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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 13, 1974, Lethbridge, Alberta 16 LETHBRIOGE November 13, Apartment construction expected to pull out of slump soon OTTAWA (CP) Apartment construction may pick up again in a few months after a prolonged tailspin, say housing industry officials. Doug Strange, research director of the Canadian Real Estate Association, said in a telephone interview from Toronto Tuesday that there are signs mortgage interest rates may drop. "As soon as money becomes a little less expensive, apart- ment construction may increase he said. Ian Milroy. a Halifax developer, pointed to moves by ma- jor United States banks to drop their prime lending rates. He said this is a signal that the housing construction situation will improve slowly. Gardner English, chairman of the Mortgage Insurance co. of Canada said recently in a letter to shareholders that short-term and long-term interest rates have started to fall in the last few weeks. "If this trend continues, a decrease in mortgage interest in the 12-12.5 per cent be ex- he said. MICC is the largest private insurer of mortgage loans in the country. But he said financial experts doubt that there will be a rapid decline in mortgage rates. There were likely to be mortgage money shortages for some time. Rental housing construction has been hit particularly hard by soaring interest rates and lack of mortgage money this year. The pace of multiple housing starts in the first 10 months of the year was down 25 per cent from the cor- responding period last year. ___________ This has aggravated the apartment vacancy situation. The average vacancy rate nationally was 2.4 per cent in mid- June, down from 3.3 per cent a year earlier. Eight Canadian cities had vacancy rates below two per cent at mid-year. Federal housing experts consider a rate of three per cent to four per cent is healthy, allowing fair rents and encouraging builders to put up more apartment buildings. Urban Affairs Minister Barnett Danson announced in Sep- tember that he was switching million from other parts.of the housing budget to the rental housing construction program. This would enable another to units to be built. He has also said he will be announcing changes in the ren- tal within a few days. The limited-dividend program allows the Central Mort- gage and Housing Corp. (CMHC) to lend builders money at eight per cent interest with rents fixed for 15 years. The rents are negotiated between the apartment owner and CMHC with increases allowed as costs increase. CMHC has received proposals from builders in 11 cities for units under the ISO-million offer. Some of these proposals may have to be set aside as the ISO-million fund is not sufficient to pay for them all. A CMHC source said there are unlikely to be final deci- sions on the applications for at least another week or 10 days as the deadline for proposals was only last Mr. Danson has said developers don't like the limited-divi- dend program because of the rent control clause. DON'T BE WITHOUT A FIREPLACE TUIC llfiyTCD INSTALL ONE IN A MATTER OF I IIId WIW I CR HOURS, WEIL SHOW YOU HOWI QUICK AND EASY TO INSTALL HEATILATOR FIREPLACE 1, 2. 3 simplicity of installation, versatility and flexibility of placement, unlimited pos- sibilities for facing trim and wall material treatment... all add up to Fireplacing Sim- plified with this wood-burning zero clearance fireplace. It installs in any room, any lo- cation in a matter of hours. THE EXPERTS AT THUNDERBIRD WILL SHOW YOU HOW EASY INSTALLATION IS! MODERN TWISTED SWAG LIGHT This amber swag has brass spin- ning and will add to the decor of your home PL1227A WHIRL-O-WAY DISHWASHER There's no installation with this dishwasher Just I set on your counter top (weight less than 10 Ibs I Snap the hose on to your hot water tap Place the I dishes in the rack. Fill the detergent dispenser with your favorite liquid dishwashing detergent and then turn the hot water on full. m J FIBERGLASS Shower Stall This heavy-duty shower stall I resists stains and scratches and will give your shower new life Size is STAINLESS STEEL SINK Add to the beauty of your kitchen with this high quality kitchen sink Size No. 308 Colour Mtra. WANE FUEL PROPANE FUEL This tank fits most tor- ches, lanterns and camp stoves o A A A o DISTINCTIVE PLASTIC PANEL ATTRACTIVE HALL LIGHT I his is one ol the many hall lights available at your Thunderbird store. WHITE MARBLEMOLD Divider kit. 2'x6'. SHOWER BASE This base installs easily and resists stains. No. 3232. PL101 HORSE POWER GARBAGE DISPOSER Avoid kitchen smells with this powerful dis- poser every kitchen should have one BB30 MORE SPECIALS MAKE YOUR FORCED AIR HUT MORE EFFECTIVE WITH AIR DEFLECTORS WE CUT and THREAD BLACK IRON GALVINIZED PIPE 600-WATT DIMMER SWITCH Add just the nghi mood to any room with ihe addition of dimmer switches WESTINGHOUSE LIGHT BULBS You can be sure n it s Westinghouse Anc you can be sure )he price is right a! T-Bird Th is tfct tight to Ami! quantlttm. Pricm thru Mondly, Novtmbvr IS. 1974 STORE HOURS: Mon.-Wed, 9-6 Thurs.-Fri., 9-9 Saturday 9-5 2020 Mayor Magrath Drive Phone 329-3188 We Welcome Your Chargex (HARC.EX Farmers get only sympathy REGINA (CP) Several hundred farmers received sympathy but little else from Premier Allan Blakeney when they demonstrated Tuesday at the Saskatchewan legislature for more aid to beef producers. The National Farmers Union delegation gave light applause to the premier as he told them he will press the federal government for action on their problems. "If we are going to solve this problem, it's got to be done by a federal system of orderly marketing." The demonstration, follow- ed by a rally that drew more than 500 to the arts centre, was part of NFU-organized protests across the country, including a similar march scheduled today at the Prince Edward Island legislature building and a call for beef producers not to make deliveries Thursday. Beside the long-term meas- ures the Regina delegation wanted the Saskatchewan gov- ernment to seek from the fed- eral government, there was a demand for an interim provin- cial aid program involving grants for each of up to 75 cattle for every producer. REPLY NEGATIVE But Premier Blakeney, speaking from the legislature steps in a cold wind, said he could not agree to the demand He estimated it would cost the Saskatchewan govern- ment million to million, then added that such a program would be un- workable without an orderly- marketing system for beef cattle. And "much as we would like it to be such an or- derly-marketing system would have to come at the federal level. But NFU President Roy Atkinson, in remarks to reporters later, repeated his organr-ation's demand for the grants. Government workers walk out REGINA (CP) Saskatchewan government operations came to a virtual halt Tuesday as about 13.000 civil servants staged study sessions as part of their cam- paign for a special cost-of- living pay increase. Only about 1.000 of the 14.000 members of the Saskatchewan Government Employees Association (SGEA) were not involved in the walkouts. They remained on the job to provide essential services during the one-day stoppage. Asked about the legality of the stoppage. SGEA president Ken Thomas replied. "When you've got 14.000 <-oncerned people, do you have to worry about the legality of SGEA has charged that the government has refused to lis- ten to the SGEA case for across-the-board pay ncreases of monthly. MILL UNDER CONTRACT Most association members are in the second year of two- yrar contracts providing pay increases of 14 per cent the first year and nine per cent the second. Some SGEA members at a 1 efina study session express- ed some disagreement with 1h" procedure in the province- work stoppage, saying no voi taken and they were rmed Saturday of the ;