Housing: Sick Industry

"Senator," said the forlorn constituent calling on Montana's Mike Mans field at the majority leader's Washington office, "I've never been East before, never spoken to a Congressman, and can't afford this trip. So you can appreciate that I've got a serious complaint."

The complaint that he and about 530 other home builders from around the U.S. brought before their Congressmen last week in a one-day lobbying visit was simple: their industry is in a perilous condition. Competition for deposits between commercial banks, which lend primarily to business, and savings institutions, which lend...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

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