Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-10-19
EXPERT COMPARES
. HOME STANDARDS
Declares English Houses
Lack Fine Interiors De-
manded in U. S.

The hundreds of thousands OF new
homes built in England's current
boom have sturdy walls, exclusively
Of brick. and consistently excellent
roofs and exteriors, but the average
American family would demand finer
interior appointments and finish.
This comparison of standards OF
shelter comes from Morton Bodflsh.
executive vice president of the United
States Building and Loan League,
who returned few days ago from a
tWo-month trip to England and the
continent, in connection with attend
ance at the Salzburg International
Congress of Building Societies. A bull
letin sent out today by Mr.. Bodfish to
the leagues 1900 member associations
reviews the housing situation in the
older countries, finding much that is
praiseWorthy in British procedure and
some encouraging factors in the home
ownership movement on the continent
Cites Mortgage System.
Close scrutiny of mortgage condi-
tions which lie back of the great
British residential construction revival
developed three major reasons why the
thrift and home financing institutions,
known there as building societies, have
been able to make successful loans up
TO such high percentage OF the prop
erty's value. Counterparts of the build
ing societies in this country are the
savings, building and loan associations
which comprise the leagues member
ship.
First, the general stability of Eng
1ish property values paves the way for
basic safety in high percentage loans
there. Mr. Bodfish said. Second, there
is the generally substantial char
acter of the building interests who pro-
tect high percentage loans with pools
of cash or trustee securities until they
have been seasoned, and third, most
significant factor is the general pri-
waite and public policy in England that
persons owing money are to pay their
debts.
"A British society can regain pos
session of property from ten to thirty
days. Most taxes are liens subsequent
to the mortgage and consequently the
the individuals.
The unit size of mortgage is very
small, although some societies take a
few larger properties on conservative
basis. Loans are not made to oper-
ators or speculative builders by and
large but to owner occupants and pur-
chasers. There is vigorous competi-
nInr M
England but his drive for business has
not developed unsound lending prac-
tees"
Great Increase in Assets.
The American leader indicates that
the assets of British building societies
are equivalent to $2,700,000000 today
where they were 1923 100000 in 1925
and comments on the excellent re-
lationships which exist among gov.
eminent, banking, general business
activities. and the societies for home
ownership.
Turning to the continental stu.
alton, especially in Central and East
ern Europe, Mr.. Bodfsh indicates
that the idea of thrift institutions tt
finance proprietorship and improve
housing conditions is but ten years ole
there, having begun in Germany in
1925 and spread from there to Austria
Switzerland. Poland, Bulgaria and
other countries.
1T was the feeling Of the American
delegation which travelled nope and
attended the Salzburg Congress that
the developing activity on the CONT
nent is going to become significant in
an own-your -own-home movement
based upon private enterprise and per-
sonal responsibility" he comments
Much of the housing for the lower in
come groups on the continent has been
paternalistic in character and the
building and loan idea seems to be
appealing widely now to persons in
government and business