The fortunes of few separate areas of business are so closely linked as those of savings and loan associations and home building. S & Ls provide 43% of the money to finance new homes, put nearly all of their lendable funds into housing. Squeezed by the savings war, S & Ls have been forced to slash their mortgage lending, causing builders and lenders alike to forecast a severe slump within a few months in the already limping housing industry. "Not only are lenders refusing to talk to home builders about plans for this summer and fall," says Executive Vice...
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