These are desperate times for desperate people.  Real estate shops are opening in Wal-Marts.  Realtors are on roadsides with signs.  And homebuilder CEOs can’t face reality.

According to CEO Ara Hovnanian, “While the housing market is definitely in a slump, we are still selling homes.” 

And he actually believes that.  No, really.

The company, whose stock is 40% off 2007 highs, recorded an $81 million Q3 loss, and announced it won’t pay dividends on Series A preferred stock, is being lead by a guy who believes, “People want to buy homes, but the media has made them nervous.  They just need to realize that there's no better time to buy a home.”

Sadly, there’s plenty to be nervous about.  And no, now is not the time to buy a home. 

Still, Hovnanian remains optimistic.  “While October and November were slow, the company saw a faster pace of home sales in the first three weeks of December.”

Poor guy, maybe he forgot his medication?