Housing: Demand Down, Prices Up

Anyone who sets out to buy a house this fall will run into a bothersome paradox: while the demand for houses is declining the asking prices are rising. The number of housing starts in 1965 will dip 4% to 6% below last year's disappointing 1,591,000, and Treasury Secretary Henry Fowler calls housing one the U.S. economy's few "sputtering" segments. Yet the home buyer has to pay at least 3% more than a year ago. Throughout the U.S., reports the Census Bureau, the median price for new houses has jumped in the past year...

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