HOVNANIAN ENTERPRISES, INC.

Exhibit 12

Ratio of Earnings to Fixed Charges

(Dollars In Thousands)	Actual Year 10/05		Actual Year 10/04		Actual Year 10/03		Actual Year 10/02		Actual Year 10/01
Net Income (Loss)		471,847		348,681		257,380		137,696		63,686
Add:
Federal and State Inc Taxes		308,738		201,091		154,138		88,034		42,668
Interest Expensed Res & Comm		89,721		75,042		63,658		60,371		51,446
Interest Expensed Mtg & Fin Subs		5,801		2,765		2,487		2,337		3,180
Amort. of Bond Prepaid Exp.		2,012		10,999		2,978		2,119		976
Amort. of Bond Discount		715		571		514		441		367
Total Earnings		878,834		639,150		481,155		290,998		162,323
Fixed Charges:
Interest Incurred Res & Comm		102,930		87,674		66,332		57,406		47,272
Interest Incurred Mtg & Fin Subs		5,801		2,765		2,487		2,337		3,180
Amort. of Bond Prepaid Exp.		2,012		10,999		2,978		2,119		976
Amort. of Bond Discount		715		571		514		441		367
Total Fixed Charges		111,458		102,010		72,311		62,303		51,795
Ratio of Earnings to Fixed Charges		7.9		6.3		6.7		4.7		3.1

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(Dollars In Thousands)	Actual Year 10/05		Actual Year 10/04		Actual Year 10/03		Actual Year 10/02		Actual Year 10/01
Total Earnings		878,834		639,150		481,155		290,998		162,323
Total Fixed Charges		111,458		102,010		72,311		62,303		51,795
Preferred Stock Dividends		4,563		–		–		–		–
Combined Fixed Charges and Preferred Stock Dividends		116,021		102,010		72,311		62,303		51,795
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		7.6		6.3		6.7		4.7		3.1