Archive Report
Archive Report
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 ...