EDITORIAT

Housing as a sacrificial lamb

THE current concept of the "ReindustrialiI zation of America," so warmly embraced by both political parties, seems at first blush an idea to be embraced without hesitation. Obviously, America's technically obsolete indusfial capacity must be modernized.

Yet contained within that idea is the potential to begin a string of disastrous years for housing and for everyone connected with housing.

Too many advocates of reindustrialization believe the money necessary to retool our nation's industries must come from the housing sector. We don't agree. It isn't a one or the other situation. We need both and the investment pie can be made large enough for both housing and reindustrialization.

One facet of the problem is that a new superagency recently created in Washington, D.C. to regulate saving rate controls has already taken steps that will pinch off the flow of money into savings and loans, which inevitably will dry up the primary source of funds for home building. Called the Depository Institutions Deregulation

Committee, it is a six-man committee of unelected officials, and includes Paul A. Volker of the Federal Reserve and G. William Miller, Secretary of the Treasury, among others.

The home builders and s&ls are, understandably, hopping mad. The National Association of Home Builders, the United States League of Savings Associations and the National Aisociation of Realtors have gone to court to try and prevent the regulators from channeling funds away from the housing sector. Edwin B. Brooks, Jr., president of the United States League of Saving Associations, charges that the regulators "virtually dismantled the heart of the savings rate control system . . just 60 days after Congress voted to extend rate controls for six years." The results of the regulators "precipitous action effectively guarantee a housing market with continuing double digit mortgage rates."

Obviouslv. these resulations must be reversed so that funds are-available at an affordable price to meet the nation's housing needs. It is simply unacceptable that, once again, housing be made the sacrificial lamb for other government priorities.

It's just good common sense to control your inventory and investment. Our excellent mill sources and trucking capabilities permit us to put together mixed truck and trailer loads of both species. Clears, commons, lath, benderboard, fence boards, posts and rails. You name it and we will do our best to meet your specifications.