Changing Housing Climate

April 10, 1963

Report Outline
Hesitation in the Market for Housing
Extent of Current Foreclosure Problem
Patterns of Demand in Housing Market
Special Focus

Hesitation in the Market for Housing

Senate Hearing on Rise in Foreclosures

The Market for residential housing appears to be entering a new and potentially hazardous phase after nearly two decades of record prosperity. The supply of one-family houses and also of multi-unit structures seems for the time being to have caught up with demand in many metropolitan areas. With inflation no longer assuring home owners of an almost automatic profit if they sell, the “trading up” process has been impeded. More and more of the 33 million families who own their own homes feel locked into their present living arrangements. At the same time, already high land prices and construction costs have put the single-family house beyond the means of many families who would like to become home owners.

Foreclosure rates—the fever chart of the home building industry—are at the highest level since 1939 and probably will continue to rise through the 1960s. The Senate Banking and Currency Committee's Housing subcommittee plans to open hearings late this month on the rise in foreclosures of mortgages on houses and apartment buildings insured by the Federal Housing Administration.

Questions on the future direction of housing construction have been raised by an apartment house invasion of the suburbs. “A churned-up market” is the term House & Home has used to characterize housing in 1963. The industry publication notes that “Alertness and imagination [on the part of builders and developers] may win, but boldness has more than the normal chance of coming a cropper.”

ISSUE TRACKER for Related Reports
Housing
Nov. 06, 2015  Housing Discrimination
Feb. 20, 2015  Gentrification
Apr. 05, 2013  Homeless Students
Dec. 14, 2012  Future of Homeownership
Dec. 18, 2009  Housing the Homeless
Nov. 02, 2007  Mortgage Crisis Updated
Feb. 09, 2001  Affordable Housing
Jan. 06, 1989  Affordable Housing: Is There Enough?
Oct. 30, 1981  Creative Home Financing
Nov. 07, 1980  Housing the Poor
Dec. 21, 1979  Rental Housing Shortage
Nov. 24, 1978  Housing Restoration and Displacement
Apr. 22, 1977  Housing Outlook
Sep. 26, 1973  Housing Credit Crunch
Aug. 06, 1969  Communal Living
Jul. 09, 1969  Private Housing Squeeze
Mar. 04, 1966  Housing for the Poor
Apr. 10, 1963  Changing Housing Climate
Sep. 26, 1956  Prefabricated Housing
Sep. 02, 1949  Cooperative Housing
May 14, 1947  Liquidation of Rent Controls
Dec. 17, 1946  National Housing Emergency, 1946-1947
Mar. 05, 1946  New Types of Housing
Oct. 08, 1941  Rent Control
Aug. 02, 1938  The Future of Home Ownership
Sep. 05, 1934  Building Costs and Home Renovation
Nov. 20, 1933  Federal Home Loans and Housing
Nov. 17, 1931  Housing and Home Ownership
BROWSE RELATED TOPICS:
Mortgage Loans and Home Finance
Regional Planning and Urbanization