House-Raising on the Hill

Preserving the American dream of owning a home is a laudable idea, but not the way Congress has decided to go about it. True, the Commerce Department announced last week that construction on new homes in April dropped to an annual adjusted rate of 881,000, a slump of 6.4% from March. True, housing starts during the first three months of 1982 were the lowest for any first quarter since World War II. And true, a poll conducted this year by Market Opinion Research showed that many Americans would once again be able to afford homes if mortgage rates, now hovering at...

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