How much does a $5,000 house cost? Said the National Housing Agency this week: $8,250.
Since the spring of 1940, said NHA, prices of houses under $6,000 have gone up 65%. Medium-priced houses, $6,000 to $12,000, are up 57%; undeveloped land and building lots, 60 to 62%. The biggest price jump has been in low-cost houses on the West Coast, which are now selling at 96% above 1940 levels.
The rise in the price of houses and land, said NHA, is out of line with the 30% advance in the cost of living. Obvious reasons, according to NHA, are: 1) the...
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