NAHB urges HUD to back condo financing under federal programs
Builder Robert Foley testifies at a HUD condo hearing for the National Association of Home Builders. He cites an 83 percent drop in multi family starts over two years and 65 percent fall from 1972 highs, with 250 000 unsold condos and 405 000 unsold single family homes amid high rates and credit shortages. Foley seeks changes to finance condo and multi family units via the Emergency Home Purchase Act of 1974 and FHA mortgage insurance under GNMA Tandem Plan, while opposing national condo market regulation. He notes NAHB’s self regulation and the How program safeguarding buyers for 10 years.
MENTIONED IN THIS ARTICLE
Ford Administration
Robert Foley
Washington Area
Department of Housing and Urban Development
HUD
National Association of Home Builders
NAHB
Foley
Congress
FHA
Realtors warn waiting for lower mortgage rates costs buyers money
National Association of Realtors president Art Leitch cautions that home seekers who delay purchases hoping for rate drops may lose money. He cites 1974 price gains near 11 percent and projected 1975 increases, noting higher interest on larger loans and lost tax deductions plus rental costs and delayed equity.
MENTIONED IN THIS ARTICLE
Art S. Leitch
The
National Association of Realtors
Leitch
San Diego Realtor
Real Estate Law Course Offered at Scottsdale CC
Scottsdale Community College offers a Tuesday evening course on Arizona real estate law for license-renewal credit. Attorney John V. Riggs teaches 7 to 9:30 p.m. in room 101 at Coronado High School, covering property laws, contracts, landlord tenant rules, and related topics with a $15 fee.
MENTIONED IN THIS ARTICLE
Arizona
Scottsdale Community College
SCC
John V. Riggs
Coronado High School
74Th St
Real estate lending in downturn slows housing start growth
In a Money column James J. Mitchell reports that housing starts plunged from 2.05 million in 1973 to 1.34 million last year, with December at an adjusted 868000. Mortgage bankers and banks face liquidity, high rates, and reduced loan activity while forecasts of a rebound fade amid economic turbulence.
MENTIONED IN THIS ARTICLE
James J. Mitchell Copley
U.S
Commerce Department
Leighton B. Tuck
United California Bank
Tuck
Near East
Also Mentioned on This Page
North Scottsdale
Chaparral
Camelback Rd
Rare Earth
Miller Rd
Scottsdale
Kaiser-Aetna
vRasant
HAL Rich Realty
North
Scottsdale Road
Sunrise Villas
Vista DR
Chapa Park
Ichaparral RD
Isotas
Phoenix
Chaparral Rd
78Th St
Vista Drive
Carecrook Rd
Carefree Dr
Carefree
Joe Vaccaro
Assoc
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