Show Bank Unit Says Low Cost Homes Gone GoneI WASHINGTON June 8 WI- WI WIThe The Home Loan bank a administration tion declared Saturday that Inflation inflation inflation tion since 1 1940 40 has all but eliminated eliminated eliminated low Jow cost homes from the present resent market It made public the thc results of ot a check of ot newspaper advertisements advertisements advertise advertIse- ments of houses for sale in six I metropolitan areas which showed that hat offerings for or less had lad declined as m much ch as 81 31 The six areas the percentage atlow of at low ow cost offerings In 1940 and the percentage in 1916 were given as Detroit 84 and 30 Los Angeles 83 and 2 Kansas City 89 and 46 San Francisco 82 and 9 Seattle 98 and 27 Washington 47 41 and 9 William Villiam H. H Husband general manager of the Federal Savings and Loan Corp commented Granted that costs of ot building have lave advanced and that materials bottlenecks have greatly affected the efficiency of construction nevertheless in the interest of preserving a strong national economy economy economy econ econ- omy it Is not safe to overlook the continued needs of the small home buyer who must be provided a ahome ahome home lome within his means Lengthened periods of repayment repayment repay repay- ment meat do provide a compromise by lowerIng the monthly payment but jut rising prices will inevitably lift the monthly cost above the reach of ot most wage and salary earners only earners only to be followed by a collapse of the valuation structure and the familiar day of ot reckon reckon- ing Under the circumstances he added the expression let the buyer beware is not at all funny tunny I |