lUUilDtIilfi.N ITilIil

since 1914

Main Office

564 Market St. San Francisco 4

Otber Ofices prices up and the Gross National product should be uo slightly ^refl.ecting- mostly price change. The launching Dy th.e Sovrets of an earth-girdling satellite ,,moon,', or :pgjljk,_together. with the continued explosiveness oi the 1\4.rddle lr.astern situation, has created considerable specula_ tion as to whether the future level of Government spendine can-or should-be held down. Meanwhile, the populatioi continues .to grow, retail trade is holding up'well, and consumer income remains high, continued ihe Association.

2185 Huntington Drive SAN MARINO 9, CALIF.

Briefs From Ffousine Notebook ONE HOME OUT OF EVE:RY 12 STARTED IN 1956 WAS STARTED IN LOS ANGELES . Four q{e.as-Los Angeles, New York/Northeastern New lersev. Uhicago and Detroit-accounted for 250,000 of tni tg5O starts ._FHA figures for the first nine months of lgSZ retlect a sharp upturn of interest in rental housing

Unrts covered in applications for all rental housing pr--ogram for the 1957 peri,oh numbered 56,330, almost the 14,9)l recorded for the same period in 1956 . . . The greatest increases occurred in Section 207, militarv and Section 213 applic?tions . Section Zfr applications dipped slightly . The Joint Senate-House Econbmic Commitiee is planning public hearings in 1958 on ,,price relationships. costs and _price. policies" Another- evidence of tight money and its impact on the Government is the deciJion that the Federal National Mortgage Association must move $750 million of Managemeniaid Liquidation Notes held by th.e Treasury into-private hands'. This will tend to.relieye pressure on the Treasury which is nearing the public debt ceiling . but, at this tiine, it will also adE to the pressures on -the demand side of the investment market.

Pittock Block PORTLAND 5, ORE.

Claremont.-61 singl_e-family homes ivill be developed in 30 acres north of Baseline roid between Mountai., "ierrue and Indian Hill boulevard.