Omaha daily bee., 1906-05-06
GROWTH IN HOME OWNERSHIP
What Mutual Associations Are Doing in
Promoting Ownership Of Homes.
THRIFT THE BASIS OF A COMPETENCE
Present Opportunities for Home Get
ting I'm Omaha ana South
Omaha--FOIIy of watt
dng for Tomorrow.

prosperity More gratifying stu is the
fact that two-thirds of the number are
for home owners. While home building by
home owners in eastern cities fails to keep
pace with the growth in population, owing
to the cost OF ground, here the conditions
invite the family man to buy or build.
The eastern tendency toward apartments
and fats is not gaining in favor in the
west. nor is it likely to become a popular
mode of living while home sites are album
dant and moderate in price. II like the
west. admire the western people," ex-
claimed an eastern clergyman in an ad-
dress in Omaha. You are fortunate and
better situated than in the crowded east"
he continued. because you have an sbun-
dance of elbow room for the individual
and room for homes within reach Of all
frugal people. There ars no home asso-
Citations worthy OF the name which are not
connected with home and piece Of open
ground In the sole possession Of the fam
iy."
Among the strong factors in promoting
home ownership among people of moderate
means, the building and loan associations
occupy a leading place self-help and mu-
tuallty OF interest unite In making them
a power for the ends they seek. Thrift
is the essence Of their being. and the union
of resources OF thrifty people not only
BENEFITS those directly concerned. but their
example attracts others, thus constantly
widening their influence for good.
F1fty-nine associations in Nebraska have
total membership Of $1,000, Of whom
neatly ope-third are paying for homes.
Scarcely 10 per cent Of association loans
goes to other than home investments. Last
year these associations made 1,i48 new
building loans and 1,4ss loans were on
homes already built. The aggregate OF
their business for the fiscal year was, In
round numbers, S. ,0Oo and their total as
sets passed the 100000 mark.
-Four associations in Omaha and one in
South Omaha represent nearly one-half the
total business and resources Of the asso-
Citations in tho state. 1t is estimated that
they furnished the money for at least 800
new buildings in the twin cities last year
and a much larger number OF homestead
loans.
Facilities for Home Getting.
The policy of these associations is to
provide every facility for the purchase or
erection OF homes and payment therefor
in monthly installments of principal and
interest. The interest charged is a shade
under per cent, ana this rate is further
reduced by periodical distribution of earn
ever, Il becoming home owner for little
more than the money paid a. rent for a
given number OF years. The Omaha Home
Building News explains this feature OF the
business as follows:
tenant paying SIS a month rent pays
q sum equal to the monthly installment
Of principal and interest on a loan Of g, $50
Twenty dollars 3 month Will pay for a
loan Of 100, and wipe out the debt in
eleven years. Fifteen dollars month will
interest, and pay il OF in the same time re.'''
Let us compare the accounts Of the rent
payer and the home buyer and see how
they look in plain figures;
Paid landlord $50 a month, one years. go
Paid landlord in eleven years........... 2,640
Tenants equity in property rented,
The home buyer pays on aiOan of
81, 700-Per month .....................$ 1875
Paid In eleven years. ..,............. 1850 g
Home buyers net profit. ............ 1,760.0C
For $50 less than the tenant will pay in
H,70O homestead free of debt. The renter
works for the landlord; the home buyer
Answering the objections OF people e
the installment plan OF purchase the same
authority says: Many people object &c
the installment plan because they think
the house will cost more than II bought
for cash down. go" says the renter
with an assumption of superior wisdom
I'm wait until I have saved enough
money, and then I'll buy as good a house
for $500. say. as can get for $500 on
the installment planr' Very pretty. Mr.
Astuteness But the wreck of ten thou.
sand plans like your-for saving up money
with which to buy a house for "cast
down." while at the same time paying
rent-bears witness to the general i'm.
practicablllty OF the plan. And then diff
ference in the price of house bought fSl
cash and OF one bought on the installmeni
plan is not anywhere near 80 great a.
you imagine.
Present Opportunities.
Regarding the opportunities and the ad
vantages OF home getting now the author
ity quoted makes this convincing argu
ment: The steady advance Of Omaha ant
South Omaha IN population and materia
development are index fingers pointing tn
way for prudent men to secure a slice o
ground and Herewith keep up with tn
procession General investment is tendinl
more toward real estate presenting tn
best opportunity 20 get safe productive
property, with a good chance 70 share Il
the increment that attends the rapl'
growth Of the country. Small savings, q
well as masses Of capital. judiciously pu
into real estate, rest on secure and gen
orally expansive basis, Every family 4
better on for owning a home. Such pos
session Is protective. promotes comfor
and encourages stability. It is a safe
guard OF lawabiding. conservative citizen
ship Where rents are high there is an ex
cellent way out, for every thrifty famil,
can manage to become its own landlor'
and take an active part In improving 1t
surroundings.
wait until tomorrow Tomorrow comes
but when It arrives It is not tomorrow
IL Is today. IT'S easy, this way OF doin
things tomorrow. sure enough" says
philosopher, but there certainly is on
drawback to tilt doesn't roll up niue
surplus. AS a matter. of fact, suppos
the only work we ever get paid for is tn
work we do today
THE things we are going to do tomor
row produce no revenue. Doing things 1
this way Is easy, but It yields no grea
returns, az / know from long experienc,
other men that know. who have collare
things as they came along. who have nc
put things on tin tomorrow. but have &C
quired the habit OF doing things toda,