Down Payment Cuts Under Regulation X Relax Housing Prices
The Housing and Home Finance Agency and the Federal Reserve Board loosened down payment requirements on new housing from modest one family homes to large apartments. Veterans pay no down on homes $7000 or less. non veterans see cuts from 10 to 5 percent in that range. For higher priced homes, down payments fell for both groups on sliding scale up to $18,000, with ongoing bank loan tightness noted. Industry leaders cautioned that reductions won’t ease loan access and Congress faces ongoing banking curbs. Housing Chief Raymond Foley called outright suspension not justified.
MENTIONED IN THIS ARTICLE
Dallas
Detroit
Housing and Home Finances Agency
Federal Reserve Board
Farmers Home Administration
Ans
Congress
National Assn. of Home Builders
lVeterans
Raymond M. Foley
Too Limited, Realtor Finds Government's Home Order
Long Beach realtor Robert Walker says the government's order easing down payments is too limited to help buyers of new homes. He notes the measure cuts down payments to 5 percent for under 7000 dollar homes but leaves middle-priced homes requiring 10 to 40 percent. Resales have been slow, yet he expects improvement in new sales as others in the trade view potential benefits for buyers and markets vary.
MENTIONED IN THIS ARTICLE
Long Beach
Robert Walker
Walker & Lee
Walker
Iup
Acros
United Press
LBCC Names Five Winners of Scholarships
Long Beach City College announced five Faculty Club scholarship winners for 1952. Winners are June Smith Polytech High School Leona Porterfield Woodrow Wilson Barbara Rydell Jordan Temple Gale Excelsior Sheralee Horstman Downey High School. Each will receive 50 dollars for books and supplies and enroll at Lakewood campus this September.
MENTIONED IN THIS ARTICLE
Donald H. Scott
City College
Scott
Temple Gayle
Excelsior High
Sheralee Horsiman
Downey
June Smith
Polytechnic
Leone Porterfield
Wilson
Barbara Rydell
Jordan
Barbera Kirk
Long Beach City College
Polytech
Nic High School
Leona Mae Porterfield
Woodrow Wilson
Temple Gale
Excelsior
Sheralee Horstman
Downey High School
Lakewood
High Court to Rule on Separate Public Schools
The Supreme Court agreed to rule on the constitutionality of equal but separate public schools for white and Negro children, a keystone of the South's racial segregation, signaling a major civil rights decision.
MENTIONED IN THIS ARTICLE
High Court
Washington
Supreme Court
Board approves 6 percent school salary raise
The Long Beach school board approves a 6 percent pay hike boosting payroll by 752 400 for certificated and classified staff. Beginning teachers rise to 83409 annually from 3216 minimum, with classified minimum increasing to 1855. Increments for experience rise by 6 percent, with total costs allocated without raising taxes.
MENTIONED IN THIS ARTICLE
Douglas A. Newcomb
Argentina Records Cold Wave With Antarctic Comparison
In Buenos Aires and interior Argentine locations the temperature fell to 23 degrees Fahrenheit with some interior points reporting 14 degrees. The Argentine base on Deception Island logged a 32 degree minimum, while Antarctica stayed warmer at that time.
MENTIONED IN THIS ARTICLE
Buenos Aires
Argentine
Antarctica
Deception IM
Antarctic
L A City Council Votes to Abandon Housing Program
Los Angeles council votes 31 to 2 to liquidate the public housing contract and seek repayment to the federal government. Mayor Bowron and the City Housing Authority refuse cooperation, arguing nothing to negotiate, with estimated federal funds spent near 13 million.
MENTIONED IN THIS ARTICLE
L.A
Los Angeles
City Housing Authority
Fletcher Bowron
CHA
Selznick testifies on Rossellini and Bergman at paternity case
Hollywood producer David Selznick described Italian director Roberto Rossellini as a man with a bleeding heart for the poor and said morals are not entirely a matter of sex while testifying for Ingrid Bergman in a hearing over her daughter Pia Lindstrom's visit to Italy. Judge Thurmond Clarke, who had divorce proceedings with Lindstrom, testified he saw no detriment to the child in the Rossellini Bergman household during his Rome visit.
MENTIONED IN THIS ARTICLE
Hollywood
David 0
Selznick Today
Roberto Rossellini
Nick
Ingrid Bergman
Peter Lindgstrom
Pia
Italy
Lindstrom
Ross
Selznick
Rossellini
Miss Bergman
Rome
Santa Marinella
Sef Fom
Ingrid
Rossel- Maf
Thurmond Clarke
California
Rossellinis
Clarke
Rosseling
Rosseltin
Big Steel and Union Break Off Talks Amid Deadlock
The dispute centers on the union shop demand requiring all employees to join the union to keep jobs. CIO Steelworkers head Murray says his union rejected the final wage offer and the strike continues. Government cooperation on essential military production is pledged, with talks about resuming jet engine and defense output. Steel company official Stephens and Murray discuss resumption when government needs are defined. House leadership anticipates no immediate action while Senate moves to vote on a controls bill amendment for a 120 day cooling off period and a wage panel review.
MENTIONED IN THIS ARTICLE
Sai
Murray
CIO ‘Steelworkers Union
Steelman
John A. Stephens
U. S. Steel Corp
Senate
House
Jonn W. McCormack
Mass
House Banking Committee
Burnet R. Maybank
D-S.c
Senate Banking Committee
Thief Returns $150 After Clerk Busy In Backroom
A hardware store clerk Berti Levin reports a theft at 1 p.m. from the counter at 1843 Sante Fe Ave. An accomplice distracted the clerk in the rear while a man allegedly took $150 from the purse and fled. A woman involved left the scene, and the loss was recorded.
MENTIONED IN THIS ARTICLE
Berti Levin
Sante Fe Ave
Also Mentioned on This Page
LBCC
Board Oks
Southern California
Newcomb
Argentina
Roberto Man
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