The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1936-02-27
Lack of New Build
ings Is Serious
Can Secure Reasonable Initial Pay
ment and longtime Financ-
ing for New Home

1t Is the wish of every woman to
have home of her own, where she
can do the many things that she
has always dreamed of, but in
most cases it has been impossible
to make these dreams come true,
due to the necessity Of moving
from one place to another on &C
count of changing times and
changing conditions
The big obstacle in the matter of
home-ownership in the past has
been the inability of the average
person to finance the erection of a
ticularly true during the past four
or five years when there has been
very little home building.
The Federal Government has
realized that the lack of new con-
struction has been one of the most
serious handicaps in their efforts
to eliminate the unemployment
problem. They also realized that
with the limited amount of new
construction during the past five
years that 1t would be natural for
a very noticeable shortage of
homes to develop. This shortage of
homes is self-evident today in
every community in the country; in
fact, it is almost impossible to find
desirable living quarters in this
town or in any town in the north
western States, irrespective as to
how much rental a person is willing
to pay.
Under the Federal Housing Act
it is now possible for the average
person to make a reasonable initial
payment and secure longtime fin
ancing for the erection Of a new
home. The new home owner pays
off his Indebtedness on a monthly
payment basis and two particular
good features of the program are
that these monthly payments in
clude the taxes as we'll as the in
surance. In view of the length of
time in which the home owner has
to pay, the average home owner
will find that these monthly pay
ments will not exceed what he
would be compelled to pay out in
rent for a similar property. How
ever, at the end of ten or fifteen
years he actually owns his own pro-
perty at which time, of course, the
monthly payments are discontin-
ued.
A prominent authority, who has
given considerable thought and
study to the housing problem in the
United States, recently made the
statement that every average"
man who has been regularly en-
ployed in the United States and
who can qualify for a loan under
the Federal Housing Act, can own
his own home if he will buy his
home as he would buy an automo-
bile. This authority stated that
very few people purchase the larg-
er expensive cars but that the bulk
Of the American people confine
their purchases to three or four of
the lower priced cars. Homes are
relatively the same as cars. The
average person can build very
satisfactory home in this country at
a cost of from 100000 to 100000
and this authority states that the
average person makes a very SER
ious mistake by selecting the plan
of home which will cost 100000
or 100000, when a home with a
cost of from 100000 to 100000
will give him the same satisfaction
and serve his purpose equally as
well.
Our local lumber companies are
equipped to finance new home
construction under the Federal
Housing Act and will be more than
pleased to consult with prospective
builders of new homes.