The Coolidge examiner., 1945-11-30

on the quick sales which were be-
ing transacted were:
Shouldn't see the house before
| sign the contract"
IF you think II over over night
someone else is apt TO put a de-
posit on the house"
mo. madam. we haven't heard
of thing for rent since last May a"
1T certainly is a bad time TO
buy. but prices are apt TO go up an
other 20 per cent by next year"
Well. you can't expect TO get
much house for 50 900 these days. ="
"Oh. that house. Yes. II was
$4,000 last week but now It's
eleven"
PRICES frantic
found. by going around TO look
at houras with a real estate sales
MAJ. that the old sales methods
have completely changed. Instead
Of rushing you past the cracked
ceilings in the bedroom to divert
your interest TO the modern tile In
the bathroom. they now point out
the faults OF a house as well as its
merits. They apparently figure
that they are going TO have no
trouble selling the house anyway.
so they might as well be frank.
The real estate people are in the
drivers seat. But the poor back
seat drivers-the millions OF fam
lies who are taken from one place
10 another in a frantic search to
find place To call home-are In a
position where they can't win. II
they find what they want the price
is undoubtedly out of line II they
insist on sticking to the price they
can pay. they must resign them
selves 10 buying home which isn't
at all what they desire And worst
OF all are the people who don't
want TO buy. who can't afford to
buy. but are forced TO do so be-
cause they can't find any place to
rent.
So far as real estate is CON
cerned. the much-heralded initiation
has arrived. People who have
money are offering higher and
higher prices 10 get what they
want. and those who haven't money
but need a roof. are forced TO bid
more than they ever dreamed they
could in order to get any kind OF
a home.
LOANS government
There are two possible answers
10 the situation.
One is for the government TO
continue its control over rents. TO
enact similar controls over the re-
sale price OF homes and farms. to
control prices OF building mate
rials. and to launch a building pro-
gram by granting big mortgages
TO anyone who wants TO build.
The other possible answer is for
the banks. the insurance companies
and the finance institutions 10 loos-
en- up with the billions OF dollars
they have 10 invest and show real
faith In the future OF America by
being more liberal with their loans
TO individuals.
AS IL is now, the financial insti-
.tutions are not taking any chances.
They have plenty of money they
are glad 10 invest in real estate.
but they refuse TO take any chances
with inflated prices. Thus a home
which cost $4,000 in 1941, and was
considered a good risk for a s6, 900
mortgage. may sell for $1,000 to-
day but the mortgage offer re-
mains at $4,000.
We can't blame the banks too
much for exercising caution when
they are investing other peoples
money. but we must also realize
that all government programs are
also based on the use of the peo-
pies money. Ten years from now.
unless the financial institutions do
liberalize their policies. we are apt
TO find that we have reached the
stage of socialism where the great
majority OF small homes are
owned. at least in part. by the gov
eminent.
The financiers must loosen the
strings on their money-bags If they
want to prevent socialism from
taking over.