Evening star., 1931-12-16
Plans for Home Ownership
Studied by Whole Country

President Hoover's address before the
Conference on Home Building and
Home Ownership revealing his interest
IN proper housing for the average fam
lily in America, has received much IA
Vorable comment. 1t has also aroused
some queries on the points he brought
out
PRESIDENT Hoover is deeply and Vi
tally interested in his homecoming
plan and the scheme for financing
nome building" says the GAINESVILLE Daily
Gazette. in its analysis of the PreSi-
oent attitude. He is more concerned
about matters of that sort than he is
with politics He may founder when it
comes to political question. but when
1t comes to home making, home build
ing or child welfare he Is as certain as
the navigator skilled in reading charts
ana instruments" The Worcester
Evening Gazette finds it pleasing that
the head of the government should
study so sympathetically a subject that
belongs to the fireside." and thinks it
Is something to bring him more init
mately into contact With millions of
people than anything eise he may have
done"
Whether, after thorough considera-
tlon. We agree or disagree with PreSi-
dent Hoover's idea of nome buying on
the installment plan, the suggestion
merits deep thought in the opinion of
the Schenectady Gazette. Noting that
"Mr. Hoover asks that the purchase of
home in the future be made as easy
as buying an automobile. a radio or a
fur coat the Cleveland News remarks:
With his plan in operation, it will
Where formerly high down payments
and high finance charges have made it
impossible for many of moderate means
to buy homes. the President proposes
that good prospects, good intentions,
good jobs be accepted in so far as
possible in lieu of immediate cash, and
that an important industry of the
country be based to a large degree on
the essential honesty of its inhabitants" ="
or these ogres several come up for
consideration. That of the second
mortgage is suggested by the Fort
Worth Star-Telegram, which feels that
If home building is to be Increased
to fun potentialities the problem is one
OF providing a financing system which
will absorb second mortgages as well
as first Another is taxes, and on
this point the Jersey City Journal
comments: If Mr.. Hoover can set up
program to keep taxes down and
correlate 1t with his plan of financing
his idea will work like charm" Sug-
geSting that some such plan is con-
templated, the Springfield (Mass)
Union remarks: THE President said
he intended to propose to Congress
hn cfQh lie ant nf cfnyH, Nf
home-loan discount banks which
would make no initial or direct
mortgages. but would lend money
only on the obligations of the loaning
institutions secured by the mortgage
loans as collaterals' How Congress
will react to this suggested legislation
remains to be seen"
Unanimity Of opinion on the value of
home owning as an aid to the stability
of the country is evident. Says the
South Bend Tribune: "All thoughtful
Americans concede great value to home
ownership, as 1t makes for stability and
security, and President Hoover Is wisely
doing everything possible to coordinate
the forces that must be relied upon for
home building and home ownership"
AS the Duluth Herald views it: stuff
the best population on earth all into
fats and tenements, with no home own
ers at all, and you will wreck the coun-
try that does it. The individual home.
cwned by the family that lives in 1t, is
a corner-s stone of American greatness,
and the fiber of America would not
long endure without it." The Cincin-
natl Times-Star declares: PSYCHOLOGISTS
record and preachers lament the many
economic and social forces now tending
to break up the family. Hoover, indi-
rectly yet with impressive eloquence,
pits against these fo9ces the national