Magazine content is available exclusively for TIME subscribers.Housing: Recognizing Market Realities
No major industry has been hit harder than housing by Washington's fight against inflation. By tightening credit, the Federal Reserve Board has sharply cut the supply of mortgage money; over the past twelve months, starts of new homes and apartments have dropped by 25%. Last week the Administration reluctantly raised the interest-rate ceiling on Government-backed home mortgages in an effort to draw more funds into homebuilding. The rate went up from 7½% to a record 8½%, effective this week, for Federal Housing Administration and Veterans Administration home loans. Because FHA borrowers must also pay a ½% insurance fee, the actual...
Email, Password or Region is incorrect
A required form parameter was missing.
The System is currently down. Please try again in a few minutes.
Email Address is invalid
Password is blank
Most Popular »
- JC Penney and Ellen, Lowe's and All-American Muslim: A Tale of Two Bigotries
- Four Ways the U.S. Could End Up at War with Iran Before the Election*
- The Art of Nazi Hunting: How Israel's Mossad Found Adolf Eichmann
- Study: Zapping the Brain Boosts Memory
- College Endowments: Why Even Harvard Isn't As Rich As You Think
- Bradying: The Poor Man's Tebowing
- Pentagon Rules 'Shift' on Women in Combat
- Twimmolation Alert: Roland Martin Gets His Ascot in Hot Water at CNN
- House Pulls the Plug. Too Soon or Too Late?
- Why We Need a New Definition of 'PC'
- The Upside Of Being An Introvert (And Why Extroverts Are Overrated)
- The Brain: How The Brain Rewires Itself
- Egypt's NGO Crisis: How Will U.S. Aid Play in the Controversy?
- Friends With Benefits
- Why Is Your Boss Moving to Brazil?
- New York City: 10 Things to Do
- Seoul Searching
- Pentagon Rules 'Shift' on Women in Combat
- Haiti Papers Over the Past: The Rebranding of 'Baby Doc' Duvalier
- In Singapore, Finding Peace Among the Pain of Thaipusam
More News from Our Partners
Top Stories on TIME.com
Quotes of the Day »
