Eased credit restrictions on housing went into effect last week. Under the new Defense Housing Act, down payments on homes may now be as low as 4%, need be no more than 20% for houses $12,000 and under (as against 5% and 25.8% under the old regulations), an average drop of 4.1%.
House building could stand a boost. Private home building in August slumped to $920 million, one-third under the same month last year; the dollar volume of private commercial building dropped 6%, while industrial building doubled. With easier credit, builders who have been predicting dire...
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