HOUSING: Levittown, Pa.

As the world's biggest homebuilder, Long Island's Bill Levitt has been hard hit by the squeeze of credit restrictions and materials shortages. He had to cut his 1951 output of low-priced houses to 2,500, compared to 5,333 last year, and abandon altogether his "Landia" project for 1,750 homes in the $13,000 class. To get started again at the pace he and his brother Al need for their cost-cutting methods, Bill Levitt has been roaming the U.S. looking for a big, new site in a critical defense area. Last week he announced that he had found one in the southern...

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