
1 minute read
Stoill
Bf le Siaaaa
Age not guoronteed-Some I hsve told for 20 yeors-Some Less
He Couldn't Help Wondering
In a great, towering skyscraper building in New York City, the elevator to the top travels at a terrific rate of speed.
A gentleman was taking his little son to the top of the building to let him see the sights from above and the elevator was traveling upward at its customary speed. At about the 50th foor, the little boy gripped his father's hand and asked:
"Papa, does God know we're coming?"
FHA Oprimistic About | 960 Housing
The National Association of Real Estate Boards' convention in Toronto was told by Julian H. Zimmerman, commissioner of the Federal Housing Administration, that there is considerable evidence that the demand for housing and the availability of mortgage money will be adequate to support a high level of construction in 1960.
While many feel that a housing start rate of about 1,400,000 a year is necessary to provide adequate housing, Zimmerman feels that a slightly less average will be sufficient, and that the approximate 1,300,000 starts in 1959 will be a near record year and represent a "good, sound base of housing activities."
The FHA is now watching the gradual process of market adjustment to the new maximum interest rates authorized by them in the latter part of 1959, most important of which was the Ssl/o maximum rate established for single-family dwellings.
Though it is not expected that 1960 will reach the higl-r levels of activity of 1959 and 1955, the optimism expressed by Zimmerman is opposed to much of the pessimism that has prevailed on mortgage market speculation in the west.
Bob Lee on NLtnA Committees
Portland, Oregon-Word of appointment of Robert O. Lee, public relations, advertising and sales promotion director of Georgia-Pacific Corporation, to two National Lumber Manufacturers' Association committees has been received here. The association's Washington, D.C., office notes his assignment to the Governmerit Relations committee, representing the West Coast Lumbermen's Association, and the National Wood Promotion committee, repre- senting the Hardwood Plywood Institute. Mr. Lee also holds membership in the California Redwood Association.
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