Signs point to Continuqtion of Present Housing Trends, Sqys !4q

With three-quarters of. 1957 now history, the time is,ripe to look both backward at past happenings and forrvard lor u pi"ti*;"."ry read.ing of ivents ir:hich ,may influence the course ol home oulrdTng during the next 12 to 15 months' says the National Asso=ciation of Home Builders' Septenrber starts -brougllt to 793,4tO0.the total "f *1 Plt: vate Lnd public buildinglor- the first nine months'.ltlJ^t: vate and puDllc Dullolng ror. Llrc rrrsL rrrr. .L.1.1",it including eapeh-rrts-account. for 756'1@ of ifrl.'Lt"i. - Oi tfti. tr-u-bet, 70/o of the units rvere started ;;i1h ;.;;.nti,onal financing; 16/o were FHA-insured, and lvith conventlonal hnanclng; loTo wel l4/o financed under the GI Program.

On seasonally adjusted annual basis, September ?t1{t: checked out at 9S0.000, giving further support to tlte beltet that the 1957 total probably will be sllShtly under one million. In actual number there were 8E'0OU >eptemt€r pii"ut" starts, including 16'500 under^FHA' The FHA 5;;its;.p;.sentecl a 9/o' increase over September 1!!6r^tit-e first year-to-year gain in this -category since m1d-Iy55' Conventional- startsl accounting for trvo-thirds of the total, ieir' 16/" above a year ago. VA statts accounted for the remaincl6t and rvere less "than one-half of the September fg5O te"et. There also r'vere 2,00o public starts during the month.

Little Di,fference Seen In 1957 And 19'58 Starts

Indications presently are that 195^8- starts rviI barring the unexpectei, approximate the 1957 level' This is a .orrt.ttt.t. both of ihe members of the NAHB Builders Ecorromic Council and informed observers' Council memGrs r"ho reported their viervs in an autttmn sur'ev-also oi.al.t.a thit the 1958 market for nerv homes "u'ill be itt" .u-" or better" than this year. The reporting builde-rs .*pt.s.ed the vie',v that therC r'vill be no increase in the -"'diutt-o. typical-sales price of a nerv home, and that mortgage .."dit and consfrttction costs rr'ill continue as

Aid to Smcrll Town Decllers

Federal Housing Administration officials from Washington ga,t. iititit-tg le1lil lumbcr dealers firsthand inf"ormaiiotl or-t ttre ilHp,{'s new pros=ralrl rvhich is expected to ease the fltlrv of FHA mortgage money itr toitttt under 15,000 population. Deputy FHA Commissioner C. B. Sweet and FHA l)irector of I'rograms Graham Northup outlined the purposes and the operation of the nerv^program at a luncheon session of the Exposition. The-Ceitified Agency^P^rogram, nglv u11deryoing a year's test pelod in 900. communtttes tn sevEn se"iect.d a.."t of tfre U.S., is designed to simplify il-r. p.o....ing of mortgage commitments and bring the iclvantagds of lou'ei down paymen^ts and long-er terms to mai-ry srnall communities' Mr. Sweet told the iumber dealeis, "The success of the program can only be obtait-te.l through the cooperation of lenders, building rnaterial dealJrs, reaitois and contractors in the local community."

Mr. Northup explained the operation of the program, pointing out^that local lending in-stitutior-rs I'vill B" appoit-tted" as authorized agents of the Federal Housing Commissioner.

major problem areas. There no\\r ai)pears little likclil-rood rhat mortgage credrt n-ill ease appreciably before mid-l958' Although the volume otttlook for the ttear futttre ts lor stability, "no comfort shoulcl be taken from it since it may ,raff Ud'accompanied lry an incre:rsi'g resort t,r ttrtsound financinq pt".ii.... rehecting the prolrlcms t'i finding -,r.tgag"e funds in our "tighf money" eco11o111)', said the NAHB.

For the economy in general, pro<luction is olt slightly,