REAL ESTATE: New Houses for Old

A California building firm last week stole a page from auto dealers and announced a novel home-selling plan: trade in the old-model house for a new one. The Liberty Building Co., developers of a 3,500-home tract in what was once a walnut grove in west Pomona, offered to take old houses in trade from anyone who buys one of their new $15,000 houses.

Under the plan, the company and seller agree on a price for the old dwelling and put it on the market. Normally, the owner's equity in it is enough for...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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!