Federal Housing Chief Albert M. Cole, who in November predicted 1,200,000 housing starts for 1956, last week stood up before the National Association of Home Builders in Chicago and cheerfully ate his words. Said he: "I acknowledge that I was too conservative." Cole's new prediction: 1,300,000 starts, only a shade under 1955.
One reason behind Cole's reappraisal was a series of moves by the U.S. Government to ease housing credit. Explained Under Secretary of the Treasury W. Randolph Burgess: "The threat of overexpansion has subsided." Following the increase in the repayment period...
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