Time Clock, Aug. 27, 1956

HOUSE BUYING will be easier under new FHA regulations reducing down payments on old houses to level now prevailing on new houses. Instead of minimum down payment of 12% of first $9,000 of price, 27 % on rest, old-house buyer can now pay 7 % of first $9,000, 27 % on rest. On $15,000 house this means minimum down payment drops from $2,700 to $2,250.

NEW CAR OUTPUT begins as Ford, Chrysler, Studebaker complete model runs and join all other producers except G.M. in shutting down for the 1957 model changeover. Carryover of current...

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