HOUSING: Props for the Future

In a flurry of budget cutting last January, the Nixon Administration clamped an abrupt moratorium on all Government-subsidized housing for low-income families. Since then, tight money and towering interest rates have put an equally prohibitive crimp in the house-buying plans of middle-income families. As a result, housing starts in the U.S. have severely declined from once record levels; last month they sank to a yearly rate of 2,045,000, their lowest level since October 1971.

Last week, in his long-awaited housing message, President Nixon tossed out a bundle of proposals for stimulating home building at all price levels. He also presented...

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