The credit-starved housing industry has sunk proportionately faster and fur ther in 1966, compared with where it stood a year ago, than the whole U.S.
economy did during four years of Depression in the '30s. Since last Decem ber, when tightening money began to choke off housing's flow of mortgage funds, the annual rate of home and apartment starts has dropped more than 50%, to a 20-year low. In the latest count, in October, private-housing starts were scraping along at a mere 848,000 a year. At that pace, the prosperous U.S.
is building less new housing per capita than such countries as...
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