are less than their related carrying amounts. If the expected undiscounted cash flows are less than the carrying amount, then the community is written down to its fair value. We estimate the fair value of each impaired community by determining the present value of the estimated future cash flows at a discount rate commensurate with the risk of the respective community. For the six months ended April 30, 2016, our discount rate used for the impairments recorded ranged from 16.8% to 18.5%. For the six months ended April 30, 2015, our discount rate used for the impairments recorded ranged from 17.5% to 19.8%. Should the estimates or expectations used in determining cash flows or fair value decrease or differ from current estimates in the future, we may need to recognize additional impairments. During the six months ended April 30, 2016 and 2015, we evaluated inventories of all 478 and 508 communities under development and held for future development, respectively, for impairment indicators through preparation and review of detailed budgets or other market indicators of impairment. We performed detailed impairment calculations during the six months ended April 30, 2016 and 2015 for 20 and 15 of those communities (i.e., those with a projected operating loss or other impairment indicators), respectively, with an aggregate carrying value of $89.0 million and $77.4 million, respectively. Of those communities tested for impairment during the six months ended April 30, 2016 and 2015, nine and seven communities with an aggregate carrying value of $43.5 million and $33.0 million, respectively, had undiscounted future cash flows that exceeded the carrying amount by less than 20%. As a result of our impairment analysis, we recorded aggregate impairment losses of $5.4 million and $15.1 million, in four and ten communities, respectively, with an aggregate pre-impairment value of $16.7 million and $45.4 million, respectively, for the three and six months ended April 30, 2016, respectively, and recorded aggregate impairment losses of $3.5 million and $4.4 million, in four and five communities, respectively, with an aggregate pre-impairment value of $11.0 million and $16.7 million, respectively, for the three and six months ended April 30, 2015, respectively, which are included in the Condensed Consolidated Statements of Operations on the line entitled “Homebuilding: Inventory impairment loss and land option write-offs” and deducted from inventory. The impairments recorded for the six months ended April 30, 2016 were mainly for land held for sale in the Midwest and Northeast. The inventory has been written down to fair value based on recent offers received for the properties. The pre-impairment value represents the carrying value, net of prior period impairments, if any, at the time of recording the impairment. The Condensed Consolidated Statements of Operations line entitled “Homebuilding: Inventory impairment loss and land option write-offs” also includes write-offs of options and approval, engineering and capitalized interest costs that we record when we redesign communities and/or abandon certain engineering costs and we do not exercise options in various locations because the communities' pro forma profitability is not projected to produce adequate returns on investment commensurate with the risk. Total aggregate write-offs related to these items were $4.3 million and $0.8 million for the three months ended April 30, 2016 and 2015, respectively, and $6.3 million and $2.1 million for the six months ended April 30, 2016 and 2015, respectively. Such write-offs were located in each of our segments in both the first half of fiscal 2016 and 2015. Occasionally, these write-offs are offset by recovered deposits (sometimes through legal action) that had been written off in a prior period as walk-away costs. Historically, these recoveries have not been significant in comparison to the total costs written off. The number of lots walked away from during the three months ended April 30, 2016 and 2015 were 2,263 and 455, respectively, and 3,519 and 2,155 during the six months ended April 30, 2016 and 2015, respectively. We decide to mothball (or stop development on) certain communities when we determine that the current performance does not justify further investment at the time. When we decide to mothball a community, the inventory is reclassified on our Condensed Consolidated Balance Sheets from “Sold and unsold homes and lots under development” to “Land and land options held for future development or sale.” During the first half of fiscal 2016, we did not mothball any additional communities or sell any communities; we re-activated one previously mothballed community and contributed one previously mothballed community to a new joint venture which is beginning construction. As of April 30, 2016 and October 31, 2015, the net book value associated with our 29 and 31 total mothballed communities was $75.7 million and $103.0 million, respectively, which was net of impairment charges recorded in prior periods of $296.8 million and $334.5 million, respectively. From time to time we enter into option agreements that include specific performance requirements, whereby we are required to purchase a minimum number of lots. Because of our obligation to purchase these lots, for accounting purposes in accordance with Accounting Standards Codification (“ASC”) 360-20-40-38, we are required to record this inventory on our Condensed Consolidated Balance Sheets. As of April 30, 2016 we had no specific performance options. As of October 31, 2015, we had $1.2 million of specific performance options recorded on our Condensed Consolidated Balance Sheet to “Consolidated inventory not owned,” with a corresponding liability of $1.2 million recorded to “Liabilities from inventory not owned.” We sell and lease back certain of our model homes with the right to participate in the potential profit when each home is sold to a third party at the end of the respective lease. As a result of our continued involvement, for accounting purposes in accordance with ASC 360-20-40-38, these sale and leaseback transactions are considered a financing rather than a sale. Therefore, for purposes of our Condensed Consolidated Balance Sheets, at April 30, 2016 and October 31, 2015, inventory of $98.2 million and $95.9 million, respectively, was recorded to “Consolidated inventory not owned,” with a corresponding amount of $89.1 million and $87.9 million, respectively, recorded to “Liabilities from inventory not owned” for the amount of net cash received from the transactions. We have land banking arrangements, whereby we sell our land parcels to the land bankers and they provide us an option to purchase back finished lots on a quarterly basis. Because of our options to repurchase these parcels, for accounting purposes, in accordance with ASC 360-20-40-38, these transactions are considered a financing rather than a sale. For purposes of our Condensed Consolidated Balance Sheets, at April 30, 2016 and October 31, 2015, inventory of $214.6 million and $25.1 million, respectively, was recorded as “Consolidated inventory not owned,” with a corresponding amount of $131.2 million and $16.8 million, respectively, recorded to “Liabilities from inventory not owned” for the amount of net cash received from the transactions.

Note 5 - Variable Interest Enti

Note 5 - Variable Interest Entities	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Variable Interest Entity Disclosure [Text Block]	5. Variable Interest Entities The Company enters into land and lot option purchase contracts to procure land or lots for the construction of homes. Under these contracts, the Company will fund a stated deposit in consideration for the right, but not the obligation, to purchase land or lots at a future point in time with predetermined terms. Under the terms of the option purchase contracts, many of the option deposits are not refundable at the Company's discretion. Under the requirements of ASC 810, certain option purchase contracts may result in the creation of a variable interest in the entity (“VIE”) that owns the land parcel under option. In compliance with ASC 810, the Company analyzes its option purchase contracts to determine whether the corresponding land sellers are VIEs and, if so, whether the Company is the primary beneficiary. Although the Company does not have legal title to the underlying land, ASC 810 requires the Company to consolidate a VIE if the Company is determined to be the primary beneficiary. In determining whether it is the primary beneficiary, the Company considers, among other things, whether it has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. Such activities would include, among other things, determining or limiting the scope or purpose of the VIE, selling or transferring property owned or controlled by the VIE, or arranging financing for the VIE. The Company also considers whether it has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE. As a result of its analyses, the Company determined that as of April 30, 2016 and October 31, 2015, it was not the primary beneficiary of any VIEs from which it is purchasing land under option purchase contracts. We will continue to secure land and lots using options, some of which are with VIEs. Including deposits on our unconsolidated VIEs, at April 30, 2016, we had total cash deposits amounting to $67.4 million to purchase land and lots with a total purchase price of $1.3 billion. The maximum exposure to loss with respect to our land and lot options is limited to the deposits plus any pre-development costs invested in the property, although some deposits are refundable at our request or refundable if certain conditions are not met.

Note 6 - Warranty Costs

Note 6 - Warranty Costs	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	6. Warranty Costs General liability insurance for homebuilding companies and their suppliers and subcontractors is very difficult to obtain. The availability of general liability insurance is limited due to a decreased number of insurance companies willing to underwrite for the industry. In addition, those few insurers willing to underwrite liability insurance have significantly increased the premium costs. To date, we have been able to obtain general liability insurance but at higher premium costs with higher deductibles. Our subcontractors and suppliers have advised us that they have also had difficulty obtaining insurance that also provides us coverage. As a result, we have an owner controlled insurance program for certain of our subcontractors whereby the subcontractors pay us an insurance premium (through a reduction of amounts we would otherwise owe such subcontractors for their work on our homes) based on the risk type of the trade. We absorb the liability associated with their work on our homes as part of our overall general liability insurance at no additional cost to us because our existing general liability and construction defect insurance policy and related reserves for amounts under our deductible covers construction defects regardless of whether we or our subcontractors are responsible for the defect. For the six months ended April 30, 2016 and 2015, we received $2.0 million and $1.3 million, respectively, from subcontractors related to the owner controlled insurance program, which we accounted for as a reduction to inventory. We accrue for warranty costs that are covered under our existing general liability and construction defect policy as part of our general liability insurance deductible. This accrual is expensed as selling, general and administrative costs. For homes delivered in fiscal 2016 and 2015, our deductible under our general liability insurance is a $20 million aggregate for construction defect and warranty claims. For bodily injury claims, our deductible per occurrence in fiscal 2016 and 2015 is $0.25 million, up to a $5 million limit. Our aggregate retention in fiscal 2016 and 2015 is $21 million for construction defect, warranty and bodily injury claims. In addition, we establish a warranty accrual for lower cost related issues to cover home repairs, community amenities and land development infrastructure that are not covered under our general liability and construction defect policy. We accrue an estimate for these warranty costs as part of cost of sales at the time each home is closed and title and possession have been transferred to the homebuyer. Additions and charges in the warranty reserve and general liability reserve for the three and six months ended April 30, 2016 and 2015 were as follows: Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Balance, beginning of period $133,389 $181,833 $135,053 $178,008 Additions – Selling, general and administrative 4,292 4,331 8,915 9,580 Additions – Cost of sales 4,539 5,635 7,921 8,816 Charges incurred during the period (5,514 ) (30,492 ) (15,183 ) (35,097 ) Changes to pre-existing reserves - - - - Balance, end of period $136,706 $161,307 $136,706 $161,307 Warranty accruals are based upon historical experience. We engage a third-party actuary that uses our historical warranty and construction defect data to assist our management in estimating our unpaid claims, claim adjustment expenses and incurred but not reported claims reserves for the risks that we are assuming under the general liability and construction defect programs. The estimates include provisions for inflation, claims handling and legal fees. Insurance claims paid by our insurance carriers, excluding insurance deductibles paid, were $0.5 million and $18.1 million for the three months ended April 30, 2016 and 2015, respectively, and $3.7 million and $18.3 million for the six months ended April 30, 2016 and 2015, respectively, for prior year deliveries. During the first half of fiscal 2016, we settled two construction defect claims relating to the Northeast segment which made up the majority of the payments. During the first half of fiscal 2015, we settled a class action suit which alleged specified issues related to the HVAC systems installed in certain of the Company’s homes, with the majority of the settlement being paid by our insurance carriers.

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingent Liabilities	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	7. Commitments and Contingent Liabilities We are involved in litigation arising in the ordinary course of business, none of which is expected to have a material adverse effect on our financial position, results of operations or cash flows, and we are subject to extensive and complex laws and regulations that affect the development of land and home building, sales and customer financing processes, including zoning, density, building standards and mortgage financing. These laws and regulations often provide broad discretion to the administering governmental authorities. This can delay or increase the cost of development or homebuilding. We also are subject to a variety of local, state, federal and foreign laws and regulations concerning protection of health and the environment, including those regulating the emission or discharge of materials into the environment, the management of stormwater runoff at construction sites, the handling, use, storage and disposal of hazardous substances, impacts to wetlands and other sensitive environments, and the remediation of contamination at properties that we have owned or developed or currently own or are developing (“environmental laws”). The particular environmental laws that apply to any given community vary greatly according to the community site, the site’s environmental conditions and the present and former uses of the site. These environmental laws may result in delays, may cause us to incur substantial compliance, remediation and/or other costs, and can prohibit or severely restrict development and homebuilding activity. In addition, noncompliance with these laws and regulations could result in fines and penalties, obligations to remediate, permit revocations or other sanctions; and contamination or other environmental conditions at or in the vicinity of our developments may result in claims against us for personal injury, property damage or other losses. In March 2013, we received a letter from the Environmental Protection Agency (“EPA”) requesting information about our involvement in a housing redevelopment project in Newark, New Jersey that a Company entity undertook during the 1990s. We understand that the development is in the vicinity of a former lead smelter and that recent tests on soil samples from properties within the development conducted by the EPA show elevated levels of lead. We also understand that the smelter ceased operations many years before the Company entity involved acquired the properties in the area and carried out the re-development project. We responded to the EPA’s request. In August 2013, we were notified that the EPA considers us a potentially responsible party (or “PRP”) with respect to the site, that the EPA will clean up the site, and that the EPA is proposing that we fund and/or contribute towards the cleanup of the contamination at the site. We began preliminary discussions with the EPA concerning a possible resolution but do not know the scope or extent of the Company’s obligations, if any, that may arise from the site and therefore cannot provide any assurance that this matter will not have a material impact on the Company. The EPA requested additional information in April 2014 and the Company has responded to its information request. We anticipate that increasingly stringent requirements will be imposed on developers and homebuilders in the future. Although we cannot reliably predict the extent of any effect these requirements may have on us, they could result in time-consuming and expensive compliance programs and in substantial expenditures, which could cause delays and increase our cost of operations. In addition, our ability to obtain or renew permits or approvals and the continued effectiveness of permits already granted or approvals already obtained is dependent upon many factors, some of which are beyond our control, such as changes in policies, rules and regulations and their interpretations and application.

Note 8 - Restricted Cash and De

Note 8 - Restricted Cash and Deposits	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	8. Restricted Cash and Deposits Cash represents cash deposited in checking accounts. Cash equivalents include certificates of deposit, Treasury bills and government money market funds with maturities of 90 days or less when purchased. Our cash balances are held at a few financial institutions and may, at times, exceed insurable amounts. We believe we help to mitigate this risk by depositing our cash in major financial institutions. At April 30, 2016 and October 31, 2015, $8.6 million and $15.8 million, respectively, of the total cash and cash equivalents was in cash equivalents, the book value of which approximates fair value. Restricted cash and cash equivalents on the Condensed Consolidated Balance Sheets totaled $25.4 million and $26.5 million as of April 30, 2016 and October 31, 2015, respectively, which includes cash collateralizing our letter of credit agreements and facilities as discussed in Note 10. Also included in this balance were (1) homebuilding and financial services customers’ deposits of $4.0 million and $17.1 million at April 30, 2016, respectively, and $4.7 million and $17.2 million as of October 31, 2015, respectively, which are restricted from use by us, and (2) $2.0 million of restricted cash at both April 30, 2016 and October 31, 2015, under the terms of our mortgage warehouse lines of credit. Total Homebuilding Customers’ deposits are shown as a liability on the Condensed Consolidated Balance Sheets. These liabilities are significantly more than the applicable periods’ restricted cash balances because in some states, the deposits are not restricted from use and, in other states, we are able to release the majority of these customer deposits to cash by pledging letters of credit and surety bonds.

Note 9 - Mortgage Loans Held fo

Note 9 - Mortgage Loans Held for Sale	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	9. Mortgage Loans Held for Sale Our mortgage banking subsidiary originates mortgage loans, primarily from the sale of our homes. Such mortgage loans are sold in the secondary mortgage market within a short period of time of origination. Mortgage loans held for sale consist primarily of single-family residential loans collateralized by the underlying property. We have elected the fair value option to record loans held for sale and therefore these loans are recorded at fair value with the changes in the value recognized in the Condensed Consolidated Statements of Operations in “Revenues: Financial services.” We currently use forward sales of mortgage-backed securities (“MBS”), interest rate commitments from borrowers and mandatory and/or best efforts forward commitments to sell loans to third-party purchasers to protect us from interest rate fluctuations. These short-term instruments, which do not require any payments to be made to the counterparty or purchaser in connection with the execution of the commitments, are recorded at fair value. Gains and losses on changes in the fair value are recognized in the Condensed Consolidated Statements of Operations in “Revenues: Financial services.” At April 30, 2016 and October 31, 2015, $116.8 million and $114.0 million, respectively, of mortgages held for sale were pledged against our mortgage warehouse lines of credit (see Note 10). We may incur losses with respect to mortgages that were previously sold that are delinquent and which had underwriting defects, but only to the extent the losses are not covered by mortgage insurance or resale value of the home. The reserves for these estimated losses are included in the “Financial services – Accounts payable and other liabilities” balances on the Condensed Consolidated Balance Sheets. As of April 30, 2016 and 2015, we had reserves specifically for 132 and 131 identified mortgage loans, respectively, as well as reserves for an estimate for future losses on mortgages sold but not yet identified to us. The activity in our loan origination reserves during the three and six months ended April 30, 2016 and 2015 was as follows: Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Loan origination reserves, beginning of period $8,028 $7,981 $8,025 $7,352 Provisions for losses during the period 117 68 158 129 Adjustments to pre-existing provisions for losses from changes in estimates 161 (107 ) 123 461 Loan origination reserves, end of period $8,306 $7,942 $8,306 $7,942

Note 10 - Mortgage and Notes Pa

Note 10 - Mortgage and Notes Payable	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Line of Credit [Text Block]	10. Mortgage and Notes Payable We had nonrecourse mortgage loans for certain communities totaling $125.1 million and $143.9 million at April 30, 2016 and October 31, 2015, respectively, which are secured by the related real property, including any improvements, with an aggregate book value of $330.9 million and $388.1 million, respectively. The weighted-average interest rate on these obligations was 4.6% and 5.1% at April 30, 2016 and October 31, 2015, respectively, and the mortgage loan payments on each community primarily correspond to home deliveries. We also had nonrecourse mortgage loans on our corporate headquarters totaling $14.9 million and $15.5 million at April 30, 2016 and October 31, 2015, respectively. These loans had a weighted-average interest rate of 8.8% at both April 30, 2016 and October 31, 2015. As of April 30, 2016, these loans have remaining installment obligations with annual principal maturities in the years ending October 31 of: $0.6 million in 2016, $1.3 million in 2017, $1.4 million in 2018, $1.5 million in 2019, $1.7 million in 2020 and $8.4 million after 2020. In June 2013, K. Hovnanian Enterprises, Inc. (“K. Hovnanian”), as borrower, and we and certain of our subsidiaries, as guarantors, entered into a five-year, $75.0 million unsecured revolving credit facility (the “Credit Facility”) with Citicorp USA, Inc., as administrative agent and issuing bank, and Citibank, N.A., as a lender. The Credit Facility is available for both letters of credit and general corporate purposes. The Credit Facility does not contain any financial maintenance covenants, but does contain certain restrictive covenants that track those contained in our indenture governing the 8.0% Senior Notes due 2019, which are described in Note 11. The Credit Facility also contains certain customary events of default which would permit the administrative agent at the request of the required lenders to, among other things, declare all loans then outstanding to be immediately due and payable if such default is not cured within applicable grace periods, including the failure to make timely payments of amounts payable under the Credit Facility or other material indebtedness or the acceleration of other material indebtedness, the failure to comply with agreements and covenants or for representations or warranties to be correct in all material respects when made, specified events of bankruptcy and insolvency, and the entry of a material judgment against a loan party. Outstanding borrowings under the Credit Facility accrue interest at an annual rate equal to either, as selected by K. Hovnanian, (i) the alternate base rate plus the applicable spread determined on the date of such borrowing or (ii) an adjusted London Interbank Offered Rate (“LIBOR”) rate plus the applicable spread determined as of the date two business days prior to the first day of the interest period for such borrowing. As of April 30, 2016 and October 31, 2015 there were $50.0 million and $47.0 million of borrowings, respectively, and $22.4 million and $25.9 million of letters of credit outstanding, respectively, under the Credit Facility. As of April 30, 2016, we believe we were in compliance with the covenants under the Credit Facility. In addition to the Credit Facility, we have certain stand–alone cash collateralized letter of credit agreements and facilities under which there were a total of $2.2 million and $2.6 million letters of credit outstanding at April 30, 2016 and October 31, 2015, respectively. These agreements and facilities require us to maintain specified amounts of cash as collateral in segregated accounts to support the letters of credit issued thereunder, which will affect the amount of cash we have available for other uses. As of April 30, 2016 and October 31, 2015, the amount of cash collateral in these segregated accounts was $2.3 million and $2.6 million, respectively, which is reflected in “Restricted cash and cash equivalents” on the Condensed Consolidated Balance Sheets. Our wholly owned mortgage banking subsidiary, K. Hovnanian American Mortgage, LLC (“K. Hovnanian Mortgage”), originates mortgage loans primarily from the sale of our homes. Such mortgage loans and related servicing rights are sold in the secondary mortgage market within a short period of time. In certain instances, we retain the servicing rights for a small amount of loans. Our secured Master Repurchase Agreement with JPMorgan Chase Bank, N.A. (“Chase Master Repurchase Agreement”), which was amended on January 29, 2016, is a short-term borrowing facility that provides up to $50.0 million through January 31, 2017. The loan is secured by the mortgages held for sale and is repaid when we sell the underlying mortgage loans to permanent investors. Interest is payable monthly on outstanding advances at an adjusted LIBOR rate, which was 0.44% at April 30, 2016, plus the applicable margin of 2.5% or 2.63% based upon type of loan. As of April 30, 2016 and October 31, 2015, the aggregate principal amount of all borrowings outstanding under the Chase Master Repurchase Agreement was $31.9 million and $30.5 million, respectively. K. Hovnanian Mortgage has another secured Master Repurchase Agreement with Customers Bank (“Customers Master Repurchase Agreement”), which was amended on February 18, 2016 to extend the maturity date to February 17, 2017, that is a short-term borrowing facility that provides up to $25.0 million through maturity. The loan is secured by the mortgages held for sale and is repaid when we sell the underlying mortgage loans to permanent investors. Interest is payable daily or as loans are sold to permanent investors on outstanding advances at the current LIBOR rate, plus the applicable margin ranging from 2.5% to 5.25% based on the type of loan and the number of days outstanding on the warehouse line. As of April 30, 2016 and October 31, 2015, the aggregate principal amount of all borrowings outstanding under the Customers Master Repurchase Agreement was $24.1 million and $29.7 million, respectively. K. Hovnanian Mortgage has a third secured Master Repurchase Agreement with Credit Suisse First Boston Mortgage Capital LLC (“Credit Suisse Master Repurchase Agreement”), which was amended on February 23, 2016, that is a short-term borrowing facility that provides up to $50.0 million through February 21, 2017. The loan is secured by the mortgages held for sale and is repaid when we sell the underlying mortgage loans to permanent investors. Interest is payable monthly on outstanding advances at the Credit Suisse Base Rate (as defined in the loan documents), which was 0.85% at April 30, 2016, plus an applicable margin of 2.25% to 2.5%. As of April 30, 2016 and October 31, 2015, the aggregate principal amount of all borrowings outstanding under the Credit Suisse Master Repurchase Agreement was $27.6 million and $30.1 million, respectively. In February 2014, K. Hovnanian Mortgage executed a secured Master Repurchase Agreement with Comerica Bank (“Comerica Master Repurchase Agreement”), which was amended on December 28, 2015 to extend the maturity date to December 27, 2016. The Comerica Master Repurchase Agreement is a short-term borrowing facility that provides up to $35.0 million through maturity. The loan is secured by the mortgages held for sale and is repaid when we sell the underlying mortgage loans to permanent investors. Interest is payable monthly at the current LIBOR rate, subject to a floor of 0.25%, plus the applicable margin of 2.5%. As of April 30, 2016 and October 31, 2015, the aggregate principal amount of all borrowings outstanding under the Comerica Master Repurchase Agreement was $25.5 million and $18.6 million, respectively. The Chase Master Repurchase Agreement, Customers Master Repurchase Agreement, Credit Suisse Master Repurchase Agreement and Comerica Master Repurchase Agreement (together, the “Master Repurchase Agreements”) require K. Hovnanian Mortgage to satisfy and maintain specified financial ratios and other financial condition tests. Because of the extremely short period of time mortgages are held by K. Hovnanian Mortgage before the mortgages are sold to investors (generally a period of a few weeks), the immateriality to us on a consolidated basis of the size of the Master Repurchase Agreements, the levels required by these financial covenants, our ability based on our immediately available resources to contribute sufficient capital to cure any default, were such conditions to occur, and our right to cure any conditions of default based on the terms of the applicable agreement, we do not consider any of these covenants to be substantive or material. As of April 30, 2016, we believe we were in compliance with the covenants under the Master Repurchase Agreements.

Note 11 - Senior Secured, Senio

Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Long-term Debt [Text Block]	11. Senior Secured, Senior, Senior Amortizing and Senior Exchangeable Notes Senior Secured, Senior, Senior Amortizing and Senior Exchangeable Notes balances as of April 30, 2016 and October 31, 2015, were as follows: (In thousands) April 30, 2016 October 31, 2015 Senior Secured Notes: 7.25% Senior Secured First Lien Notes due October 15, 2020 $577,000 $577,000 9.125% Senior Secured Second Lien Notes due November 15, 2020 220,000 220,000 2.0% Senior Secured Notes due November 1, 2021 (net of discount) 53,143 53,139 5.0% Senior Secured Notes due November 1, 2021 (net of discount) 131,943 131,207 Total Senior Secured Notes $982,086 $981,346 Senior Notes: 6.25% Senior Notes due January 15, 2016 (net of discount) $- $172,744 7.5% Senior Notes due May 15, 2016 86,532 86,532 8.625% Senior Notes due January 15, 2017 121,043 121,043 7.0% Senior Notes due January 15, 2019 150,000 150,000 8.0% Senior Notes due November 1, 2019 250,000 250,000 Total Senior Notes $607,575 $780,319 11.0% Senior Amortizing Notes due December 1, 2017 $10,516 $12,811 Senior Exchangeable Notes due December 1, 2017 $75,677 $73,771 Except for K. Hovnanian, the issuer of the notes, our home mortgage subsidiaries, joint ventures and subsidiaries holding interests in our joint ventures, certain of our title insurance subsidiaries and our foreign subsidiary, we and each of our subsidiaries are guarantors of the senior secured, senior, senior amortizing and senior exchangeable notes outstanding at April 30, 2016 (see Note 21). In addition, the 5.0% Senior Secured Notes due 2021 (the “5.0% 2021 Notes”) and the 2.0% Senior Secured Notes due 2021 (the “2.0% 2021 Notes” and together with the 5.0% 2021 Notes, the “2021 Notes”) are guaranteed by K. Hovnanian JV Holdings, L.L.C. and its subsidiaries except for certain joint ventures and joint venture holding companies (collectively, the “Secured Group”). Members of the Secured Group do not guarantee K. Hovnanian's other indebtedness. The indentures governing the notes do not contain any financial maintenance covenants, but do contain restrictive covenants that limit, among other things, the Company’s ability and that of certain of its subsidiaries, including K. Hovnanian, to incur additional indebtedness (other than certain permitted indebtedness, refinancing indebtedness and nonrecourse indebtedness), pay dividends and make distributions on common and preferred stock, repurchase subordinated indebtedness (with respect to certain of the senior secured and senior notes), make other restricted payments, make investments, sell certain assets, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all assets, and enter into certain transactions with affiliates. The indentures also contain events of default which would permit the holders of the notes to declare the notes to be immediately due and payable if not cured within applicable grace periods, including the failure to make timely payments on the notes or other material indebtedness, the failure to comply with agreements and covenants and specified events of bankruptcy and insolvency and, with respect to the indentures governing the senior secured notes, the failure of the documents granting security for the senior secured notes to be in full force and effect, and the failure of the liens on any material portion of the collateral securing the senior secured notes to be valid and perfected. As of April 30, 2016, we believe we were in compliance with the covenants of the indentures governing our outstanding notes. Under the terms of the indentures, we have the right to make certain redemptions and, depending on market conditions and covenant restrictions, may do so from time to time. We also continue to evaluate our capital structure and may also continue to make debt purchases and/or exchanges for debt or equity from time to time through tender offers, open market purchases, private transactions, or otherwise, or seek to raise additional debt or equity capital, depending on market conditions and covenant restrictions. If our consolidated fixed charge coverage ratio, as defined in the indentures governing our senior secured and senior notes (other than the senior exchangeable notes discussed in Note 12 below), is less than 2.0 to 1.0, we are restricted from making certain payments, including dividends, and from incurring indebtedness other than certain permitted indebtedness, (currently, however, our ability to incur additional permitted indebtedness is limited and we expect it to be limited for the foreseeable future) refinancing indebtedness, and nonrecourse indebtedness. As a result of this ratio restriction, we are currently restricted from paying dividends, which are not cumulative, on our 7.625% Series A Preferred Stock. We anticipate that we will continue to be restricted from paying dividends for the foreseeable future. Our inability to pay dividends is in accordance with covenant restrictions and will not result in a default under our debt instruments or otherwise affect compliance with any of the covenants contained in our debt instruments. The 7.25% Senior Secured First Lien Notes due 2020 (the “First Lien Notes”) are secured by a first-priority lien and the 9.125% Senior Secured Second Lien Notes due 2020 (the “Second Lien Notes” and, together with the First Lien Notes, the “2020 Secured Notes”) are secured by a second-priority lien, in each case, subject to permitted liens and other exceptions, on substantially all the assets owned by us, K. Hovnanian and the guarantors of such notes. At April 30, 2016, the aggregate book value of the real property that constituted collateral securing the 2020 Secured Notes was approximately $685.1 million, which does not include the impact of inventory investments, home deliveries or impairments thereafter and which may differ from the value if it were appraised. In addition, cash and cash equivalents collateral that secured the 2020 Secured Notes was $106.4 million as of April 30, 2016, which included $2.3 million of restricted cash collateralizing certain letters of credit. Subsequent to such date, fluctuations as a result of cash uses include general business operations and real estate and other investments along with cash inflow primarily from deliveries. The guarantees with respect to the 2021 Notes of the Secured Group are secured, subject to permitted liens and other exceptions, by a first-priority lien on substantially all of the assets of the members of the Secured Group. As of April 30, 2016, the collateral securing the guarantees included (1) $16.5 million of cash and cash equivalents (subsequent to such date, fluctuations as a result of cash uses include general business operations and real estate and other investments along with cash inflow primarily from deliveries); (2) $153.9 million aggregate book value of real property of the Secured Group, which does not include the impact of inventory investments, home deliveries or impairments thereafter and which may differ from the value if it were appraised, and (3) equity interests in guarantors that are members of the Secured Group. Members of the Secured Group also own equity in joint ventures, either directly or indirectly through ownership of joint venture holding companies, with a book value of $66.3 million as of April 30, 2016; this equity is not pledged to secure, and is not collateral for, the 2021 Notes. Members of the Secured Group are “unrestricted subsidiaries” under K. Hovnanian's other senior notes and senior secured notes, and thus have not guaranteed such indebtedness. On November 5, 2014, K. Hovnanian issued $250.0 million aggregate principal amount of 8.0% Senior Notes due 2019, resulting in net proceeds of $245.7 million. These proceeds were used for general corporate purposes. The notes will mature on November 1, 2019. The notes are redeemable in whole or in part at K. Hovnanian’s option at any time prior to August 1, 2019 at a redemption price equal to 100% of their principal amount plus an applicable “Make-Whole Amount.” At any time and from time to time on or after August 1, 2019, K. Hovnanian may also redeem some or all of the notes at a redemption price equal to 100% of their principal amount. On January 15, 2016, $172.7 million principal amount of our 6.25% Senior Notes due 2016 matured and was paid. In the third quarter of fiscal 2016, on May 15, 2016, $86.5 million principal amount of our 7.5% Senior Notes due 2016 matured and was paid. We have $121.0 million principal amount of our 8.625% Senior Notes due on January 15, 2017. While our preference is to refinance these notes, in light of current availability of debt financing in the capital and loan markets to companies with comparable credit ratings, we may not be able to refinance these obligations or do so at an attractive rate. In this situation, we currently believe we will have sufficient liquidity from our operations and our planned reduction of our geographic operating footprint (as described below) to enable us to pay these notes at maturity. However, depending on market conditions, we may also need to reduce or delay investments or consider other liquidity-enhancing measures such as new land banking arrangements, an increase in joint venture activity and/or project specific financings and model sale leasebacks. As a result of our evaluation of our geographic operating footprint as it relates to our strategic objectives, we decided to exit the Minneapolis, MN and Raleigh, NC markets, and in the third quarter of fiscal 2016, we completed the sale of our land portfolios in those markets. We have also decided to wind down our operations in the San Francisco Bay area in Northern California and in Tampa, FL by building and delivering homes to sell through our existing land position. Any other liquidity-enhancing transaction will depend on identifying counterparties, negotiation of documentation and applicable closing conditions and any required approvals. Due to covenant restrictions in our debt instruments, we are currently limited in the amount of debt we can incur that does not qualify as refinancing indebtedness (a limitation that we expect to continue for the foreseeable future), even if market conditions would otherwise be favorable, which could also impact our ability to grow our business.

Note 12 - Senior Exchangeable N

Note 12 - Senior Exchangeable Notes	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Exchangeable Note Units and Senior Amortizing Notes [Text Block]	12. Senior Exchangeable Notes On October 2, 2012, the Company and K. Hovnanian issued $100,000,000 aggregate stated amount of 6.0% Exchangeable Note Units (the “Units”) (equivalent to 100,000 Units). Each $1,000 stated amount of Units initially consists of (1) a zero coupon senior exchangeable note due December 1, 2017 (a “Senior Exchangeable Note”) issued by K. Hovnanian, which bears no cash interest and has an initial principal amount of $768.51 per Senior Exchangeable Note, and that will accrete to $1,000 at maturity and (2) a senior amortizing note due December 1, 2017 (a “Senior Amortizing Note”) issued by K. Hovnanian, which has an initial principal amount of $231.49 per Senior Amortizing Note, bears interest at a rate of 11.0% per annum, and has a final installment payment date of December 1, 2017. Each Unit may be separated into its constituent Senior Exchangeable Note and Senior Amortizing Note after the initial issuance date of the Units, and the separate components may be combined to create a Unit. Each Senior Exchangeable Note had an initial principal amount of $768.51 (which will accrete to $1,000 over the term of the Senior Exchangeable Note at an annual rate of 5.17% from the date of issuance, calculated on a semi-annual bond equivalent yield basis). Holders may exchange their Senior Exchangeable Notes at their option at any time prior to 5:00 p.m., New York City time, on the business day immediately preceding December 1, 2017. Each Senior Exchangeable Note will be exchangeable for shares of Class A Common Stock at an initial exchange rate of 185.5288 shares of Class A Common Stock per Senior Exchangeable Note (equivalent to an initial exchange price, based on $1,000 principal amount at maturity, of approximately $5.39 per share of Class A Common Stock). The exchange rate will be subject to adjustment in certain events. If certain corporate events occur prior to the maturity date, the Company will increase the applicable exchange rate for any holder who elects to exchange its Senior Exchangeable Notes in connection with such corporate event. In addition, holders of Senior Exchangeable Notes will also have the right to require K. Hovnanian to repurchase such holders’ Senior Exchangeable Notes upon the occurrence of certain of these corporate events. As of April 30, 2016, 18,305 Senior Exchangeable Notes have been converted into 3.4 million shares of our Class A Common Stock, all of which were converted during the first quarter of fiscal 2013. On each June 1 and December 1 (each, an “installment payment date”), K. Hovnanian will pay holders of Senior Amortizing Notes equal semi-annual cash installments of $30.00 per Senior Amortizing Note (except for the June 1, 2013 installment payment, which was $39.83 per Senior Amortizing Note), which cash payment in the aggregate will be equivalent to 6.0% per year with respect to each $1,000 stated amount of Units. Each installment will constitute a payment of interest (at a rate of 11.0% per annum) and a partial repayment of principal on the Senior Amortizing Note. Following certain corporate events that occur prior to the maturity date, holders of the Senior Amortizing Notes will have the right to require K. Hovnanian to repurchase such holders’ Senior Amortizing Notes.

Note 13 - Per Share Calculation

Note 13 - Per Share Calculation	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	13. Per Share Calculation Basic earnings per share is computed by dividing net income (loss) (the “numerator”) by the weighted-average number of common shares outstanding, adjusted for nonvested shares of restricted stock (the “denominator”) for the period. Computing diluted earnings per share is similar to computing basic earnings per share, except that the denominator is increased to include the dilutive effects of options and nonvested shares of restricted stock, as well as common shares issuable upon exchange of our Senior Exchangeable Notes issued as part of our 6.0% Exchangeable Note Units. Any options that have an exercise price greater than the average market price are considered to be anti-dilutive and are excluded from the diluted earnings per share calculation. All outstanding nonvested shares that contain nonforfeitable rights to dividends or dividend equivalents that participate in undistributed earnings with common stock are considered participating securities and are included in computing earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and participation rights in undistributed earnings in periods when we have net income. The Company’s restricted common stock (“nonvested shares”) are considered participating securities. Incremental shares attributed to nonvested stock and outstanding options to purchase common stock of 0.3 million for the six months ended April 30, 2015 were excluded from the computation of diluted earnings per share because we had a net loss for the period, and any incremental shares would not be dilutive. There were no incremental shares attributed to nonvested stock and outstanding options to purchase common stock for the three and six months ended April 30, 2016 and the three months ended April 30, 2015. Also, for both the three and six months ended April 30, 2016 and 2015, 15.2 million shares of common stock issuable upon the exchange of our Senior Exchangeable Notes (which were issued in fiscal 2012) were excluded from the computation of diluted earnings per share because we had net losses for the periods. In addition, shares related to out-of-the money stock options that could potentially dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share were 6.4 million for both the three and six months ended April 30, 2016, and 3.3 million for the three and six months ended April 30, 2015 because to do so would have been anti-dilutive for the periods presented.

Note 14 - Preferred Stock

Note 14 - Preferred Stock	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Preferred Stock [Text Block]	14. Preferred Stock On July 12, 2005, we issued 5,600 shares of 7.625% Series A Preferred Stock, with a liquidation preference of $25,000 per share. Dividends on the Series A Preferred Stock are not cumulative and are paid at an annual rate of 7.625%. The Series A Preferred Stock is not convertible into the Company’s common stock and is redeemable in whole or in part at our option at the liquidation preference of the shares. The Series A Preferred Stock is traded as depositary shares, with each depositary share representing 1/1000th of a share of Series A Preferred Stock. The depositary shares are listed on the NASDAQ Global Market under the symbol “HOVNP.” During the three and six months ended April 30, 2016 and 2015, we did not pay any dividends on the Series A Preferred Stock due to covenant restrictions in our debt instruments.

Note 15 - Common Stock

Note 15 - Common Stock	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Common Stock [Text Block]	15. Common Stock Each share of Class A Common Stock entitles its holder to one vote per share, and each share of Class B Common Stock generally entitles its holder to ten votes per share. The amount of any regular cash dividend payable on a share of Class A Common Stock will be an amount equal to 110% of the corresponding regular cash dividend payable on a share of Class B Common Stock. If a shareholder desires to sell shares of Class B Common Stock, such stock must be converted into shares of Class A Common Stock. On August 4, 2008, our Board of Directors adopted a shareholder rights plan (the “Rights Plan”) designed to preserve shareholder value and the value of certain tax assets primarily associated with net operating loss (NOL) carryforwards and built-in losses under Section 382 of the Internal Revenue Code. Our ability to use NOLs and built-in losses would be limited if there was an “ownership change” under Section 382. This would occur if shareholders owning (or deemed under Section 382 to own) 5% or more of our stock increase their collective ownership of the aggregate amount of our outstanding shares by more than 50 percentage points over a defined period of time. The Rights Plan was adopted to reduce the likelihood of an “ownership change” occurring as defined by Section 382. Under the Rights Plan, one right was distributed for each share of Class A Common Stock and Class B Common Stock outstanding as of the close of business on August 15, 2008. Effective August 15, 2008, if any person or group acquires 4.9% or more of the outstanding shares of Class A Common Stock without the approval of the Board of Directors, there would be a triggering event causing significant dilution in the voting power of such person or group. However, existing stockholders who owned, at the time of the Rights Plan’s adoption, 4.9% or more of the outstanding shares of Class A Common Stock will trigger a dilutive event only if they acquire additional shares. The approval of the Board of Directors’ decision to adopt the Rights Plan may be terminated by the Board of Directors at any time, prior to the Rights being triggered. The Rights Plan will continue in effect until August 15, 2018, unless it expires earlier in accordance with its terms. The approval of the Board of Directors’ decision to adopt the Rights Plan was submitted to a stockholder vote and approved at a special meeting of stockholders held on December 5, 2008. Also at the Special Meeting on December 5, 2008, our stockholders approved an amendment to our Certificate of Incorporation to restrict certain transfers of Class A Common Stock in order to preserve the tax treatment of our NOLs and built-in losses under Section 382 of the Internal Revenue Code. Subject to certain exceptions pertaining to pre-existing 5% stockholders and Class B stockholders, the transfer restrictions in the amended Certificate of Incorporation generally restrict any direct or indirect transfer (such as transfers of our stock that result from the transfer of interests in other entities that own our stock) if the effect would be to (i) increase the direct or indirect ownership of our stock by any person (or public group) from less than 5% to 5% or more of our common stock; (ii) increase the percentage of our common stock owned directly or indirectly by a person (or public group) owning or deemed to own 5% or more of our common stock; or (iii) create a new public group. Transfers included under the transfer restrictions include sales to persons (or public groups) whose resulting percentage ownership (direct or indirect) of common stock would exceed the 5% thresholds discussed above, or to persons whose direct or indirect ownership of common stock would by attribution cause another person (or public group) to exceed such threshold. On July 3, 2001, our Board of Directors authorized a stock repurchase program to purchase up to 4 million shares of Class A Common Stock. There were no shares purchased during the three and six months ended April 30, 2016. As of April 30, 2016, the maximum number of shares of Class A Common Stock that may yet be purchased under this program is 0.5 million.

Note 16 - Income Taxes

Note 16 - Income Taxes	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	16. Income Taxes The total income tax benefit of $9.1 million and $6.2 million for the three and six months ended April 30, 2016, respectively, was primarily due to deferred taxes, partially offset by state tax expenses and state tax reserves for uncertain tax positions. The six months ended April 30, 2016 was also impacted by permanent differences between book income and taxable income as a result of the issuance of shares under a deferred compensation plan that were expensed during vesting at significantly higher value than the value at the time of issuance. The total income tax benefit of $9.9 million and $15.2 million recognized for the three and six months ended April 30, 2015, respectively, was primarily due to deferred taxes, partially offset by state tax expenses and state tax reserves for uncertain tax positions. Deferred federal and state income tax assets primarily represent the deferred tax benefits arising from temporary differences between book and tax income which will be recognized in future years as an offset against future taxable income. If the combination of future years’ income (or loss) and the reversal of the timing differences results in a loss, such losses can be carried forward to future years. In accordance with ASC 740, we evaluate our deferred tax assets quarterly to determine if valuation allowances are required. ASC 740 requires that companies assess whether valuation allowances should be established based on the consideration of all available evidence using a “more likely than not” standard. As of October 31, 2015, and again at April 30, 2016, we concluded that it was more likely than not that a substantial amount of our deferred tax assets (“DTA”) would be utilized. This conclusion was based on a detailed evaluation of all relevant evidence, both positive and negative. The positive evidence included factors such as positive earnings for two of the last three fiscal years and the expectation of earnings going forward over the long term and evidence of a sustained recovery in the housing markets in which we operate. Such evidence is supported by significant increases in key financial indicators over the last few years, including new orders, backlog, and community count compared with the prior years. Economic data has also been affirming the housing market recovery. Housing starts, homebuilding volume and prices are increasing and forecasted to continue to increase. Historically low mortgage rates, affordable home prices, reduced foreclosures and a favorable home ownership to rental comparison are key factors in the recovery. Potentially offsetting this positive evidence is the fact that we had a loss before income taxes for the fiscal year ended October 31, 2015 as well as for the six months ended April 30, 2016. However, we are not in a three year cumulative loss position as of April 30, 2016. As per ASC 740, cumulative losses are one of the most objectively verifiable forms of negative evidence; we no longer have this negative evidence and we expect to be profitable going forward over the long term. Our recent three years cumulative performance and our expectations for the coming years based on our current backlog, community count and recent sales contracts provide evidence that reaffirms our conclusion that a full valuation allowance was not necessary and that the current valuation allowance for deferred taxes of $635.4 million as of April 30, 2016 is appropriate.

Note 17 - Operating and Reporti

Note 17 - Operating and Reporting Segments	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	17. Operating and Reporting Segments Our operating segments are components of our business for which discrete financial information is available and reviewed regularly by the chief operating decision maker, our Chief Executive Officer, to evaluate performance and make operating decisions. Based on this criteria, each of our communities qualifies as an operating segment, and therefore, it is impractical to provide segment disclosures for this many segments. As such, we have aggregated the homebuilding operating segments into six reportable segments. Our homebuilding operating segments are aggregated into reportable segments based primarily upon geographic proximity, similar regulatory environments, land acquisition characteristics and similar methods used to construct and sell homes. Our reportable segments consist of the following six homebuilding segments and a financial services segment: Homebuilding: (1) Northeast (New Jersey and Pennsylvania) (2) Mid-Atlantic (Delaware, Maryland, Virginia, Washington D.C. and West Virginia) (3) Midwest (Illinois, Minnesota and Ohio) (4) Southeast (Florida, Georgia, North Carolina and South Carolina) (5) Southwest (Arizona and Texas) (6) West (California) Financial Services Operations of the Company’s Homebuilding segments primarily include the sale and construction of single-family attached and detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. In addition, from time to time, operations of the homebuilding segments include sales of land. Operations of the Company’s Financial Services segment include mortgage banking and title services provided to the homebuilding operations’ customers. We do not typically retain or service mortgages that we originate but rather sell the mortgages and related servicing rights to investors. Corporate and unallocated primarily represents operations at our headquarters in Red Bank, New Jersey. This includes our executive offices, information services, human resources, corporate accounting, training, treasury, process redesign, internal audit, construction services, and administration of insurance, quality and safety. It also includes interest income and interest expense resulting from interest incurred that cannot be capitalized in inventory in the Homebuilding segments, as well as the gains or losses on extinguishment of debt from any debt repurchases or exchanges. Evaluation of segment performance is based primarily on operating earnings from continuing operations before provision for income taxes (“Income (loss) before income taxes”). Income (loss) before income taxes for the Homebuilding segments consist of revenues generated from the sales of homes and land, income (loss) from unconsolidated entities, management fees and other income, less the cost of homes and land sold, selling, general and administrative expenses and interest expense. Income before income taxes for the Financial Services segment consist of revenues generated from mortgage financing, title insurance and closing services, less the cost of such services and selling, general and administrative expenses incurred by the Financial Services segment. Operational results of each segment are not necessarily indicative of the results that would have occurred had the segment been an independent stand-alone entity during the periods presented. Financial information relating to the Company’s segment operations was as follows: Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Revenues: Northeast $54,046 $39,274 $126,550 $90,004 Mid-Atlantic 89,987 76,777 183,807 157,962 Midwest 84,631 73,256 176,551 137,695 Southeast 51,298 49,275 90,550 87,169 Southwest 276,735 190,427 481,060 357,614 West 81,095 27,522 136,673 60,715 Total homebuilding 637,792 456,531 1,195,191 891,159 Financial services 17,003 12,457 35,229 23,579 Corporate and unallocated (72 ) (39 ) (92 ) (75 ) Total revenues $654,723 $468,949 $1,230,328 $914,663 (Loss) income before income taxes: Northeast $(6,684 ) $(3,812 ) $(3,950 ) $(6,965 ) Mid-Atlantic 1,072 (178 ) 3,694 4,999 Midwest (23 ) 1,210 (5,582 ) 4,921 Southeast (7,255 ) (1,202 ) (9,089 ) (2,358 ) Southwest 18,491 14,022 34,860 25,347 West (4,318 ) (8,963 ) (10,286 ) (11,336 ) Homebuilding income before income taxes 1,283 1,077 9,647 14,608 Financial services 7,385 4,949 17,396 8,754 Corporate and unallocated (26,272 ) (35,507 ) (57,841 ) (72,523 ) Loss before income taxes $(17,604 ) $(29,481 ) $(30,798 ) $(49,161 ) (In thousands) April 30, 2016 October 31, 2015 Assets: Northeast $287,781 $321,983 Mid-Atlantic 355,629 342,159 Midwest 169,786 197,899 Southeast 281,694 223,206 Southwest 454,939 465,740 West 298,220 259,943 Total homebuilding 1,848,049 1,810,930 Financial services 160,712 159,981 Corporate and unallocated(1) 509,866 631,387 Total assets $2,518,627 $2,602,298 (1) Includes $294.1 million and $290.3 million of income taxes receivable, including deferred tax assets, as of April 30, 2016 and October 31, 2015, respectively.

Note 18 - Investments in Uncons

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	18. Investments in Unconsolidated Homebuilding and Land Development Joint Ventures We enter into homebuilding and land development joint ventures from time to time as a means of accessing lot positions, expanding our market opportunities, establishing strategic alliances, managing our risk profile, leveraging our capital base and enhancing returns on capital. Our homebuilding joint ventures are generally entered into with third-party investors to develop land and construct homes that are sold directly to third-party home buyers. Our land development joint ventures include those entered into with developers and other homebuilders as well as financial investors to develop finished lots for sale to the joint venture’s members or other third parties. In November 2015, the Company entered into a new joint venture to which the company contributed a land parcel that had been mothballed by the company, but on which construction by the joint venture has now begun. Upon formation of the joint venture, the Company received $25.7 million of cash proceeds for the contributed land. The tables set forth below summarize the combined financial information related to our unconsolidated homebuilding and land development joint ventures that are accounted for under the equity method. (Dollars in thousands) April 30, 2016 Homebuilding Land Development Total Assets: Cash and cash equivalents $29,757 $1,642 $31,399 Inventories 400,785 11,692 412,477 Other assets 19,536 - 19,536 Total assets $450,078 $13,334 $463,412 Liabilities and equity: Accounts payable and accrued liabilities $39,591 $992 $40,583 Notes payable 116,852 3,319 120,171 Total liabilities 156,443 4,311 160,754 Equity of: Hovnanian Enterprises, Inc. 66,300 3,271 69,571 Others 227,335 5,752 233,087 Total equity 293,635 9,023 302,658 Total liabilities and equity $450,078 $13,334 $463,412 Debt to capitalization ratio 28 % 27 % 28 % (Dollars in thousands) October 31, 2015 Homebuilding Land Development Total Assets: Cash and cash equivalents $27,856 $1,755 $29,611 Inventories 314,814 11,767 326,581 Other assets 11,225 - 11,225 Total assets $353,895 $13,522 $367,417 Liabilities and equity: Accounts payable and accrued liabilities $29,994 $669 $30,663 Notes payable 112,554 3,774 116,328 Total liabilities 142,548 4,443 146,991 Equity of: Hovnanian Enterprises, Inc. 57,336 3,122 60,458 Others 154,011 5,957 159,968 Total equity 211,347 9,079 220,426 Total liabilities and equity $353,895 $13,522 $367,417 Debt to capitalization ratio 35 % 29 % 35 % As of April 30, 2016 and October 31, 2015, we had advances outstanding of $0.5 million and $0.8 million, respectively, to these unconsolidated joint ventures, which were included in the “Accounts payable and accrued liabilities” balances in the tables above. On our Condensed Consolidated Balance Sheets, our “Investments in and advances to unconsolidated joint ventures” amounted to $70 .1 million and $61.2 million at April 30, 2016 and October 31, 2015, respectively. For the Three Months Ended April 30, 2016 (In thousands) Homebuilding Land Development Total Revenues $25,760 $521 $26,281 Cost of sales and expenses (31,480 ) (96 ) (31,576 ) Joint venture net (loss) income $(5,720 ) $425 $(5,295 ) Our share of net (loss) income $(1,353 ) $213 $(1,140 ) For the Three Months Ended April 30, 2015 (In thousands) Homebuilding Land Development Total Revenues $27,648 $1,483 $29,131 Cost of sales and expenses (29,258 ) (1,722 ) (30,980 ) Joint venture net loss $(1,610 ) $(239 ) $(1,849 ) Our share of net income (loss) $1,465 $(119 ) $1,346 For the Six Months Ended April 30, 2016 (In thousands) Homebuilding Land Development Total Revenues $46,026 $1,617 $47,643 Cost of sales and expenses (55,659 ) (1,319 ) (56,978 ) Joint venture net (loss) income $(9,633 ) $298 $(9,335 ) Our share of net (loss) income $(2,849 ) $149 $(2,700 ) For the Six Months Ended April 30, 2015 (In thousands) Homebuilding Land Development Total Revenues $64,774 $2,615 $67,389 Cost of sales and expenses (59,117 ) (2,807 ) (61,924 ) Joint venture net income (loss) $5,657 $(192 ) $5,465 Our share of net income (loss) $2,932 $(96 ) $2,836 “(Loss) income from unconsolidated joint ventures” is reflected as a separate line in the accompanying Condensed Consolidated Statements of Operations and reflects our proportionate share of the income or loss of these unconsolidated homebuilding and land development joint ventures. The difference between our share of the income or loss from these unconsolidated joint ventures in the tables above compared to the Condensed Consolidated Statements of Operations is due primarily to the reclassification of the intercompany portion of management fee income from certain joint ventures and the deferral of income for lots purchased by us from certain joint ventures. To compensate us for the administrative services we provide as the manager of certain joint ventures we receive a management fee based on a percentage of the applicable joint venture’s revenues. These management fees, which totaled $1.1 million and $1.2 million for the three months ended April 30, 2016 and 2015, respectively, and $1.9 million and $2.4 million for the six months ended April 30, 2016 and 2015, respectively, are recorded in “Homebuilding: Selling, general and administrative” on the Condensed Consolidated Statement of Operations. In determining whether or not we must consolidate joint ventures that we manage, we assess whether the other partners have specific rights to overcome the presumption of control by us as the manager of the joint venture. In most cases, the presumption is overcome because the joint venture agreements require that both partners agree on establishing the operations and capital decisions of the partnership, including budgets in the ordinary course of business. Typically, our unconsolidated joint ventures obtain separate project specific mortgage financing. The amount of financing is generally targeted to be no more than 50% of the joint venture’s total assets. For some of our joint ventures, obtaining financing was challenging, therefore, some of our joint ventures are capitalized only with equity. The total debt to capitalization ratio of all our joint ventures is currently 28%. Any joint venture financing is on a nonrecourse basis, with guarantees from us limited only to performance and completion of development, environmental warranties and indemnification, standard indemnification for fraud, misrepresentation and other similar actions, including a voluntary bankruptcy filing. In some instances, the joint venture entity is considered a VIE under ASC 810-10 “Consolidation – Overall” due to the returns being capped to the equity holders; however, in these instances, we have determined that we are not the primary beneficiary, and therefore we do not consolidate these entities.

Note 19 - Recent Accounting Pro

Note 19 - Recent Accounting Pronouncements	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	19. Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (Topic 606), (“ASU 2014-09”). ASU 2014-09 requires entities to recognize revenue that represents the transfer of promised goods or services to customers in an amount equivalent to the consideration to which the entity expects to be entitled to in exchange for those goods or services. The following steps should be applied to determine this amount: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 supersedes the revenue recognition requirements in ASU 605, “Revenue Recognition,” and most industry-specific guidance in the Accounting Standards Codification. In August 2015, the FASB issued ASU 2015-14 on this same topic, which defers for one year the effective date of ASU 2014-09, therefore making the guidance effective for the Company beginning November 1, 2018. Additionally, the FASB also decided to permit entities to early adopt the standard, which allows for either full retrospective or modified retrospective methods of adoption, for reporting periods beginning after December 15, 2016. We are currently evaluating the impact of adopting this guidance on our Condensed Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to perform interim and annual assessments on whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year of the date the financial statements are issued and to provide related disclosures, if required. ASU 2014-15 is effective for the Company for our fiscal year ending October 31, 2017. Early adoption is permitted. We do not anticipate the adoption of ASU 2014-15 to have a material impact on the Company’s Condensed Consolidated Financial Statements. In February 2015, the FASB issued ASU 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”), which amends the consolidation requirements in ASC 810, primarily related to limited partnerships and VIEs. ASU 2015-02 is effective for the Company beginning on November 1, 2016. Early adoption is permitted. We do not anticipate the adoption of ASU 2015-02 to have a material impact on the Company’s Condensed Consolidated Financial Statements. In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest” (“ASU 2015-03”), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This new guidance is a change from the current treatment of recording debt issuance costs as an asset representing a deferred charge, and is consistent with the accounting treatment for debt discounts. The guidance, which requires retrospective application, is effective for the Company beginning November 1, 2016. Early adoption is permitted. The adoption of ASU 2015-03 will result in reclassification of our deferred bond issuance costs from assets to an offset of our notes payable on the Company’s Consolidated Financial Statements. Additionally, in August 2015, as a follow-up to ASU 2015-03, the FASB issued ASU 2015-15 “Interest – Imputation of Interest (Subtopic 835-30)” (“ASU 2015-15”). ASU 2015-15 addresses the presentation of debt issuance costs for line-of-credit arrangements, allowing an entity to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The adoption of ASU 2015-15 will be concurrent with the adoption of ASU 2015-03. The Company does not expect ASU 2015-15 to have a material impact on the Company’s Condensed Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” (“ASU 2016-02”), which provides guidance for accounting for leases. ASU 2016-02 requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight line basis over the term of the lease. Accounting for lessors remains largely unchanged from current GAAP. ASU 2016-02 is effective for the Company beginning November 1, 2019. Early adoption is permitted. We are currently evaluating the impact of adopting this guidance on our Condensed Consolidated Financial Statements. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 simplifies several aspects related to the accounting for share-based payment transactions, including the accounting for income taxes, statutory tax withholding requirements and classification on the statement of cash flows. ASU 2016-09 is effective for the Company’s fiscal year beginning November 1, 2017. Early adoption is permitted and the Company elected to adopt ASU 2016-09 in the second quarter of fiscal 2016. The adoption did not have a material impact on the Company’s Condensed Consolidated Financial Statements.

Note 20 - Fair Value of Financi

Note 20 - Fair Value of Financial Instruments	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	20. Fair Value of Financial Instruments ASC 820, “Fair Value Measurements and Disclosures,” provides a framework for measuring fair value, expands disclosures about fair-value measurements and establishes a fair-value hierarchy which prioritizes the inputs used in measuring fair value summarized as follows: Level 1: Fair value determined based on quoted prices in active markets for identical assets. Level 2: Fair value determined using significant other observable inputs. Level 3: Fair value determined using significant unobservable inputs. Our financial instruments measured at fair value on a recurring basis are summarized below: (In thousands) Fair Value Hierarchy Fair Value at April 30, 2016 Fair Value at October 31, 2015 Mortgage loans held for sale (1) Level 2 $130,017 $129,818 Interest rate lock commitments Level 2 23 (7 ) Forward contracts Level 2 (41 ) 509 Total $129,999 $130,320 (1) The aggregate unpaid principal balance was $118.4 million and $122.7 million at April 30, 2016 and October 31, 2015, respectively. We elected the fair value option for our loans held for sale for mortgage loans originated subsequent to October 31, 2008, in accordance with ASC 825, “Financial Instruments,” which permits us to measure financial instruments at fair value on a contract-by-contract basis. Management believes that the election of the fair value option for loans held for sale improves financial reporting by mitigating volatility in reported earnings caused by measuring the fair value of the loans and the derivative instruments used to economically hedge them without having to apply complex hedge accounting provisions. Fair value of loans held for sale is based on independent quoted market prices, where available, or the prices for other mortgage loans with similar characteristics. The Financial Services segment had a pipeline of loan applications in process of $798.5 million at April 30, 2016. Loans in process for which interest rates were committed to the borrowers totaled $60.1 million as of April 30, 2016. Substantially all of these commitments were for periods of 60 days or less. Since a portion of these commitments is expected to expire without being exercised by the borrowers, the total commitments do not necessarily represent future cash requirements. The Financial Services segment uses investor commitments and forward sales of mandatory MBS to hedge its mortgage-related interest rate exposure. These instruments involve, to varying degrees, elements of credit and interest rate risk. Credit risk is managed by entering into MBS forward commitments, option contracts with investment banks, federally regulated bank affiliates and loan sales transactions with permanent investors meeting the segment’s credit standards. The segment’s risk, in the event of default by the purchaser, is the difference between the contract price and fair value of the MBS forward commitments and option contracts. At April 30, 2016, the segment had open commitments amounting to $27.5 million to sell MBS with varying settlement dates through May 23, 2016. The assets accounted for using the fair value option are initially measured at fair value. Gains and losses from initial measurement and subsequent changes in fair value are recognized in the Financial Services segment’s income. The changes in fair values that are included in income are shown, by financial instrument and financial statement line item, below: Three Months Ended April 30, 2016 (In thousands) Mortgage Loans Held For Sale Interest Rate Lock Commitments Forward Contracts Changes in fair value included in net loss all reflected in financial services revenues $(1,178 ) $(377 ) $593 Three Months Ended April 30, 2015 (In thousands) Mortgage Loans Held For Sale Interest Rate Lock Commitments Forward Contracts Changes in fair value included in net loss all reflected in financial services revenues $(233 ) $(325 ) $880 Six Months Ended April 30, 2016 (In thousands) Mortgage Loans Held For Sale Interest Rate Lock Commitments Forward Contracts Changes in fair value included in net loss all reflected in financial services revenues $3,829 $30 $(550 ) Six Months Ended April 30, 2015 (In thousands) Mortgage Loans Held For Sale Interest Rate Lock Commitments Forward Contracts Changes in fair value included in net loss all reflected in financial services revenues $(173 ) $(59 ) $498 The Company’s assets measured at fair value on a nonrecurring basis are those assets for which the Company has recorded valuation adjustments and write-offs during the periods presented. The assets measured at fair value on a nonrecurring basis are all within the Company’s Homebuilding operations and are summarized below: Nonfinancial Assets Three Months Ended April 30, 2016 (In thousands) Fair Value Hierarchy Pre-Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $15,710 $(4,730 ) $10,980 Land and land options held for future development or sale Level 3 $1,012 $(646 ) $366 Three Months Ended April 30, 2015 (In thousands) Fair Value Hierarchy Pre-Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $11,055 $(3,543 ) $7,512 Land and land options held for future development or sale Level 3 $- $- $- Six Months Ended April 30, 2016 (In thousands) Fair Value Hierarchy Pre-Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $44,238 $(14,399 ) $29,839 Land and land options held for future development or sale Level 3 $1,169 $(694 ) $475 Six Months Ended April 30, 2015 (In thousands) Fair Value Hierarchy Pre-Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $16,756 $(4,466 ) $12,290 Land and land options held for future development or sale Level 3 $- $- $- We record impairment losses on inventories related to communities under development and held for future development when events and circumstances indicate that they may be impaired and the undiscounted cash flows estimated to be generated by those assets are less than their related carrying amounts. If the expected undiscounted cash flows are less than the carrying amount, then the community is written down to its fair value. We estimate the fair value of each impaired community by determining the present value of its estimated future cash flows at a discount rate commensurate with the risk of the respective community. Should the estimates or expectations used in determining cash flows or fair value decrease or differ from current estimates in the future, we may be required to recognize additional impairments. We recorded inventory impairments, which are included in the Condensed Consolidated Statements of Operations as “Inventory impairment loss and land option write-offs” and deducted from Inventory of $5.4 million and $15.1 million for the three and six months ended April 30, 2016, respectively, and $3.5 million and $4.4 million for the three and six months ended April 30, 2015, respectively. The fair value of our cash equivalents, restricted cash and cash equivalents and borrowings under the revolving credit facility approximates their carrying amount, based on Level 1 inputs. The fair value of each series of the senior unsecured notes (other than the senior exchangeable notes and the senior amortizing notes) is estimated based on recent trades or quoted market prices for the same issues or based on recent trades or quoted market prices for our debt of similar security and maturity to achieve comparable yields, which are Level 2 measurements. The fair value of the senior unsecured notes (all series in the aggregate), other than the senior exchangeable notes and senior amortizing notes, was estimated at $487.5 million and $689.6 million as of April 30, 2016 and October 31, 2015, respectively. The fair value of each of the senior secured notes (all series in the aggregate), the senior amortizing notes and the senior exchangeable notes is estimated based on third party broker quotes, a Level 3 measurement. The fair value of the senior secured notes (all series in the aggregate), the senior amortizing notes and the senior exchangeable notes were estimated at $809.2 million, $10.5 million and $64.0 million, respectively, as of April 30, 2016. As of October 31, 2015, the fair value of the senior secured notes (all series in the aggregate), the senior amortizing notes and the senior exchangeable notes were estimated at $869.4 million, $12.8 million and $69.0 million, respectively.

Note 21 - Financial Information

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Condensed Financial Statements [Text Block]	21. Financial Information of Subsidiary Issuer and Subsidiary Guarantors Hovnanian Enterprises, Inc., the parent company (the “Parent”), is the issuer of publicly traded common stock and preferred stock, which is represented by depository shares. One of its wholly owned subsidiaries, K. Hovnanian Enterprises, Inc. (the “Subsidiary Issuer”), acts as a finance entity that, as of April 30, 2016, had issued and outstanding $992.0 million of senior secured notes ($982.1 million, net of discount), $607.6 million senior notes and $10.5 million senior amortizing notes and $75.7 million senior exchangeable notes (issued as components of our 6.0% Exchangeable Note Units). The senior secured notes, senior notes, senior amortizing notes and senior exchangeable notes are fully and unconditionally guaranteed by the Parent. In addition to the Parent, each of the wholly owned subsidiaries of the Parent other than the Subsidiary Issuer (collectively, “Guarantor Subsidiaries”), with the exception of our home mortgage subsidiaries, certain of our title insurance subsidiaries, joint ventures, subsidiaries holding interests in our joint ventures and our foreign subsidiary (collectively, the “Nonguarantor Subsidiaries”), have guaranteed fully and unconditionally, on a joint and several basis, the obligations of the Subsidiary Issuer to pay principal and interest under the senior secured notes (other than the 2021 Notes), senior notes, senior exchangeable notes and senior amortizing notes. The Guarantor Subsidiaries are directly or indirectly 100% owned subsidiaries of the Parent. The 2021 Notes are guaranteed by the Guarantor Subsidiaries and the members of the Secured Group (see Note 11). The senior unsecured notes (except for the 7.0% Senior Notes due 2019 (the “2019 Notes”) and the 8.0% Senior Notes due 2019), senior amortizing notes and senior exchangeable notes have been registered under the Securities Act of 1933, as amended (the “Act”). The 2019 Notes, the 8.0% Senior Notes due 2019, the 2020 Secured Notes and the 2021 Notes (see Note 11) are not, pursuant to the indentures under which such notes were issued, required to be registered under the Act. The Condensed Consolidating Financial Statements presented below are in respect of our registered notes only and not the 2019 Notes, the 8.0% Senior Notes due 2019, the 2020 Secured Notes or the 2021 Notes (however, the Guarantor Subsidiaries for the 2019 Notes, the 8.0% Senior Notes due 2019 and the 2020 Secured Notes are the same as those represented by the accompanying Condensed Consolidating Financial Statements). In lieu of providing separate financial statements for the Guarantor Subsidiaries of our registered notes, we have included the accompanying Condensed Consolidating Financial Statements. Therefore, separate financial statements and other disclosures concerning such Guarantor Subsidiaries are not presented. The following Condensed Consolidating Financial Statements present the results of operations, financial position and cash flows of (i) the Parent, (ii) the Subsidiary Issuer, (iii) the Guarantor Subsidiaries, (iv) the Nonguarantor Subsidiaries and (v) the eliminations to arrive at the information for Hovnanian Enterprises, Inc. on a consolidated basis. HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING BALANCE SHEET APRIL 30, 2016 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated ASSETS: Homebuilding $- $102,903 $1,474,850 $486,093 $- $2,063,846 Financial services 14,937 145,775 160,712 Income taxes receivable 140,353 (73,884 ) 227,575 25 294,069 Intercompany receivable 1,522,624 28,208 (1,550,832 ) - Investments in and amounts due from consolidated subsidiaries 414,580 (414,580 ) - Total assets $140,353 $1,551,643 $2,131,942 $660,101 $(1,965,412 ) $2,518,627 LIABILITIES AND EQUITY: Homebuilding $2,823 $73 $640,813 $125,561 $- $769,270 Financial services 14,580 122,126 136,706 Notes payable 1,760,690 4,030 253 1,764,973 Intercompany payable 174,877 1,375,955 (1,550,832 ) - Amounts due to consolidated subsidiaries 114,975 26,059 (141,034 ) - Stockholders’ (deficit) equity (152,322 ) (235,179 ) 96,564 412,161 (273,546 ) (152,322 ) Total liabilities and equity $140,353 $1,551,643 $2,131,942 $660,101 $(1,965,412 ) $2,518,627 HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING BALANCE SHEET OCTOBER 31, 2015 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated ASSETS: Homebuilding $- $230,358 $1,553,811 $367,869 $- $2,152,038 Financial services 15,680 144,301 159,981 Income taxes receivable 128,176 (89,212 ) 251,293 22 290,279 Intercompany receivable 1,575,712 58,280 (1,633,992 ) - Investments in and amounts due from consolidated subsidiaries 1,013 383,032 (384,045 ) - Total assets $128,176 $1,717,871 $2,203,816 $570,472 $(2,018,037 ) $2,602,298 LIABILITIES AND EQUITY: Homebuilding $3,076 $87 $588,854 $65,947 $- $657,964 Financial services 15,677 121,106 136,783 Notes payable 1,933,119 2,132 384 1,935,635 Intercompany payable 180,681 1,453,311 (1,633,992 ) - Amounts due to consolidated subsidiaries 72,503 (72,503 ) - Stockholders’ (deficit) equity (128,084 ) (215,335 ) 143,842 383,035 (311,542 ) (128,084 ) Total liabilities and equity $128,176 $1,717,871 $2,203,816 $570,472 $(2,018,037 ) $2,602,298 HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS THREE MONTHS ENDED APRIL 30, 2016 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $523,418 $114,302 $- $637,720 Financial services 2,676 14,327 17,003 Intercompany charges 26,567 (26,567 ) - Total revenues - 26,567 526,094 128,629 (26,567 ) 654,723 Expenses: Homebuilding (343 ) 33,396 525,553 102,757 661,363 Financial services 1,823 7,795 9,618 Intercompany charges 25,838 729 (26,567 ) - Total expenses (343 ) 33,396 553,214 111,281 (26,567 ) 670,981 (Loss) income from unconsolidated joint ventures 7 (1,353 ) (1,346 ) (Loss) income before income taxes 343 (6,829 ) (27,113 ) 15,995 - (17,604 ) State and federal income tax (benefit) provision (4,885 ) (8,410 ) 4,152 (9,143 ) Equity in (loss) income of consolidated subsidiaries (13,689 ) (13,562 ) 15,995 11,256 - Net (loss) income $(8,461 ) $(11,981 ) $(15,270 ) $15,995 $11,256 $(8,461 ) HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS THREE MONTHS ENDED APRIL 30, 2015 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $390,898 $65,594 $- $456,492 Financial services 1,935 10,522 12,457 Intercompany charges 31,873 66 (31,939 ) - Total revenues - 31,873 392,833 76,182 (31,939 ) 468,949 Expenses: Homebuilding 3,082 38,387 392,535 58,384 492,388 Financial services 20 1,556 5,932 7,508 Intercompany charges 31,939 (31,939 ) - Total expenses 3,102 38,387 426,030 64,316 (31,939 ) 499,896 Income from unconsolidated joint ventures 1,466 1,466 (Loss) income before income taxes (3,102 ) (6,514 ) (33,197 ) 13,332 - (29,481 ) State and federal income tax benefit (5,906 ) (4,016 ) (9,922 ) Equity in (loss) income of consolidated subsidiaries (22,363 ) (13,558 ) 13,332 22,589 - Net (loss) income $(19,559 ) $(20,072 ) $(15,849 ) $13,332 $22,589 $(19,559 ) HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS SIX MONTHS ENDED APRIL 30, 2016 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $998,328 $196,771 $- $1,195,099 Financial services 4,921 30,308 35,229 Intercompany charges 61,107 (61,107 ) - Total revenues - 61,107 1,003,249 227,079 (61,107 ) 1,230,328 Expenses: Homebuilding 1,597 69,207 992,173 177,490 1,240,467 Financial services 3,447 14,386 17,833 Intercompany charges 60,301 806 (61,107 ) - Total expenses 1,597 69,207 1,055,921 192,682 (61,107 ) 1,258,300 (Loss) income from unconsolidated joint ventures 23 (2,849 ) (2,826 ) (Loss) income before income taxes (1,597 ) (8,100 ) (52,649 ) 31,548 - (30,798 ) State and federal income tax (benefit) provision (19,435 ) (15,328 ) 28,599 (6,164 ) Equity in (loss) income of consolidated subsidiaries (42,472 ) (27,072 ) 31,548 37,996 - Net (loss) income $(24,634 ) $(19,844 ) $(49,700 ) $31,548 $37,996 $(24,634 ) HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS SIX MONTHS ENDED APRIL 30, 2015 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $756,087 $134,997 $- $891,084 Financial services 3,768 19,811 23,579 Intercompany charges 60,385 (60,385 ) - Total revenues - 60,385 759,855 154,808 (60,385 ) 914,663 Expenses: Homebuilding 6,793 76,215 750,044 118,865 951,917 Financial services 88 3,129 11,608 14,825 Intercompany charges 60,321 64 (60,385 ) - Total expenses 6,881 76,215 813,494 130,537 (60,385 ) 966,742 Income (loss) from unconsolidated joint ventures (14 ) 2,932 2,918 (Loss) income before income taxes (6,881 ) (15,830 ) (53,653 ) 27,203 - (49,161 ) State and federal income tax (benefit) provision (18,192 ) 2,966 (15,226 ) Equity in (loss) income of consolidated subsidiaries (45,246 ) (26,364 ) 27,203 44,407 - Net (loss) income $(33,935 ) $(42,194 ) $(29,416 ) $27,203 $44,407 $(33,935 ) HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS SIX MONTHS ENDED APRIL 30, 2016 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net (loss) income $(24,634 ) $(19,844 ) $(49,700 ) $31,548 $37,996 $(24,634 ) Adjustments to reconcile net (loss) income to net cash used in operating activities (12,034 ) 22,078 120,711 (99,312 ) (37,996 ) (6,553 ) Net cash (used in) provided by operating activities (36,668 ) 2,234 71,011 (67,764 ) - (31,187 ) Cash flows from investing activities: Proceeds from sale of property and assets 94 21 115 Purchase of property, equipment & other fixed assets and acquisitions (1,620 ) (31 ) (1,651 ) Increase in restricted cash related to mortgage company (204 ) (204 ) Decrease in restricted cash related to letters of credit 325 325 Investments in and advances to unconsolidated joint ventures (130 ) (990 ) (15,623 ) (16,743 ) Distributions of capital from unconsolidated joint ventures (186 ) 1,087 4,164 5,065 Intercompany investing activities 80,160 (80,160 ) - Net cash (used in) provided by investing activities - 80,169 (1,429 ) (11,673 ) (80,160 ) (13,093 ) Cash flows from financing activities: Net payments related to mortgages and notes (13,649 ) (5,490 ) (19,139 ) Net proceeds from model sale leaseback financing programs 3,179 (1,960 ) 1,219 Net proceeds from land bank financing programs 90,425 24,048 114,473 Payments related to senior notes and senior amortizing notes (175,040 ) (175,040 ) Borrowings from revolving credit facility 3,000 3,000 Net proceeds related to mortgage warehouse lines of credit 257 257 Deferred financing costs from land bank financing programs and note issuances (3,380 ) (1,201 ) (4,581 ) Intercompany financing activities 36,668 (146,900 ) 30,072 80,160 - Net cash (used in) provided by financing activities 36,668 (172,040 ) (70,325 ) 45,726 80,160 (79,811 ) Net decrease in cash - (89,637 ) (743 ) (33,711 ) - (124,091 ) Cash and cash equivalents balance, beginning of period 199,318 (4,800 ) 59,227 253,745 Cash and cash equivalents balance, end of period $- $109,681 $(5,543 ) $25,516 $- $129,654 HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS SIX MONTHS ENDED APRIL 30, 2015 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net (loss) income $(33,935 ) $(42,194 ) $(29,416 ) $27,203 $44,407 $(33,935 ) Adjustments to reconcile net (loss) income to net cash used in operating activities (7,989 ) 18,740 (101,623 ) (86,915 ) (44,407 ) (222,194 ) Net cash used in operating activities (41,924 ) (23,454 ) (131,039 ) (59,712 ) - (256,129 ) Cash flows from investing activities: Proceeds from sale of property and assets 952 31 983 Purchase of property, equipment & other fixed assets and acquisitions (1,172 ) (1,172 ) Decrease in restricted cash related to mortgage company 1,645 1,645 Investments in and advances to unconsolidated joint ventures 81 146 (15,766 ) (15,539 ) Distributions of capital from unconsolidated joint ventures (33 ) 339 7,039 7,345 Intercompany investing activities (165,853 ) 165,853 - Net cash (used in) provided by investing activities - (165,805 ) 265 (7,051 ) 165,853 (6,738 ) Cash flows from financing activities: Net proceeds from mortgages and notes 6,336 8,375 14,711 Net proceeds from model sale leaseback financing programs 11,746 1,595 13,341 Net payments related to land bank financing programs (9,124 ) (3,879 ) (13,003 ) Proceeds from senior notes 250,000 250,000 Net proceeds related to mortgage warehouse lines of credit 6,047 6,047 Deferred financing costs from land bank financing programs and note issuances (4,627 ) (1,016 ) (850 ) (6,493 ) Principal payments and debt repurchases (2,062 ) (2,062 ) Intercompany financing activities 41,924 124,498 (569 ) (165,853 ) - Net cash provided by (used in) financing activities 41,924 243,311 132,440 10,719 (165,853 ) 262,541 Net (decrease) increase in cash and cash equivalents - 54,052 1,666 (56,044 ) - (326 ) Cash and cash equivalents balance, beginning of period 159,508 (4,726 ) 107,116 261,898 Cash and cash equivalents balance, end of period $- $213,560 $(3,060 ) $51,072 $- $261,572

Note 22 - Transactions with Rel

Note 22 - Transactions with Related Parties	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	22. Transactions with Related Parties During the three months ended April 30, 2016 and 2015, an engineering firm owned by Tavit Najarian, a relative of our Chairman of the Board of Directors and Chief Executive Officer, provided services to the Company totaling $0.4 million and $0.2 million, respectively. During the six months ended April 30, 2016 and 2015, the services provided by such engineering firm to the Company totaled $0.7 million and $0.5 million, respectively. Neither the Company nor the Chairman of the Board of Directors and Chief Executive Officer has a financial interest in the relative’s company from whom the services were provided.

Note 23 - Subsequent Events

Note 23 - Subsequent Events	6 Months Ended
	Apr. 30, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	23. Subsequent Events In May 2016, we received an aggregate of $75.1 million in net cash proceeds from sales of our land portfolios in our Minnesota and North Carolina markets and from the contribution of land to a new joint venture. In addition, on May 15, 2016, all $86.5 million in aggregate principal amount of our 7.5% Senior Notes due 2016 matured and was paid.

Note 3 - Interest (Tables)

Note 3 - Interest (Tables)	6 Months Ended
	Apr. 30, 2016
Notes Tables
Schedule of Real Estate Inventory, Capitalized Interest Costs [Table Text Block]	Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Interest capitalized at beginning of period $117,113 $114,241 $123,898 $109,158 Plus interest incurred (1) 44,224 40,703 86,183 82,175 Less cost of sales interest expensed 21,444 12,013 38,287 23,331 Less other interest expensed (2)(3) 24,084 23,030 45,309 48,101 Less interest contributed to unconsolidated joint venture (4) - - 10,676 - Interest capitalized at end of period (5) $115,809 $119,901 $115,809 $119,901
Cash Paid for Interest Net of Capitalized Interest [Table Text Block]	Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Other interest expensed $24,084 $23,030 $45,309 $48,101 Interest paid by our mortgage and finance subsidiaries 851 268 1,410 676 Decrease (increase) in accrued interest (9,948 ) (8,726 ) 1,268 (7,716 ) Cash paid for interest, net of capitalized interest $14,987 $14,572 $47,987 $41,061

Note 6 - Warranty Costs (Tables

Note 6 - Warranty Costs (Tables)	6 Months Ended
	Apr. 30, 2016
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Balance, beginning of period $133,389 $181,833 $135,053 $178,008 Additions – Selling, general and administrative 4,292 4,331 8,915 9,580 Additions – Cost of sales 4,539 5,635 7,921 8,816 Charges incurred during the period (5,514 ) (30,492 ) (15,183 ) (35,097 ) Changes to pre-existing reserves - - - - Balance, end of period $136,706 $161,307 $136,706 $161,307

Note 9 - Mortgage Loans Held 32

Note 9 - Mortgage Loans Held for Sale (Tables)	6 Months Ended
	Apr. 30, 2016
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Loan origination reserves, beginning of period $8,028 $7,981 $8,025 $7,352 Provisions for losses during the period 117 68 158 129 Adjustments to pre-existing provisions for losses from changes in estimates 161 (107 ) 123 461 Loan origination reserves, end of period $8,306 $7,942 $8,306 $7,942

Note 11 - Senior Secured, Sen33

Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Tables)	6 Months Ended
	Apr. 30, 2016
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	(In thousands) April 30, 2016 October 31, 2015 Senior Secured Notes: 7.25% Senior Secured First Lien Notes due October 15, 2020 $577,000 $577,000 9.125% Senior Secured Second Lien Notes due November 15, 2020 220,000 220,000 2.0% Senior Secured Notes due November 1, 2021 (net of discount) 53,143 53,139 5.0% Senior Secured Notes due November 1, 2021 (net of discount) 131,943 131,207 Total Senior Secured Notes $982,086 $981,346 Senior Notes: 6.25% Senior Notes due January 15, 2016 (net of discount) $- $172,744 7.5% Senior Notes due May 15, 2016 86,532 86,532 8.625% Senior Notes due January 15, 2017 121,043 121,043 7.0% Senior Notes due January 15, 2019 150,000 150,000 8.0% Senior Notes due November 1, 2019 250,000 250,000 Total Senior Notes $607,575 $780,319 11.0% Senior Amortizing Notes due December 1, 2017 $10,516 $12,811 Senior Exchangeable Notes due December 1, 2017 $75,677 $73,771

Note 17 - Operating and Repor34

Note 17 - Operating and Reporting Segments (Tables)	6 Months Ended
	Apr. 30, 2016
Operating Segments [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2016 2015 2016 2015 Revenues: Northeast $54,046 $39,274 $126,550 $90,004 Mid-Atlantic 89,987 76,777 183,807 157,962 Midwest 84,631 73,256 176,551 137,695 Southeast 51,298 49,275 90,550 87,169 Southwest 276,735 190,427 481,060 357,614 West 81,095 27,522 136,673 60,715 Total homebuilding 637,792 456,531 1,195,191 891,159 Financial services 17,003 12,457 35,229 23,579 Corporate and unallocated (72 ) (39 ) (92 ) (75 ) Total revenues $654,723 $468,949 $1,230,328 $914,663 (Loss) income before income taxes: Northeast $(6,684 ) $(3,812 ) $(3,950 ) $(6,965 ) Mid-Atlantic 1,072 (178 ) 3,694 4,999 Midwest (23 ) 1,210 (5,582 ) 4,921 Southeast (7,255 ) (1,202 ) (9,089 ) (2,358 ) Southwest 18,491 14,022 34,860 25,347 West (4,318 ) (8,963 ) (10,286 ) (11,336 ) Homebuilding income before income taxes 1,283 1,077 9,647 14,608 Financial services 7,385 4,949 17,396 8,754 Corporate and unallocated (26,272 ) (35,507 ) (57,841 ) (72,523 ) Loss before income taxes $(17,604 ) $(29,481 ) $(30,798 ) $(49,161 )
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(In thousands) April 30, 2016 October 31, 2015 Assets: Northeast $287,781 $321,983 Mid-Atlantic 355,629 342,159 Midwest 169,786 197,899 Southeast 281,694 223,206 Southwest 454,939 465,740 West 298,220 259,943 Total homebuilding 1,848,049 1,810,930 Financial services 160,712 159,981 Corporate and unallocated(1) 509,866 631,387 Total assets $2,518,627 $2,602,298

Note 18 - Investments in Unco35

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)	6 Months Ended
	Apr. 30, 2016
Notes Tables
Equity Method Investments [Table Text Block]	(Dollars in thousands) April 30, 2016 Homebuilding Land Development Total Assets: Cash and cash equivalents $29,757 $1,642 $31,399 Inventories 400,785 11,692 412,477 Other assets 19,536 - 19,536 Total assets $450,078 $13,334 $463,412 Liabilities and equity: Accounts payable and accrued liabilities $39,591 $992 $40,583 Notes payable 116,852 3,319 120,171 Total liabilities 156,443 4,311 160,754 Equity of: Hovnanian Enterprises, Inc. 66,300 3,271 69,571 Others 227,335 5,752 233,087 Total equity 293,635 9,023 302,658 Total liabilities and equity $450,078 $13,334 $463,412 Debt to capitalization ratio 28 % 27 % 28 % (Dollars in thousands) October 31, 2015 Homebuilding Land Development Total Assets: Cash and cash equivalents $27,856 $1,755 $29,611 Inventories 314,814 11,767 326,581 Other assets 11,225 - 11,225 Total assets $353,895 $13,522 $367,417 Liabilities and equity: Accounts payable and accrued liabilities $29,994 $669 $30,663 Notes payable 112,554 3,774 116,328 Total liabilities 142,548 4,443 146,991 Equity of: Hovnanian Enterprises, Inc. 57,336 3,122 60,458 Others 154,011 5,957 159,968 Total equity 211,347 9,079 220,426 Total liabilities and equity $353,895 $13,522 $367,417 Debt to capitalization ratio 35 % 29 % 35 % For the Three Months Ended April 30, 2016 (In thousands) Homebuilding Land Development Total Revenues $25,760 $521 $26,281 Cost of sales and expenses (31,480 ) (96 ) (31,576 ) Joint venture net (loss) income $(5,720 ) $425 $(5,295 ) Our share of net (loss) income $(1,353 ) $213 $(1,140 ) For the Three Months Ended April 30, 2015 (In thousands) Homebuilding Land Development Total Revenues $27,648 $1,483 $29,131 Cost of sales and expenses (29,258 ) (1,722 ) (30,980 ) Joint venture net loss $(1,610 ) $(239 ) $(1,849 ) Our share of net income (loss) $1,465 $(119 ) $1,346 For the Six Months Ended April 30, 2016 (In thousands) Homebuilding Land Development Total Revenues $46,026 $1,617 $47,643 Cost of sales and expenses (55,659 ) (1,319 ) (56,978 ) Joint venture net (loss) income $(9,633 ) $298 $(9,335 ) Our share of net (loss) income $(2,849 ) $149 $(2,700 ) For the Six Months Ended April 30, 2015 (In thousands) Homebuilding Land Development Total Revenues $64,774 $2,615 $67,389 Cost of sales and expenses (59,117 ) (2,807 ) (61,924 ) Joint venture net income (loss) $5,657 $(192 ) $5,465 Our share of net income (loss) $2,932 $(96 ) $2,836

Note 20 - Fair Value of Finan36

Note 20 - Fair Value of Financial Instruments (Tables)	6 Months Ended
	Apr. 30, 2016
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	(In thousands) Fair Value Hierarchy Fair Value at April 30, 2016 Fair Value at October 31, 2015 Mortgage loans held for sale (1) Level 2 $130,017 $129,818 Interest rate lock commitments Level 2 23 (7 ) Forward contracts Level 2 (41 ) 509 Total $129,999 $130,320
Fair Value, Option, Quantitative Disclosures [Table Text Block]	Three Months Ended April 30, 2016 (In thousands) Mortgage Loans Held For Sale Interest Rate Lock Commitments Forward Contracts Changes in fair value included in net loss all reflected in financial services revenues $(1,178 ) $(377 ) $593 Three Months Ended April 30, 2015 (In thousands) Mortgage Loans Held For Sale Interest Rate Lock Commitments Forward Contracts Changes in fair value included in net loss all reflected in financial services revenues $(233 ) $(325 ) $880 Six Months Ended April 30, 2016 (In thousands) Mortgage Loans Held For Sale Interest Rate Lock Commitments Forward Contracts Changes in fair value included in net loss all reflected in financial services revenues $3,829 $30 $(550 ) Six Months Ended April 30, 2015 (In thousands) Mortgage Loans Held For Sale Interest Rate Lock Commitments Forward Contracts Changes in fair value included in net loss all reflected in financial services revenues $(173 ) $(59 ) $498
Fair Value Measurements, Nonrecurring [Table Text Block]	Three Months Ended April 30, 2016 (In thousands) Fair Value Hierarchy Pre-Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $15,710 $(4,730 ) $10,980 Land and land options held for future development or sale Level 3 $1,012 $(646 ) $366 Three Months Ended April 30, 2015 (In thousands) Fair Value Hierarchy Pre-Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $11,055 $(3,543 ) $7,512 Land and land options held for future development or sale Level 3 $- $- $- Six Months Ended April 30, 2016 (In thousands) Fair Value Hierarchy Pre-Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $44,238 $(14,399 ) $29,839 Land and land options held for future development or sale Level 3 $1,169 $(694 ) $475 Six Months Ended April 30, 2015 (In thousands) Fair Value Hierarchy Pre-Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $16,756 $(4,466 ) $12,290 Land and land options held for future development or sale Level 3 $- $- $-

Note 21 - Financial Informati37

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Tables)	6 Months Ended
	Apr. 30, 2016
Notes Tables
Condensed Balance Sheet [Table Text Block]	Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated ASSETS: Homebuilding $- $102,903 $1,474,850 $486,093 $- $2,063,846 Financial services 14,937 145,775 160,712 Income taxes receivable 140,353 (73,884 ) 227,575 25 294,069 Intercompany receivable 1,522,624 28,208 (1,550,832 ) - Investments in and amounts due from consolidated subsidiaries 414,580 (414,580 ) - Total assets $140,353 $1,551,643 $2,131,942 $660,101 $(1,965,412 ) $2,518,627 LIABILITIES AND EQUITY: Homebuilding $2,823 $73 $640,813 $125,561 $- $769,270 Financial services 14,580 122,126 136,706 Notes payable 1,760,690 4,030 253 1,764,973 Intercompany payable 174,877 1,375,955 (1,550,832 ) - Amounts due to consolidated subsidiaries 114,975 26,059 (141,034 ) - Stockholders’ (deficit) equity (152,322 ) (235,179 ) 96,564 412,161 (273,546 ) (152,322 ) Total liabilities and equity $140,353 $1,551,643 $2,131,942 $660,101 $(1,965,412 ) $2,518,627 Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated ASSETS: Homebuilding $- $230,358 $1,553,811 $367,869 $- $2,152,038 Financial services 15,680 144,301 159,981 Income taxes receivable 128,176 (89,212 ) 251,293 22 290,279 Intercompany receivable 1,575,712 58,280 (1,633,992 ) - Investments in and amounts due from consolidated subsidiaries 1,013 383,032 (384,045 ) - Total assets $128,176 $1,717,871 $2,203,816 $570,472 $(2,018,037 ) $2,602,298 LIABILITIES AND EQUITY: Homebuilding $3,076 $87 $588,854 $65,947 $- $657,964 Financial services 15,677 121,106 136,783 Notes payable 1,933,119 2,132 384 1,935,635 Intercompany payable 180,681 1,453,311 (1,633,992 ) - Amounts due to consolidated subsidiaries 72,503 (72,503 ) - Stockholders’ (deficit) equity (128,084 ) (215,335 ) 143,842 383,035 (311,542 ) (128,084 ) Total liabilities and equity $128,176 $1,717,871 $2,203,816 $570,472 $(2,018,037 ) $2,602,298
Condensed Income Statement [Table Text Block]	Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $523,418 $114,302 $- $637,720 Financial services 2,676 14,327 17,003 Intercompany charges 26,567 (26,567 ) - Total revenues - 26,567 526,094 128,629 (26,567 ) 654,723 Expenses: Homebuilding (343 ) 33,396 525,553 102,757 661,363 Financial services 1,823 7,795 9,618 Intercompany charges 25,838 729 (26,567 ) - Total expenses (343 ) 33,396 553,214 111,281 (26,567 ) 670,981 (Loss) income from unconsolidated joint ventures 7 (1,353 ) (1,346 ) (Loss) income before income taxes 343 (6,829 ) (27,113 ) 15,995 - (17,604 ) State and federal income tax (benefit) provision (4,885 ) (8,410 ) 4,152 (9,143 ) Equity in (loss) income of consolidated subsidiaries (13,689 ) (13,562 ) 15,995 11,256 - Net (loss) income $(8,461 ) $(11,981 ) $(15,270 ) $15,995 $11,256 $(8,461 ) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $390,898 $65,594 $- $456,492 Financial services 1,935 10,522 12,457 Intercompany charges 31,873 66 (31,939 ) - Total revenues - 31,873 392,833 76,182 (31,939 ) 468,949 Expenses: Homebuilding 3,082 38,387 392,535 58,384 492,388 Financial services 20 1,556 5,932 7,508 Intercompany charges 31,939 (31,939 ) - Total expenses 3,102 38,387 426,030 64,316 (31,939 ) 499,896 Income from unconsolidated joint ventures 1,466 1,466 (Loss) income before income taxes (3,102 ) (6,514 ) (33,197 ) 13,332 - (29,481 ) State and federal income tax benefit (5,906 ) (4,016 ) (9,922 ) Equity in (loss) income of consolidated subsidiaries (22,363 ) (13,558 ) 13,332 22,589 - Net (loss) income $(19,559 ) $(20,072 ) $(15,849 ) $13,332 $22,589 $(19,559 ) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $998,328 $196,771 $- $1,195,099 Financial services 4,921 30,308 35,229 Intercompany charges 61,107 (61,107 ) - Total revenues - 61,107 1,003,249 227,079 (61,107 ) 1,230,328 Expenses: Homebuilding 1,597 69,207 992,173 177,490 1,240,467 Financial services 3,447 14,386 17,833 Intercompany charges 60,301 806 (61,107 ) - Total expenses 1,597 69,207 1,055,921 192,682 (61,107 ) 1,258,300 (Loss) income from unconsolidated joint ventures 23 (2,849 ) (2,826 ) (Loss) income before income taxes (1,597 ) (8,100 ) (52,649 ) 31,548 - (30,798 ) State and federal income tax (benefit) provision (19,435 ) (15,328 ) 28,599 (6,164 ) Equity in (loss) income of consolidated subsidiaries (42,472 ) (27,072 ) 31,548 37,996 - Net (loss) income $(24,634 ) $(19,844 ) $(49,700 ) $31,548 $37,996 $(24,634 ) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $756,087 $134,997 $- $891,084 Financial services 3,768 19,811 23,579 Intercompany charges 60,385 (60,385 ) - Total revenues - 60,385 759,855 154,808 (60,385 ) 914,663 Expenses: Homebuilding 6,793 76,215 750,044 118,865 951,917 Financial services 88 3,129 11,608 14,825 Intercompany charges 60,321 64 (60,385 ) - Total expenses 6,881 76,215 813,494 130,537 (60,385 ) 966,742 Income (loss) from unconsolidated joint ventures (14 ) 2,932 2,918 (Loss) income before income taxes (6,881 ) (15,830 ) (53,653 ) 27,203 - (49,161 ) State and federal income tax (benefit) provision (18,192 ) 2,966 (15,226 ) Equity in (loss) income of consolidated subsidiaries (45,246 ) (26,364 ) 27,203 44,407 - Net (loss) income $(33,935 ) $(42,194 ) $(29,416 ) $27,203 $44,407 $(33,935 )
Condensed Cash Flow Statement [Table Text Block]	Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net (loss) income $(24,634 ) $(19,844 ) $(49,700 ) $31,548 $37,996 $(24,634 ) Adjustments to reconcile net (loss) income to net cash used in operating activities (12,034 ) 22,078 120,711 (99,312 ) (37,996 ) (6,553 ) Net cash (used in) provided by operating activities (36,668 ) 2,234 71,011 (67,764 ) - (31,187 ) Cash flows from investing activities: Proceeds from sale of property and assets 94 21 115 Purchase of property, equipment & other fixed assets and acquisitions (1,620 ) (31 ) (1,651 ) Increase in restricted cash related to mortgage company (204 ) (204 ) Decrease in restricted cash related to letters of credit 325 325 Investments in and advances to unconsolidated joint ventures (130 ) (990 ) (15,623 ) (16,743 ) Distributions of capital from unconsolidated joint ventures (186 ) 1,087 4,164 5,065 Intercompany investing activities 80,160 (80,160 ) - Net cash (used in) provided by investing activities - 80,169 (1,429 ) (11,673 ) (80,160 ) (13,093 ) Cash flows from financing activities: Net payments related to mortgages and notes (13,649 ) (5,490 ) (19,139 ) Net proceeds from model sale leaseback financing programs 3,179 (1,960 ) 1,219 Net proceeds from land bank financing programs 90,425 24,048 114,473 Payments related to senior notes and senior amortizing notes (175,040 ) (175,040 ) Borrowings from revolving credit facility 3,000 3,000 Net proceeds related to mortgage warehouse lines of credit 257 257 Deferred financing costs from land bank financing programs and note issuances (3,380 ) (1,201 ) (4,581 ) Intercompany financing activities 36,668 (146,900 ) 30,072 80,160 - Net cash (used in) provided by financing activities 36,668 (172,040 ) (70,325 ) 45,726 80,160 (79,811 ) Net decrease in cash - (89,637 ) (743 ) (33,711 ) - (124,091 ) Cash and cash equivalents balance, beginning of period 199,318 (4,800 ) 59,227 253,745 Cash and cash equivalents balance, end of period $- $109,681 $(5,543 ) $25,516 $- $129,654 Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net (loss) income $(33,935 ) $(42,194 ) $(29,416 ) $27,203 $44,407 $(33,935 ) Adjustments to reconcile net (loss) income to net cash used in operating activities (7,989 ) 18,740 (101,623 ) (86,915 ) (44,407 ) (222,194 ) Net cash used in operating activities (41,924 ) (23,454 ) (131,039 ) (59,712 ) - (256,129 ) Cash flows from investing activities: Proceeds from sale of property and assets 952 31 983 Purchase of property, equipment & other fixed assets and acquisitions (1,172 ) (1,172 ) Decrease in restricted cash related to mortgage company 1,645 1,645 Investments in and advances to unconsolidated joint ventures 81 146 (15,766 ) (15,539 ) Distributions of capital from unconsolidated joint ventures (33 ) 339 7,039 7,345 Intercompany investing activities (165,853 ) 165,853 - Net cash (used in) provided by investing activities - (165,805 ) 265 (7,051 ) 165,853 (6,738 ) Cash flows from financing activities: Net proceeds from mortgages and notes 6,336 8,375 14,711 Net proceeds from model sale leaseback financing programs 11,746 1,595 13,341 Net payments related to land bank financing programs (9,124 ) (3,879 ) (13,003 ) Proceeds from senior notes 250,000 250,000 Net proceeds related to mortgage warehouse lines of credit 6,047 6,047 Deferred financing costs from land bank financing programs and note issuances (4,627 ) (1,016 ) (850 ) (6,493 ) Principal payments and debt repurchases (2,062 ) (2,062 ) Intercompany financing activities 41,924 124,498 (569 ) (165,853 ) - Net cash provided by (used in) financing activities 41,924 243,311 132,440 10,719 (165,853 ) 262,541 Net (decrease) increase in cash and cash equivalents - 54,052 1,666 (56,044 ) - (326 ) Cash and cash equivalents balance, beginning of period 159,508 (4,726 ) 107,116 261,898 Cash and cash equivalents balance, end of period $- $213,560 $(3,060 ) $51,072 $- $261,572

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual)	6 Months Ended
	Apr. 30, 2016
Homebuilding [Member]
Number of Reportable Segments	6

Note 2 - Stock Compensation (De

Note 2 - Stock Compensation (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Performance Shares [Member]
Share-based Compensation, Reverse of Previously Recognized Expense	$ (2.1)		$ (2.1)
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	0.1	$ 0.5	0.2	$ 1.4
Share-based Compensation Income	0.7
Allocated Share-based Compensation Expense		3.2	0.8	6.7
Allocated Share-based Compensation Expense, Net of Tax	$ 0.7	$ 2.1	$ 0.7	$ 4.6

Note 3 - Interest Costs Incurre

Note 3 - Interest Costs Incurred, Expensed and Capitalized (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Interest capitalized at beginning of period		$ 117,113	$ 114,241	$ 123,898	$ 109,158
Plus interest incurred (1)	[1]	44,224	40,703	86,183	82,175
Less cost of sales interest expensed		21,444	12,013	38,287	23,331
Other interest expensed	[2],[3]	$ 24,084	$ 23,030	45,309	$ 48,101
Less interest contributed to unconsolidated joint venture (4)	[4]			10,676
Interest capitalized at end of period (5)	[5]	$ 115,809	$ 119,901	$ 115,809	$ 119,901
[1]	Data does not include interest incurred by our mortgage and finance subsidiaries.
[2]	Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:
[3]	Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore is expensed.
[4]	Represents capitalized interest which was included as part of the assets contributed to the joint venture the Company entered into in November 2015, as discussed in Note 18. There was no impact to the Condensed Consolidated Statement of Operations as a result of this transaction.
[5]	Capitalized interest amounts are shown gross before allocating any portion of impairments, if any, to capitalized interest.

Note 3 - Cash Paid for Interest

Note 3 - Cash Paid for Interest, Net of Capitalized Interest (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Other interest expensed	[1],[2]	$ 24,084	$ 23,030	$ 45,309	$ 48,101
Interest paid by our mortgage and finance subsidiaries		851	268	1,410	676
Decrease (increase) in accrued interest		(9,948)	(8,726)	1,268	(7,716)
Cash paid for interest, net of capitalized interest		$ 14,987	$ 14,572	$ 47,987	$ 41,061
[1]	Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:
[2]	Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore is expensed.

Note 4 - Reduction of Invento42

Note 4 - Reduction of Inventory to Fair Value (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Oct. 31, 2015USD ($)
Homebuilding [Member] | Real Estate Inventory [Member] | Minimum [Member]
Fair Value Inputs, Discount Rate			16.80%	17.50%
Homebuilding [Member] | Real Estate Inventory [Member] | Maximum [Member]
Fair Value Inputs, Discount Rate			18.50%	19.80%
Homebuilding [Member] | Model Sale Leaseback Financing Arrangements [Member]
Inventory Real Estate, Other Options	$ 98,200		$ 98,200		$ 95,900
Liabilities from Inventory Real Estate Not Owned	89,100		89,100		87,900
Homebuilding [Member] | Land Banking Arrangement [Member]
Inventory Real Estate, Other Options	214,600		214,600		25,100
Liabilities from Inventory Real Estate Not Owned	131,200		131,200		16,800
Homebuilding [Member]
Liabilities from Inventory Real Estate Not Owned	$ 220,348		$ 220,348		$ 105,856	[1]
Number of Communities Evaluated for Impairment	478	508	478	508
Number of Communities Performed Detailed Impairment Calculations	20	15	20	15
Carrying Value of Communities Tested for Impairment	$ 89,000	$ 77,400	$ 89,000	$ 77,400
Number of Communities Tested for Impairment for Which Undiscounted Future Cash Flow Only Exceeded Carrying Amount By Less Than 20 Percent	9	7	9	7
Carrying Value of Communities Tested for Impairment for Which Undiscounted Future Cash Flow Only Exceeded Carrying Amount by Less than 20 Percent	$ 43,500	$ 33,000	$ 43,500	$ 33,000
Percentage Undiscounted Cash Flow Exceeds Carrying Amount			20.00%
Impairment of Real Estate	$ 5,400	$ 3,500	$ 15,100	$ 4,400
Number of Communities Impaired	4	4	10	5
PreImpairment Value	$ 16,700	$ 11,000	$ 45,400	$ 16,700
Land Option Write Offs	$ 4,300	$ 800	$ 6,300	$ 2,100
Number of Walk Away Lots	2,263	455	3,519	2,155
Number of Communities Mothballed	29		29		31
Inventory Real Estate Mothballed Communities	$ 75,700		$ 75,700		$ 103,000
Inventory Real Estate Mothballed Communities Accumulated Impairment Charges	$ 296,800		$ 296,800		334,500
Inventory Real Estate Specific Performance Options					1,200
Liabilities from Inventory Real Estate Specific Performance Options					$ 1,200
[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 5 - Variable Interest En43

Note 5 - Variable Interest Entities (Details Textual) $ in Millions	Apr. 30, 2016USD ($)
Deposits Associated with Land and Lot Options of Unconsolidated Variable Interest Entities	$ 67.4
Purchase Price Associated with Land and Lot Options of Unconsolidated Variable Interest Entities	$ 1,300

Note 6 - Warranty Costs (Detail

Note 6 - Warranty Costs (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Oct. 31, 2015
General Liability Insurance Deductible	$ 20,000		$ 20,000		$ 20,000
Bodily Injury Insurance Deductible	250		250		250
Bodily Injury Insurance Limit	5,000		5,000		5,000
Cash Received from Subcontractors for Owner Controlled Insurance Program			2,000	$ 1,300
Aggregate Retention for Construction Defects Warranty and Bodily Injury Claims	21,000		21,000		$ 21,000
Payments by Insurance Companies for Claims	$ 500	$ 18,100	$ 3,700	$ 18,300

Note 6 - Warranty and General L

Note 6 - Warranty and General Liability Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Selling, General and Administrative Expenses [Member]
Additions	$ 4,292	$ 4,331	$ 8,915	$ 9,580
Cost of Sales [Member]
Additions	4,539	5,635	7,921	8,816
Balance, beginning of period	133,389	181,833	135,053	178,008
Charges incurred during the period	(5,514)	(30,492)	(15,183)	(35,097)
Balance, end of period	$ 136,706	$ 161,307	$ 136,706	$ 161,307

Note 8 - Restricted Cash and 46

Note 8 - Restricted Cash and Deposits (Details Textual) - USD ($) $ in Thousands	Apr. 30, 2016	Oct. 31, 2015
Mortgage Warehouse Lines of Credit [Member]
Restricted Cash and Cash Equivalents	$ 2,000	$ 2,000
Customer Deposits [Member] | Homebuilding [Member]
Restricted Cash and Cash Equivalents	4,000	4,700
Customer Deposits [Member] | Financial Services [Member]
Restricted Cash and Cash Equivalents	17,100	17,200
Homebuilding [Member]
Restricted Cash and Cash Equivalents	6,259	7,299	[1]
Financial Services [Member]
Restricted Cash and Cash Equivalents	19,134	19,223	[1]
Restricted Cash and Cash Equivalents	25,400	26,500
Cash Equivalents, at Carrying Value	$ 8,600	$ 15,800
[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 9 - Mortgage Loans Held 47

Note 9 - Mortgage Loans Held for Sale (Details Textual) $ in Millions	Apr. 30, 2016USD ($)	Oct. 31, 2015USD ($)	Apr. 30, 2015
Loans Pledged as Collateral	$ 116.8	$ 114
Number of Loans Reserved For	132		131

Note 9 - Loan Origination Reser

Note 9 - Loan Origination Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Loan origination reserves, beginning of period	$ 8,028	$ 7,981	$ 8,025	$ 7,352
Provisions for losses during the period	117	68	158	129
Adjustments to pre-existing provisions for losses from changes in estimates	161	(107)	123	461
Loan origination reserves, end of period	$ 8,306	$ 7,942	$ 8,306	$ 7,942

Note 10 - Mortgage and Notes 49

Note 10 - Mortgage and Notes Payable (Details Textual) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jun. 30, 2013	Apr. 30, 2016	Oct. 31, 2015		Nov. 05, 2014
Nonrecourse Mortgages [Member] | Mortgages [Member] | Corporate, Non-Segment [Member]
Debt, Weighted Average Interest Rate		8.80%	8.80%
Secured Debt		$ 14,900	$ 15,500
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months		600
Long-term Debt, Maturities, Repayments of Principal in Year Two		1,300
Long-term Debt, Maturities, Repayments of Principal in Year Three		1,400
Long-term Debt, Maturities, Repayments of Principal in Year Four		1,500
Long-term Debt, Maturities, Repayments of Principal in Year Five		1,700
Long-term Debt, Maturities, Repayments of Principal after Year Five		$ 8,400
Nonrecourse Mortgages [Member] | Mortgages [Member] | Homebuilding [Member]
Debt, Weighted Average Interest Rate		4.60%	5.10%
Secured Debt		$ 125,100	$ 143,900
Debt Instrument, Collateral Amount		$ 330,900	388,100
8.0% Senior Notes Due 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage		8.00%			8.00%
The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] | Senior Secured Notes [Member] | Letter of Credit [Member] | Restricted Cash [Member]
Cash Collateral for Borrowed Securities		$ 2,300	2,600
The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] | Senior Secured Notes [Member]
Debt Instrument, Collateral Amount		685,100
Cash Collateral for Borrowed Securities		$ 106,400
Credit Suisse Master Repurchase Agreement [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.25%
Credit Suisse Master Repurchase Agreement [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
Credit Suisse Master Repurchase Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000
Warehouse Agreement Borrowings		$ 27,600	30,100
Debt Instrument Variable Rate Basis Effective Rate		0.85%
Comerica Master Repurchase Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
Debt Instrument Variable Rate Basis Floor Rate		0.25%
Comerica Master Repurchase Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 35,000
Warehouse Agreement Borrowings		$ 25,500	18,600
Citi Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument, Term	5 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 75,000
Debt Instrument Basis Spread on Variable Rate Number of Business Days Prior to First Day of Interest Period Spread Determined		2 days
Long-term Line of Credit		$ 50,000	47,000
Letters of Credit Outstanding, Amount		$ 22,400	25,900
JP Morgan Chase Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
JP Morgan Chase Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.63%
JP Morgan Chase Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument Variable Rate Basis Adjusted London Interbank Offered Rate LIBOR		0.44%
JP Morgan Chase Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000
Warehouse Agreement Borrowings		$ 31,900	30,500
Customers Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
Customers Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		5.25%
Customers Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 25,000
Warehouse Agreement Borrowings		24,100	29,700
Letter of Credit [Member]
Letters of Credit Outstanding, Amount		2,200	2,600
Long-term Line of Credit		$ 50,000	$ 47,000	[1]
[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 11 - Senior Secured, Sen50

Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details Textual) $ in Thousands	May. 15, 2016USD ($)	Jan. 15, 2016USD ($)	Nov. 05, 2014USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Oct. 31, 2015USD ($)
The 6.25% 2016 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Debt Instrument, Maturity Date				Jan. 15, 2016	Jan. 15, 2016		Jan. 15, 2016
Debt Instrument, Interest Rate, Stated Percentage		6.25%		6.25%	6.25%		6.25%
Repayments of Senior Debt		$ 172,700
The 7.5% 2016 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Repayments of Senior Debt	$ 86,500
The 7.5% 2016 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Debt Instrument, Maturity Date				May 15, 2016	May 15, 2016		May 15, 2016
Debt Instrument, Interest Rate, Stated Percentage				7.50%	7.50%		7.50%
The 8.625% 2017 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Debt Instrument, Maturity Date				Jan. 15, 2017	Jan. 15, 2017		Jan. 15, 2017
Debt Instrument, Interest Rate, Stated Percentage				8.625%	8.625%		8.625%
Long-term Debt, Gross				$ 121,000	$ 121,000
The 5.0% 2021 Notes [Member] | Senior Secured Notes [Member]
Debt Instrument, Maturity Date					Nov. 1, 2021		Nov. 1, 2021
Debt Instrument, Interest Rate, Stated Percentage				5.00%	5.00%		5.00%
The 2.0% 2021 Notes [Member] | Senior Secured Notes [Member]
Debt Instrument, Maturity Date					Nov. 1, 2021		Nov. 1, 2020
Debt Instrument, Interest Rate, Stated Percentage				2.00%	2.00%		2.00%
The 7.25% 2020 Notes [Member] | Senior Secured Notes [Member]
Debt Instrument, Maturity Date					Oct. 15, 2020		Oct. 15, 2020
Debt Instrument, Interest Rate, Stated Percentage				7.25%	7.25%		7.25%
The 9.125% 2020 Notes [Member] | Senior Secured Notes [Member]
Debt Instrument, Maturity Date					Nov. 15, 2020		Nov. 15, 2020
Debt Instrument, Interest Rate, Stated Percentage				9.125%	9.125%		9.125%
The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] | Senior Secured Notes [Member] | Restricted Cash [Member] | Letter of Credit [Member]
Cash Collateral for Borrowed Securities				$ 2,300	$ 2,300		$ 2,600
The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] | Senior Secured Notes [Member]
Debt Instrument, Collateral Amount				685,100	685,100
Cash Collateral for Borrowed Securities				106,400	106,400
The 2.0% 2021 Notes Member and 5.0% 2021 Notes [Member] | Senior Secured Notes [Member] | Cash and Cash Equivalents Collateral [Member]
Debt Instrument, Collateral Amount				16,500	16,500
The 2.0% 2021 Notes Member and 5.0% 2021 Notes [Member] | Senior Secured Notes [Member] | Secured Group [Member]
Debt Instrument, Collateral Amount				153,900	153,900
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures				$ 66,300	$ 66,300
8.0% Senior Notes Due 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage			8.00%	8.00%	8.00%
Debt Instrument, Face Amount			$ 250,000
Proceeds from Issuance of Long-term Debt			$ 245,700
Debt Instrument, Redemption Price, Percentage			100.00%
Series A Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage				7.625%
Debt Covenant Fixed Charge Coverage Ratio Minimum				2	2
Debt Instrument, Redemption Price, Percentage			100.00%
Repayments of Senior Debt					$ 175,040	$ 2,062

Note 11 - Senior Secured, Sen51

Note 11 - Senior Secured, Senior and Senior Subordinated Notes (Details) - USD ($)	Apr. 30, 2016	Oct. 31, 2015
The 7.25% 2020 Notes [Member] | Senior Secured Notes [Member]
Senior Notes	$ 577,000,000	$ 577,000,000
The 9.125% 2020 Notes [Member] | Senior Secured Notes [Member]
Senior Notes	220,000,000	220,000,000
The 2.0% 2021 Notes [Member] | Senior Secured Notes [Member]
Senior Notes	53,143,000	53,139,000
The 5.0% 2021 Notes [Member] | Senior Secured Notes [Member]
Senior Notes	131,943,000	131,207,000
The 6.25% 2016 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior Notes		172,744,000
The 7.5% 2016 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior Notes	86,532	86,532
The 8.625% 2017 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior Notes	121,043	121,043
The 7.0% 2019 Notes Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior Notes	150,000	150,000
The 8.0% Senior Notes Due 2019 [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior Notes	250,000,000	250,000,000
The 11.0% 2017 Amortizing Note [Member] | Senior Amortizing Notes [Member]
Senior Notes	10,516,000	12,811,000
Senior Exchangeable Notes Due 2017 [Member] | Senior Amortizing Notes [Member]
Senior Notes	75,677,000	73,771,000
Senior Secured Notes [Member]
Senior Notes	982,086,000	981,346,000
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior Notes	$ 607,575,000	$ 780,319,000

Note 11 - Senior Secured, Sen52

Note 11 - Senior Secured, Senior and Senior Subordinated Notes (Details) (Parentheticals)	3 Months Ended	6 Months Ended	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2016	Oct. 31, 2015	Jan. 15, 2016	Oct. 02, 2012
Senior Secured Notes [Member] | The 7.25% 2020 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.25%	7.25%	7.25%
Debt Instrument, Maturity Date		Oct. 15, 2020	Oct. 15, 2020
Senior Secured Notes [Member] | The 9.125% 2020 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	9.125%	9.125%	9.125%
Debt Instrument, Maturity Date		Nov. 15, 2020	Nov. 15, 2020
Senior Secured Notes [Member] | The 2.0% 2021 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	2.00%	2.00%	2.00%
Debt Instrument, Maturity Date		Nov. 1, 2021	Nov. 1, 2020
Senior Secured Notes [Member] | The 5.0% 2021 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%	5.00%	5.00%
Debt Instrument, Maturity Date		Nov. 1, 2021	Nov. 1, 2021
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] | The 6.25% 2016 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	6.25%	6.25%	6.25%	6.25%
Debt Instrument, Maturity Date	Jan. 15, 2016	Jan. 15, 2016	Jan. 15, 2016
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] | The 7.5% 2016 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.50%	7.50%	7.50%
Debt Instrument, Maturity Date	May 15, 2016	May 15, 2016	May 15, 2016
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] | The 8.625% 2017 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.625%	8.625%	8.625%
Debt Instrument, Maturity Date	Jan. 15, 2017	Jan. 15, 2017	Jan. 15, 2017
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] | The 7.0% 2019 Notes Member]
Debt Instrument, Interest Rate, Stated Percentage	7.00%	7.00%	7.00%
Debt Instrument, Maturity Date		Jan. 15, 2019	Jan. 15, 2019
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] | The 8.0% Senior Notes Due 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.00%	8.00%	8.00%
Debt Instrument, Maturity Date		Nov. 1, 2019	Nov. 1, 2019
Senior Amortizing Notes [Member] | The 11.0% 2017 Amortizing Note [Member]
Debt Instrument, Interest Rate, Stated Percentage	11.00%	11.00%	11.00%		11.00%
Senior Amortizing Notes [Member] | Senior Exchangeable Notes Due 2017 [Member]
Debt Instrument, Maturity Date		Dec. 1, 2017	Dec. 1, 2017
Senior Amortizing Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	11.00%	11.00%

Note 12 - Senior Exchangeable53

Note 12 - Senior Exchangeable Notes (Details Textual)	Jun. 01, 2013USD ($)	Apr. 30, 2016USD ($)shares	Oct. 31, 2015	Oct. 02, 2012USD ($)$ / sharesshares
The 6.00% Exchangeable Note Units [Member] | Exchangeable Note Units [Member]
Debt Instrument, Face Amount | $				$ 100,000,000
Debt Instrument, Interest Rate, Stated Percentage				6.00%
Note Units Number				100,000
Note Units Stated Amount | $				$ 1,000
Note Units Initial Principal Amount Exchangeable Note				$ 768.51
Note Units Principal Amount at Maturity				1,000
Note Units Initial Principal Amount Senior Amortizing Note				$ 231.49
Debt Instrument, Interest Rate, Effective Percentage				5.17%
Shares Issued Upon Conversion of Convertible Debt | shares				185.5288
Share Price for Exchangeable Note Conversion				$ 5.39
Senior Exchangeable Notes Exchanged for Class A Common Stock | shares		18,305
Debt Conversion, Converted Instrument, Shares Issued | shares		3,400,000
The 11.0% 2017 Amortizing Note [Member] | Senior Amortizing Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		11.00%	11.00%	11.00%
Senior Amortizing Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		11.00%
Debt Instrument, Periodic Payment, Interest | $	$ 39.83	$ 30

Note 13 - Per Share Calculati54

Note 13 - Per Share Calculation (Details Textual) - shares	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Non Vested Stock and Outstanding Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	300,000
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	15,200,000	15,200,000	15,200,000	15,200,000
Out of the Money Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,400,000	3,300,000	6,400,000	3,300,000
Exchangeable Note Unit Rate Stated Percentage	6.00%		6.00%

Note 14 - Preferred Stock (Deta

Note 14 - Preferred Stock (Details Textual) - USD ($)	Jul. 12, 2005	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Oct. 31, 2015	[1]
Preferred Class A [Member]
Payments of Dividends		$ 0	$ 0	$ 0	$ 0
Preferred Stock, Shares Issued	5,600
Preferred Stock, Dividend Rate, Percentage	7.625%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Depositary Shares, Number of Shares of Preferred Stock in Each Depositary Share	0.001
Preferred Stock, Shares Issued		5,600		5,600		5,600
[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 15 - Common Stock (Details

Note 15 - Common Stock (Details Textual) $ in Millions	3 Months Ended	6 Months Ended
	Apr. 30, 2016USD ($)shares	Apr. 30, 2016USD ($)shares	Dec. 05, 2008	Aug. 15, 2008	Aug. 04, 2008	Jul. 03, 2001shares
Common Class A [Member]
Stock Repurchased During Period, Shares	0	0
Common Stock Voting Rights Votes per Share Number		1
Shareholder Ownership Percentage				4.90%
Number of Rights				1
Shareholder Percent of Stock Acquired				4.90%
Shareholders Pre Existing Ownership Percentage			5.00%
Shareholders Current Ownership Percentage			5.00%
Shareholders Ownership Percentage on Transfers			5.00%
Shareholders Ownership Percentage Threshold			5.00%
Stock Repurchase Program, Number of Shares Authorized to be Repurchased						4,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $	$ 0.5	$ 0.5
Common Class B [Member]
Common Stock Voting Rights Votes per Share Number		10
Minimum [Member]
Shareholder Ownership Percentage					5.00%
Common Stock Dividends Percent of Increase from Class A to Class B	110.00%	110.00%
Shareholder Ownership Percentage of Increase					50.00%

Note 16 - Income Taxes (Details

Note 16 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Income Tax Expense (Benefit)	$ (9,143)	$ (9,922)	$ (6,164)	$ (15,226)
Deferred Tax Assets, Valuation Allowance	$ 635,400		$ 635,400

Note 17 - Operating and Repor58

Note 17 - Operating and Reporting Segments (Details Textual) $ in Thousands	6 Months Ended
	Apr. 30, 2016USD ($)	Oct. 31, 2015USD ($)
Homebuilding [Member]
Number of Reportable Segments	6
Corporate and Other [Member]
Deferred Tax Assets, Net of Valuation Allowance	$ 294,100	$ 290,300
Deferred Tax Assets, Net of Valuation Allowance	$ 294,069	$ 290,279	[1]
[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 17 - Financial Information

Note 17 - Financial Information Relating to Segment Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Homebuilding [Member] | Northeast [Member]
Total revenues	$ 54,046	$ 39,274	$ 126,550	$ 90,004
(Loss) income before income taxes	6,684	3,812	3,950	6,965
Homebuilding [Member] | Mid-Atlantic [Member]
Total revenues	89,987	76,777	183,807	157,962
(Loss) income before income taxes	1,072	(178)	3,694	4,999
Homebuilding [Member] | Midwest [Member]
Total revenues	84,631	73,256	176,551	137,695
(Loss) income before income taxes	(23)	1,210	(5,582)	4,921
Homebuilding [Member] | Southeast [Member]
Total revenues	51,298	49,275	90,550	87,169
(Loss) income before income taxes	(7,255)	(1,202)	(9,089)	(2,358)
Homebuilding [Member] | Southwest [Member]
Total revenues	276,735	190,427	481,060	357,614
(Loss) income before income taxes	18,491	14,022	34,860	25,347
Homebuilding [Member] | West [Member]
Total revenues	81,095	27,522	136,673	60,715
(Loss) income before income taxes	(4,318)	(8,963)	(10,286)	(11,336)
Homebuilding [Member]
Total revenues	637,792	456,531	1,195,191	891,159
(Loss) income before income taxes	1,283	1,077	9,647	14,608
Financial Services [Member]
Total revenues	17,003	12,457	35,229	23,579
(Loss) income before income taxes	7,385	4,949	17,396	8,754
Corporate and Other [Member]
Total revenues	(72)	(39)	(92)	(75)
(Loss) income before income taxes	(26,272)	(35,507)	(57,841)	(72,523)
Total revenues	654,723	468,949	1,230,328	914,663
(Loss) income before income taxes	$ (17,604)	$ (29,481)	$ (30,798)	$ (49,161)

Note 17 - Financial Informati60

Note 17 - Financial Information Relating to Segment Financial Position (Details) - USD ($) $ in Thousands		Apr. 30, 2016	Oct. 31, 2015
Homebuilding [Member] | Northeast [Member]
Assets		$ 287,781	$ 321,983
Homebuilding [Member] | Mid-Atlantic [Member]
Assets		355,629	342,159
Homebuilding [Member] | Midwest [Member]
Assets		169,786	197,899
Homebuilding [Member] | Southeast [Member]
Assets		281,694	223,206
Homebuilding [Member] | Southwest [Member]
Assets		454,939	465,740
Homebuilding [Member] | West [Member]
Assets		298,220	259,943
Homebuilding [Member] | Excluding Corporate and Unallocated [Member]
Assets		1,848,049	1,810,930
Homebuilding [Member]
Assets		2,063,846	2,152,038	[1]
Financial Services [Member]
Assets		160,712	159,981	[1]
Corporate and Other [Member]
Assets	[2]	509,866	631,387
Assets		$ 2,518,627	$ 2,602,298	[1]
[1]	Derived from the audited balance sheet as of October 31, 2015.
[2]	Includes $294.1 million and $290.3 million of income taxes receivable, including deferred tax assets, as of April 30, 2016 and October 31, 2015, respectively.

Note 18 - Investments in Unco61

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Oct. 31, 2015
Land Development Venture [Member]
Proceeds from Sale of Land and Contribution of Land to Joint Venture	$ 25,700
Homebuilding [Member] | Corporate Joint Venture [Member]
Joint Venture Average Debt to Capitalization Ratio		28.00%		28.00%		35.00%
Homebuilding [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		$ 70,061		$ 70,061		$ 61,209
Management Fees Revenue		1,100	$ 1,200	1,900	$ 2,400
Corporate Joint Venture [Member]
Advances to Affiliate		$ 500		$ 500		$ 800
Joint Venture Financing Percent of Assets		50.00%		50.00%
Joint Venture Average Debt to Capitalization Ratio		28.00%		28.00%

Note 18 - Unconsolidated Homebu

Note 18 - Unconsolidated Homebuilding and Land Development Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Oct. 31, 2015
Corporate Joint Venture [Member] | Homebuilding [Member] | Homebuilding Venture [Member]
Cash and cash equivalents	$ 29,757		$ 29,757		$ 27,856
Inventories	400,785		400,785		314,814
Other assets	19,536		19,536		11,225
Total assets	450,078		450,078		353,895
Accounts payable and accrued liabilities	39,591		39,591		29,994
Notes payable	116,852		116,852		112,554
Total liabilities	156,443		156,443		142,548
Hovnanian Enterprises, Inc.	66,300		66,300		57,336
Others	227,335		227,335		154,011
Total equity	293,635		293,635		211,347
Total liabilities and equity	$ 450,078		$ 450,078		$ 353,895
Debt to capitalization ratio	28.00%		28.00%		35.00%
Revenues	$ 25,760	$ 27,648	$ 46,026	$ 64,774
Cost of sales and expenses	(31,480)	(29,258)	(55,659)	(59,117)
Joint venture net (loss) income	(5,720)	(1,610)	(9,633)	5,657
Our share of net (loss) income	(1,353)	1,465	(2,849)	2,932
Corporate Joint Venture [Member] | Homebuilding [Member] | Land Development Venture [Member]
Cash and cash equivalents	1,642		1,642		$ 1,755
Inventories	$ 11,692		$ 11,692		$ 11,767
Other assets
Total assets	$ 13,334		$ 13,334		$ 13,522
Accounts payable and accrued liabilities	992		992		669
Notes payable	3,319		3,319		3,774
Total liabilities	4,311		4,311		4,443
Hovnanian Enterprises, Inc.	3,271		3,271		3,122
Others	5,752		5,752		5,957
Total equity	9,023		9,023		9,079
Total liabilities and equity	$ 13,334		$ 13,334		$ 13,522
Debt to capitalization ratio	27.00%		27.00%		29.00%
Revenues	$ 521	1,483	$ 1,617	2,615
Cost of sales and expenses	(96)	(1,722)	(1,319)	(2,807)
Joint venture net (loss) income	425	(239)	298	(192)
Our share of net (loss) income	213	(119)	149	(96)
Corporate Joint Venture [Member] | Homebuilding [Member]
Cash and cash equivalents	31,399		31,399		$ 29,611
Inventories	412,477		412,477		326,581
Other assets	19,536		19,536		11,225
Total assets	463,412		463,412		367,417
Accounts payable and accrued liabilities	40,583		40,583		30,663
Notes payable	120,171		120,171		116,328
Total liabilities	160,754		160,754		146,991
Hovnanian Enterprises, Inc.	69,571		69,571		60,458
Others	233,087		233,087		159,968
Total equity	302,658		302,658		220,426
Total liabilities and equity	$ 463,412		$ 463,412		$ 367,417
Debt to capitalization ratio	28.00%		28.00%		35.00%
Revenues	$ 26,281	29,131	$ 47,643	67,389
Cost of sales and expenses	(31,576)	(30,980)	(56,978)	(61,924)
Joint venture net (loss) income	(5,295)	(1,849)	(9,335)	5,465
Our share of net (loss) income	$ (1,140)	1,346	$ (2,700)	2,836
Debt to capitalization ratio	28.00%		28.00%
Our share of net (loss) income	$ (1,346)	$ 1,466	$ (2,826)	$ 2,918

Note 20 - Fair Value of Finan63

Note 20 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Oct. 31, 2015
Loan Origination Commitments [Member] | Maximum [Member]
Number of Days in Committment			60 days
Loan Origination Commitments [Member]
Loan Applications in Process	$ 798.5		$ 798.5
Interest Rate Committed Loan Applications [Member]
Interest Rate Committed Loan Applications	60.1		60.1
Fair Value, Inputs, Level 2 [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Notes Payable, Fair Value Disclosure	487.5		487.5		$ 689.6
Fair Value, Inputs, Level 3 [Member] | Senior Secured Notes [Member]
Notes Payable, Fair Value Disclosure	809.2		809.2		869.4
Fair Value, Inputs, Level 3 [Member] | Senior Amortizing Notes [Member]
Notes Payable, Fair Value Disclosure	10.5		10.5		12.8
Fair Value, Inputs, Level 3 [Member] | Senior Exchangeable Notes [Member]
Notes Payable, Fair Value Disclosure	64		64		69
Loans Held for Sale Mortgages Unpaid Principal	118.4		118.4		$ 122.7
Other Commitment	27.5		27.5
Impairment of Real Estate	$ 5.4	$ 3.5	$ 15.1	$ 4.4

Note 20 - Financial Instruments

Note 20 - Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Oct. 31, 2015
Fair Value, Inputs, Level 2 [Member] | Portion at Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]
Mortgage loans held for sale (1)	$ 130,017	$ 129,818
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Lock Commitments [Member]
Derivative Fair Value	23	(7)
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member]
Derivative Fair Value	(41)	509
Total	$ 129,999	$ 130,320

Note 20 - Changes in Fair Value

Note 20 - Changes in Fair Values Included in Income (Loss) (Details) - Financial Services Revenue Line Item [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Loans Held for Sale [Member]
Changes in fair value included in net loss all reflected in financial services revenues	$ 1,178	$ 233	$ 3,829	$ 173
Interest Rate Lock Commitments [Member]
Changes in fair value included in net loss all reflected in financial services revenues	377	325	30	59
Forward Contracts [Member]
Changes in fair value included in net loss all reflected in financial services revenues	$ 593	$ 880	$ 550	$ 498

Note 20 - Assets Measured at Fa

Note 20 - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Fair Value, Inputs, Level 3 [Member] | Sold and Unsold Homes and Lots Under Development [Member] | Fair Value, Measurements, Nonrecurring [Member]
Pre-Impairment Amount	$ 15,710	$ 11,055	$ 44,238	$ 16,756
Total Losses	4,730	3,543	14,399	4,466
Fair Value	10,980	7,512	29,839	12,290
Fair Value, Inputs, Level 3 [Member] | Land and Land Options Held for Future Development or Sale [Member] | Fair Value, Measurements, Nonrecurring [Member]
Pre-Impairment Amount	1,012		1,169
Total Losses	646		694
Fair Value	366		475
Pre-Impairment Amount	16,700	11,000	45,400	16,700
Total Losses	$ (5,400)	$ (3,500)	$ (15,100)	$ (4,400)

Note 21 - Financial Informati67

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Apr. 30, 2016	Oct. 31, 2015		Nov. 05, 2014
Senior Secured Notes [Member] | Subsidiary Issuer [Member]
Debt Instrument, Face Amount	$ 992,000
Senior Notes	982,100
Senior Secured Notes [Member]
Senior Notes	982,086	$ 981,346	[1]
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] | Subsidiary Issuer [Member]
Debt Instrument, Face Amount	$ 607,600
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] | The 7.0% 2019 Notes Member]
Debt Instrument, Interest Rate, Stated Percentage	7.00%	7.00%
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior Notes	$ 607,575	$ 780,319	[1]
Senior Amortizing Notes [Member] | Subsidiary Issuer [Member]
Senior Notes	10,500
Senior Amortizing Notes [Member]
Senior Notes	$ 10,516	12,811	[1]
Debt Instrument, Interest Rate, Stated Percentage	11.00%
Senior Exchangeable Notes [Member]
Senior Notes	$ 75,677	$ 73,771	[1]
Senior Notes [Member] | The 7.0% 2019 Notes Member]
Debt Instrument, Interest Rate, Stated Percentage	7.00%
Senior Notes [Member] | 8.0% Senior Notes Due 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.00%
8.0% Senior Notes Due 2019 [Member]
Debt Instrument, Face Amount				$ 250,000
Debt Instrument, Interest Rate, Stated Percentage	8.00%			8.00%
Number of Wholly Owned Subsidiaries	1
Exchangeable Note Unit Rate Stated Percentage	6.00%
Direct or Indirect Ownership in Guarantor Subsidiaries Percentage	100.00%
[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 21 - Consolidating Condens

Note 21 - Consolidating Condensed Financial Statements - Balance Sheets (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Oct. 31, 2015
Subsidiary Issuer [Member] | Reportable Legal Entities [Member] | Homebuilding [Member]
Assets	$ 102,903	$ 230,358
Liability	73	87
Subsidiary Issuer [Member] | Reportable Legal Entities [Member]
Assets	1,551,643	1,717,871
Income taxes receivable	(73,884)	(89,212)
Intercompany receivable	1,522,624	1,575,712
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		1,013
Notes payable	1,760,690	1,933,119
Amounts due to consolidated subsidiaries	26,059
Stockholders’ (deficit) equity	(235,179)	(215,335)
Total liabilities and equity	1,551,643	1,717,871
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member] | Homebuilding [Member]
Assets	1,474,850	1,553,811
Liability	640,813	588,854
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member] | Financial Services [Member]
Assets	14,937	15,680
Liability	14,580	15,677
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Assets	2,131,942	2,203,816
Income taxes receivable	227,575	251,293
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	414,580	383,032
Notes payable	4,030	2,132
Intercompany payable	1,375,955	1,453,311
Stockholders’ (deficit) equity	96,564	143,842
Total liabilities and equity	2,131,942	2,203,816
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member] | Homebuilding [Member]
Assets	486,093	367,869
Liability	125,561	65,947
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member] | Financial Services [Member]
Assets	145,775	144,301
Liability	122,126	121,106
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Assets	660,101	570,472
Income taxes receivable	25	22
Intercompany receivable	28,208	58,280
Notes payable	253	384
Stockholders’ (deficit) equity	412,161	383,035
Total liabilities and equity	660,101	570,472
Parent Company [Member] | Reportable Legal Entities [Member] | Homebuilding [Member]
Liability	2,823	3,076
Parent Company [Member] | Reportable Legal Entities [Member]
Assets	140,353	128,176
Income taxes receivable	140,353	128,176
Intercompany payable	174,877	180,681
Amounts due to consolidated subsidiaries	114,975	72,503
Stockholders’ (deficit) equity	(152,322)	(128,084)
Total liabilities and equity	140,353	128,176
Consolidation, Eliminations [Member]
Assets	(1,965,412)	(2,018,037)
Intercompany receivable	(1,550,832)	(1,633,992)
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	(414,580)	(384,045)
Intercompany payable	(1,550,832)	(1,633,992)
Amounts due to consolidated subsidiaries	(141,034)	(72,503)
Stockholders’ (deficit) equity	(273,546)	(311,542)
Total liabilities and equity	(1,965,412)	(2,018,037)
Homebuilding [Member]
Assets	2,063,846	2,152,038	[1]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	70,061	61,209
Liability	769,270	657,964	[1]
Financial Services [Member]
Assets	160,712	159,981	[1]
Liability	136,706	136,783	[1]
Assets	2,518,627	2,602,298	[1]
Income taxes receivable	294,069	290,279
Liability	2,670,949	2,730,382	[1]
Notes payable	1,764,973	1,935,635	[1]
Stockholders’ (deficit) equity	(152,322)	(128,084)	[1]
Total liabilities and equity	$ 2,518,627	$ 2,602,298	[1]
[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 21 - Consolidating Conde69

Note 21 - Consolidating Condensed Financial Statements - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Homebuilding [Member]
Homebuilding revenue	$ 523,418	$ 390,898	$ 998,328	$ 756,087
Total expenses	525,553	392,535	992,173	750,044
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Financial Services [Member]
Financial services revenue	2,676	1,935	4,921	3,768
Total expenses	1,823	1,556	3,447	3,129
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Intercompany charges	25,838	31,939	60,301	60,321
Total revenues	526,094	392,833	1,003,249	759,855
Total expenses	553,214	426,030	1,055,921	813,494
(Loss) income from unconsolidated joint ventures	7		23	(14)
(Loss) income before income taxes	(27,113)	(33,197)	(52,649)	(53,653)
Income Tax Expense (Benefit)	4,152	(4,016)	28,599	2,966
Equity in (loss) income of consolidated subsidiaries	15,995	13,332	31,548	27,203
Net (loss) income	(15,270)	(15,849)	(49,700)	(29,416)
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Homebuilding [Member]
Homebuilding revenue	114,302	65,594	196,771	134,997
Total expenses	102,757	58,384	177,490	118,865
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Financial Services [Member]
Financial services revenue	14,327	10,522	30,308	19,811
Total expenses	7,795	5,932	14,386	11,608
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Intercompany charges	729	66	806	64
Total revenues	128,629	76,182	227,079	154,808
Total expenses	111,281	64,316	192,682	130,537
(Loss) income from unconsolidated joint ventures	(1,353)	1,466	(2,849)	2,932
(Loss) income before income taxes	$ 15,995	13,332	31,548	27,203
Income Tax Expense (Benefit)
Net (loss) income	$ 15,995	13,332	31,548	27,203
Reportable Legal Entities [Member] | Subsidiary Issuer [Member] | Homebuilding [Member]
Total expenses	33,396	38,387	69,207	76,215
Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Intercompany charges	26,567	31,873	61,107	60,385
Total revenues	26,567	31,873	61,107	60,385
Total expenses	33,396	38,387	69,207	76,215
(Loss) income before income taxes	(6,829)	(6,514)	(8,100)	(15,830)
Income Tax Expense (Benefit)	(8,410)		(15,328)
Equity in (loss) income of consolidated subsidiaries	(13,562)	(13,558)	(27,072)	(26,364)
Net (loss) income	(11,981)	(20,072)	(19,844)	(42,194)
Reportable Legal Entities [Member] | Parent Company [Member] | Homebuilding [Member]
Total expenses	(343)	3,082	1,597	6,793
Reportable Legal Entities [Member] | Parent Company [Member] | Financial Services [Member]
Total expenses		20		88
Reportable Legal Entities [Member] | Parent Company [Member]
Total expenses	(343)	3,102	1,597	6,881
(Loss) income before income taxes	343	(3,102)	(1,597)	(6,881)
Income Tax Expense (Benefit)	(4,885)	(5,906)	(19,435)	(18,192)
Equity in (loss) income of consolidated subsidiaries	(13,689)	(22,363)	(42,472)	(45,246)
Net (loss) income	(8,461)	(19,559)	(24,634)	(33,935)
Consolidation, Eliminations [Member]
Intercompany charges	(26,567)	(31,939)	(61,107)	(60,385)
Total revenues	(26,567)	(31,939)	(61,107)	(60,385)
Total expenses	$ (26,567)	(31,939)	$ (61,107)	(60,385)
(Loss) income before income taxes
Income Tax Expense (Benefit)
Equity in (loss) income of consolidated subsidiaries	$ 11,256	22,589	$ 37,996	44,407
Net (loss) income	11,256	22,589	37,996	44,407
Homebuilding [Member]
Homebuilding revenue	637,720	456,492	1,195,099	891,084
Total revenues	637,792	456,531	1,195,191	891,159
Total expenses	661,363	492,388	1,240,467	951,917
(Loss) income before income taxes	1,283	1,077	9,647	14,608
Financial Services [Member]
Financial services revenue	17,003	12,457	35,229	23,579
Total revenues	17,003	12,457	35,229	23,579
Total expenses	9,618	7,508	17,833	14,825
(Loss) income before income taxes	7,385	4,949	17,396	8,754
Total revenues	654,723	468,949	1,230,328	914,663
Total expenses	670,981	499,896	1,258,300	966,742
(Loss) income from unconsolidated joint ventures	(1,346)	1,466	(2,826)	2,918
(Loss) income before income taxes	(17,604)	(29,481)	(30,798)	(49,161)
Income Tax Expense (Benefit)	(9,143)	(9,922)	(6,164)	(15,226)
Net (loss) income	$ (8,461)	$ (19,559)	$ (24,634)	$ (33,935)

Note 21 - Consolidating Conde70

Note 21 - Consolidating Condensed Financial Statements - Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Parent Company [Member] | Reportable Legal Entities [Member]
Net (loss) income	$ (8,461)	$ (19,559)	$ (24,634)	$ (33,935)
Adjustments to reconcile net (loss) income to net cash used in operating activities			(12,034)	(7,989)
Net cash (used in) provided by operating activities			(36,668)	(41,924)
Intercompany financing activities			36,668	41,924
Net cash (used in) provided by financing activities			36,668	41,924
Subsidiary Issuer [Member] | Reportable Legal Entities [Member] | Related to Letters of Credit [Member]
Increase (decrease) in restricted cash			325
Subsidiary Issuer [Member] | Reportable Legal Entities [Member]
Net (loss) income	(11,981)	(20,072)	(19,844)	(42,194)
Adjustments to reconcile net (loss) income to net cash used in operating activities			22,078	18,740
Net cash (used in) provided by operating activities			2,234	(23,454)
Investments in and advances to unconsolidated joint ventures			(130)	81
Distributions of capital from unconsolidated joint ventures			186	33
Intercompany investing activities			80,160	(165,853)
Net cash (used in) provided by investing activities			80,169	(165,805)
Payments related to senior notes and senior amortizing notes			(175,040)	(2,062)
Borrowings from revolving credit facility			3,000
Deferred financing costs from land bank financing programs and note issuances				(4,627)
Net cash (used in) provided by financing activities			(172,040)	243,311
Net decrease in cash			(89,637)	54,052
Cash and cash equivalents balance, beginning of period			199,318	159,508
Cash and cash equivalents balance, end of period	109,681	213,560	109,681	213,560
Distributions of capital from unconsolidated joint ventures			(186)	(33)
Proceeds from senior notes				250,000
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Net (loss) income	(15,270)	(15,849)	(49,700)	(29,416)
Adjustments to reconcile net (loss) income to net cash used in operating activities			120,711	(101,623)
Net cash (used in) provided by operating activities			71,011	(131,039)
Proceeds from sale of property and assets			94	952
Purchase of property, equipment & other fixed assets and acquisitions			(1,620)	(1,172)
Investments in and advances to unconsolidated joint ventures			(990)	146
Distributions of capital from unconsolidated joint ventures			1,087	339
Net cash (used in) provided by investing activities			(1,429)	265
Net payments related to mortgages and notes			(13,649)	6,336
Net proceeds from model sale leaseback financing programs			3,179	11,746
Net proceeds from land bank financing programs			90,425	(9,124)
Deferred financing costs from land bank financing programs and note issuances			(3,380)	(1,016)
Intercompany financing activities			(146,900)	124,498
Net cash (used in) provided by financing activities			(70,325)	132,440
Net decrease in cash			(743)	1,666
Cash and cash equivalents balance, beginning of period			(4,800)	(4,726)
Cash and cash equivalents balance, end of period	(5,543)	3,060	(5,543)	3,060
Distributions of capital from unconsolidated joint ventures			(1,087)	(339)
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member] | Related to Mortgage Company [Member]
Increase (decrease) in restricted cash			(204)	1,645
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Net (loss) income	15,995	13,332	31,548	27,203
Adjustments to reconcile net (loss) income to net cash used in operating activities			(99,312)	(86,915)
Net cash (used in) provided by operating activities			(67,764)	(59,712)
Proceeds from sale of property and assets			21	31
Purchase of property, equipment & other fixed assets and acquisitions			(31)
Investments in and advances to unconsolidated joint ventures			(15,623)	(15,766)
Distributions of capital from unconsolidated joint ventures			4,164	7,039
Net cash (used in) provided by investing activities			(11,673)	(7,051)
Net payments related to mortgages and notes			(5,490)	8,375
Net proceeds from model sale leaseback financing programs			(1,960)	1,595
Net proceeds from land bank financing programs			24,048	(3,879)
Borrowings from revolving credit facility			257	6,047
Deferred financing costs from land bank financing programs and note issuances			(1,201)	(850)
Intercompany financing activities			30,072	(569)
Net cash (used in) provided by financing activities			45,726	10,719
Net decrease in cash			(33,711)	(56,044)
Cash and cash equivalents balance, beginning of period			59,227	107,116
Cash and cash equivalents balance, end of period	25,516	51,072	25,516	51,072
Distributions of capital from unconsolidated joint ventures			(4,164)	(7,039)
Consolidation, Eliminations [Member]
Net (loss) income	11,256	22,589	37,996	44,407
Adjustments to reconcile net (loss) income to net cash used in operating activities			(37,996)	(44,407)
Intercompany investing activities			(80,160)	165,853
Net cash (used in) provided by investing activities			(80,160)	165,853
Intercompany financing activities			80,160	(165,853)
Net cash (used in) provided by financing activities			80,160	(165,853)
Related to Mortgage Company [Member]
Increase (decrease) in restricted cash			(204)	1,645
Related to Letters of Credit [Member]
Increase (decrease) in restricted cash			325
Net (loss) income	(8,461)	(19,559)	(24,634)	(33,935)
Adjustments to reconcile net (loss) income to net cash used in operating activities			(6,553)	(222,194)
Net cash (used in) provided by operating activities			(31,187)	(256,129)
Proceeds from sale of property and assets			115	983
Purchase of property, equipment & other fixed assets and acquisitions			(1,651)	(1,172)
Investments in and advances to unconsolidated joint ventures			(16,743)	(15,539)
Distributions of capital from unconsolidated joint ventures			5,065	7,345
Net cash (used in) provided by investing activities			(13,093)	(6,738)
Net payments related to mortgages and notes			(19,139)	14,711
Net proceeds from model sale leaseback financing programs			1,219	13,341
Net proceeds from land bank financing programs			114,473	(13,003)
Payments related to senior notes and senior amortizing notes			(175,040)	(2,062)
Borrowings from revolving credit facility			257	6,047
Deferred financing costs from land bank financing programs and note issuances			(4,581)	(6,493)
Net cash (used in) provided by financing activities			(79,811)	262,541
Net decrease in cash			(124,091)	(326)
Cash and cash equivalents balance, beginning of period			253,745	261,898
Cash and cash equivalents balance, end of period	$ 129,654	$ 261,572	129,654	261,572
Distributions of capital from unconsolidated joint ventures			$ (5,065)	(7,345)
Proceeds from senior notes				$ 250,000

Note 22 - Transactions with R71

Note 22 - Transactions with Related Parties (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Tavit Najarian [Member]
Related Party Transaction, Amounts of Transaction	$ 0.4	$ 0.2	$ 0.7	$ 0.5

Note 23 - Subsequent Events (De

Note 23 - Subsequent Events (Details Textual) - USD ($)	May. 15, 2016	May. 31, 2016	Apr. 30, 2016	Apr. 30, 2015	Oct. 31, 2015
Subsequent Event [Member] | The 7.5% 2016 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Repayments of Senior Debt	$ 86,500,000
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Subsequent Event [Member]
Proceeds from Sale of Land and Contribution of Land to Joint Venture		$ 75.10
The 7.5% 2016 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			7.50%		7.50%
Repayments of Senior Debt			$ 175,040,000	$ 2,062,000