U.S. Business: Housing: Rising

The Kennedy Administration's economists made some extravagantly incorrect predictions about the course of the U.S. economy for 1962, but they were right on the nose with their forecasts for housing. A year ago, the Administration predicted that urban starts of new houses and apartment units would rise about 9% during 1962, to a total of some 1,400,000. Last week's report from the Commerce Department strongly indicates that the final total will hit that mark.

Builders are getting their biggest boost from the demand for new apartments. A decade ago, when the great yearning was for a home in the suburbs, apartments accounted...

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!