HOUSING: Land Rush

On a Long Island plot 20 miles from Manhattan, Builders Levitt & Sons put up a trim two-bedroom bungalow. Like other U.S. builders, they knew a slump had curbed real estate sales; many a new house was going begging because the price was too high. But Bill Levitt felt sure there were plenty of buyers, if the house —and price—were right.

He thought he had the right house. The living room had a big picture window; the fireplace boasted a second opening in the kitchen for indoor barbecues. The kitchen shone with stainless...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!