Mortgage crunch grips home buyers across the U S
The rush to find affordable housing falters as mortgage rates rise and new home starts fall. Bankers blame inflation and higher returns on securities for tight money, while families like Terry and Anita Robinson search for affordable loans. President Ford backed a housing bill but warned it would not yet lift the market quickly.
MENTIONED IN THIS ARTICLE
Terry Robinson
Anita
Indianapolis
Don Carl
Merchants National Bank
Robinsons
Carl
Single family homes may fade as costs hit buyers hard
Builders and bankers warn high mortgage rates threaten home ownership. Duncan of Farm & Home Savings Association notes rising costs and limited mortgage charges push Americans away from savings banks. Carriage Estates' Walter Nolte says condo growth may rise as single homes become unaffordable, with a Walton-like multi generational trend by 1980. Government data show new home prices up from 33600 to 40700 dollars since 1978, an 11 percent rise.
MENTIONED IN THIS ARTICLE
CA. Duncan Jr
Farm & Home Savings Association of
Nevada
Duncan
Treasury Notes
Walter Nolte
Carriage Estates Co
Indianapolis, Ind
Robert Fusari
Achenbach Builders
Essex
Conn
Waltons
Housing aid could backfire says HUD chief
Secretary James T. Lynn warned that large scale federal housing support could heat money markets and raise interest rates. He cautioned against government credit allocation, noted current subsidies totaling about 16.9 billion, and said the best outcome would be lower rates. He is preparing options for Ford ahead of an economic summit.
MENTIONED IN THIS ARTICLE
Washington (Ap
James T. Lynn
Housing and Urban Development
Lynn
HUD
Cbs-Tv
Face the Nation
Ford
Federal Housing Authority
FHA
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Utah
Commerce Department
Robinson
Cari
Vincent
Paulette Lupo
Lake Charles
Lupos
James C. Johnson
Loyola Federal Savings and Loan Association
Maryland
John H. Belé
Natick
Mass
Baton Rouge
Buie
Peter Blampied
Boston Five Cents Savings Bank
Cheryl Schmidt
National Bank of Commerce
Seattle
Wash
James Henschel
Cal Western Savings and Lean
San Francisco
Henschel
Federal Land Bank
Federal Housing Administration
Lakewood
Wayne
Levy
SankAmericard
Pine Ave
Sheraton
Sheraton Hotel
Motor Inn
Sheraton Hotels & Motor
Orr
Eau Scheib
Reat
America
Amaemel
Slabye
Carion
Chirey
Lows Beach
Oarmin Ofove
Araasas
Gieiet Hawanan Gardim
Roy
Cudahy
UPI
Arthur Anthony Lopez
San and Roland Fom Beach
PSA
Long Beach
San Jose
Oakland
Sacramento
San Diego
James T. Lynn Leery
U.S
AP Wireaheta
Tertorla
Alakewoonter
Associated Hearing Aid
Coit
Professonal Weawciwabl
Eline
10Th St
Fly
Thomas
United States
Canada
Ocean Bivd
Nya Ap Wren
Atlantic
Ave
Artesia
S. Pioneer
Garden Grove
Santa Ana
Wilshire
Torrance
Huntington Beach
Fullerton Orange
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