iden(e 'o Performance o

Five Yeor Building Boom?

Between now and the end of 1975, the homebuilding industry will experience the biggest five-year boom since the fifties, according to George A. Christie, chief economist, McGraw-Hill Information Systems Co.

He said the nation's housing output by the end of the decade will total 23 million new dwelling units, six million more units than were produced in the sixties. But the figure will still fall short of the target of 26 million dwelling units set by the 1968 National Housing Act.

"The housing market of the seventies," Christie observed, "is now experiencing a sudden surge of highvolume homebuilding. But volume is apt to slip back temporarily from 1971's strong pace before the next advance.

Distributor of the Yeqr

The National Building Material Distributors Assn. is accepting nominations from active and associate members for its first annual "Building Material Distributor of the Year" award, to be presented at their fall convention in Houston.

The award will honor an executive or employee, presently active, retired, or deceased, of a currently active NBMDA distributor member firm, whose positive contributions to or impact upon the wholesale building material distribution industry warrant the highest possible expression of appreciation of his colleagues or successors within NBMDA.

More Money for Home Buyers

Actions by two federal agencies to stabilize interest rates on mortgage loans and to make more money available for loans to home buyers won praise from Western lumbermen.

"The moves will benefit home buyers, the lumber industry, home builders, and the workers in these large industries," pointed out Wendell B. Barnes, Western Wood Products Association.

"Although the seasonally adjusted rate of housing starts was up last month, private, one-unit construction figures were down to 107,000 starts in July compared to 116,500 in June," he said. "In addition, the number of home building permits also decreased to 175,000 in July from the revised June high of 182,500."

The Federal Home Loan Bank Board, which regulates savings and loan associations, reduced the amount of cash associations must keep in reserve, thus freeing up to $800 million for lending.to home buyers.

The Federal Home Loan Mortgage Corp., which buys mortgages from savings and loan institutions, cut its charge, thereby reducing the cost of a $20,000 mortgage by $600, and at the same time announced that it would make $300 million available to buv FHA and VA mortgages.

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