Business: WHY U.S. HOUSING COSTS TOO MUCH

THE U.S. has long prided itself on being the best-housed nation in human history. Now, that standing is jeopardized by the soaring cost of homes and apartments. Only last year, according to one recent survey, the cost of housing jumped 10% in most areas of the U.S. "Housing prices are going up faster than people's ability to pay," warns Walter Hoadley, senior vice president and economist of the Bank of America. "The demand for housing is on a collision course with rising costs."

Recognizing that trend, President Johnson in February created a Cabinet Committee on Price Stability to delve into industries "which...

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