Evening star. [volume] (Washington, D.C.) 1854-1972, 1942-12-19
Postwar Boom
Seen For Private
Financed Homes
FLA Survey DiscIoses
Ample Reserve Of Fund
For Peocetime BuiIdin

- - -
The Federal Housing Administra-
ton today predicted a sharp re-
vival Of privately financed home
building In the postwar era. This
Is based on a survey just completed
among bankers providing finances
in the home mortage field.
FILA Commissioner Abner H.
Ferguson, meanwhile, announced
arrangements for 100000 new dwell
ing units financed through the FILA
were concluded during the first six
months OF operation under war
housing amendments to the National
Housing Act of last June.
These war housing units, which
are now under construction by
private builders or scheduled for
starting under FILA inspection, are
being financed by mortage loans OF
approximately $409, 900 900 advanced
or to be advanced by private lend
ing institutions with the protection
of FILA war housing insurance Is
sued under Title vi Of the Act, Mr..
Ferguson said.
Mortgage Insurance Boosted.
The 1912 amendments to the Act
increased the FHA'S war housing
mortgage insurance authorization
under Title vi by $500 900 900, broad
ened the terms of Title vi to cover
all general types Of privately
financed war housing OF permanent
type, and effected other changes
designed to assist private construc-
ton of essential war housing units.
During the six months that OPP
erations have been conducted under
the new amendments, FILA field OF
fees have issued commitments to
insure Title vi mortgages OF 1892
761. 2l0 on 88767 one-to-four family
structures, which will contain more
than 5000 dwelling units.
In this same period. FILA COM
mitments were issued to insure
mortgages totaling s16,25l 900 which
will finance construction OF 81
large scale rental projects contain
Ing 4,12e dwelling units for war
workers. These commitments were
issued under Section sos. which was
added to Title vi as part OF the
1912 amendments.
While the existence OF numerous
problems in the home financing neld
is conceded, most Of the statements
contributed to the survey indicate
a belief that large volume OF hous-
ing construction will be one OF the
principal means Of bridging the
transition between a wartime and
q peace-time economy so as TO
maintain maximum employment ana
industrial activity. and to advance
the national standard OF living after
the war is won.
Developments Emphasized.
A review of the statements dis
closes ephasis upon new technolo-
gical developments IN materials ana
methods of construction. as we'll as
upon the stimulus to postwar home
buying likely to result from the
large volume of wartime savings.
The rehabilitation of blighted
neiehborhoods is cited in number
of instances as one of the outstand-
ing problems of the postwar nous
ing era. Other problems foreseen
in some cases include the possibility
of defiationary postwar influences
in areas having large volume OF
war housing or resulting from rising
construction costs and values dur
ing the wartime period.
In numerous instances, stress Is
placed upon the assistance anticl-
pated from the FILA insured mort
gage system in stimulating post
war new home financing.
THE possibilities of the develop
ment of housing after the war are SO
enormous they stagger the imagin-
alton" said william w, Slocum.
president Of the United Savings
Bank OF Detroit.
New materials developed, stream
lined methods Of producing building
materials, and factory methods OF
housing building, all will be factors
in the postwar era" Mr.. Slocum
declared. THE small home will BEN
eft immeasurably by the changes
now taking place. The current re-
strictions on building, record en-
ployment at high wages, the rapid
retirement of private debt during
the war, and the large savings which
are being accumulated IN War bonds,
all add up to provide an Immense
potential market for new postwar
houses"
Ample Funds Available.
Among the many favorable post
war factors foreseen by Philip A.
Benson. president OF the Dime Saw
1see POSTWAR BOOM, Pg. Bad