Perth Amboy evening news., 1923-10-18
Ney Jersey Shows
Increase in Home Owning


New Jersey was one of the eigh-
teen states to show an Increase in the
percentage of families owning their
own homes. according to "How to
Own Your Home" an official hand
booI just issued for prospective
home owners by the Department OF
shows, the number of families own
cent, and this increased to 1873 in
1921, a gain of Al per cent.
New Jerseys home ownership
record was also above that of the
percentage for the Middle Atlantic
group, made up of New York, New
Jersey, and Pennsylvania, the group
average being s72 families out of
1000, the tables. show, but her av-
erage was lower than that for the
entire country, with asa families
listed as home owners out of each
1000 In 1920, as against ass out of
each 1000 for the United States.
Secretary Hoover. in the forword
to the handbook, points out that in
buying or building a home a man
must not only carry out the tram
sactions of financing and buying a
building. but must determine the
location with respect to schools,
work, and the neighborhood. "How
to Own Your Home" which was pre-
pared by John NJ. Cries and James
s. Taylor, of the Division of Build
ing and Housing. accordingly aims
to describe the steps and precau-
lions to be taken in carrying out the
transaction with the least possible
risk and the best assurance of final
satisfaction"
although most men and women
who buy a house have never done
1t before and are usually unskilled.
as people generally are in the things
they do but once or twice in a life
TINS, the prospective home owner
whi carefully considers the real
needs of his family and his ability to
pay and who checks his W judg-
ment by consulting experienced per-
sons, may go ahead with full con-
idence. He need not be frightened
by the mistakes of needless per
sons who have been carried away
by some novel feature and coaxed
into a bad bargain, or who have tried
to buy beyond their means. While
some risks are involved. as is usually
the ease in obtaining anything
worth while, the danger of failure
is relatively small when weighed
against the advantages of an owned
home"
To-day, in the period of postwar
recovery, when our national produc-
tivity is increasing, we have the
opportunity to make definite pro-
gress in the right direction. More
over, the development of the auto
mobile has given a great impulse to
suburban life and an increasing pos
sibility to home ownership. Happily
a large section of the people are
awake to the problems and an in
creasing number of business groups
havi publicly acknowledged their
responsibility and interest In 1t.
They realize that unnecessary bar
riers that may encompass a man de-
termined to own his home are
hindrances to good community spirit
and to good business"
Ii, "How to Own Your Home"
emphasis is laid at the outset on
the Importance of the decision, the
authors likening this step to pur-
chase in a business partnership. "A
family that has saved up enough to
make a first payment and has paid
it's rent regularly when due has
given good evidence of its ability to
paw for and own a home" say the
authors. Homes are usually bought
FROM savings. Habits of saving are
begun in early childhood: but
adults who have not already begun
to save toward buying a home should
start at once. Many find the buying
of ~ home the largest investment
theJ ever make. But lack or e1-
p~erience should deter no one"
The question of how much to pay
for a home is thoroughly discussed
in the Department of Commerce
handbook which says that "The eX-
act mount to be spent on a nome
can he determined wisely only by
carefully checking e the famllys
needs and its expenses The
pamphlet declares that building
and loan associations will, in many
cases, prove the best means OF
financing a home, for they are often
able to loan as much as 70 to so per
cent, of the real value of a home.
| which Is generally above the limit
allowed by law for savings banks
and insurance companies"
In the matter of choosing suitable
| location for a home, How to Own
Your Home" lists as factors to be
considered: Low or high lana
values; transportation facilities: pro-
| lection, including fire and police;
character of neighborhood; necessity