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Show Utah Chronicles Record Building Program Most Utah savings and loan leaders believe that the record home building pacw during the first half of the year in the state will continue through the second half, Clarence H. Tingey said on Wednesday. Mr. Tingey Is president presi-dent of the Utah Savings and Loan League, which this week completed a survey among the league members on Utah's building build-ing outlook. The survey was conducted con-ducted under the direction of Louis S. DiEnes, chairman of the league's public information committee. com-mittee. Participating In the survey was Charles T. Cooley of the Cedar City Savings and Loan Association, Associa-tion, league member. The survey shows that 57.1 per cent on the respondents expect the first half's building pace to continue; 7.1 expect it to be even greater; and 35.7 think there will be fewer housing starts than in 1959's first six months. During the first half year there were 4,252 new dwelling units authorized in Utah, for a total valuation of $19.7 million. Both figures represent an all-time high for any six months period. Savings and loan leaders see an ever brighter home building picture In the state during the first half of 1960. Of those surveyed, sur-veyed, 42.8 expect 1960's first half will see more home building In the state than this year's record. rec-ord. Another 35.7 expect the same as 1959's first half. Only 21.4 expect the number to be fewer. Most savings and loan leaders think that building costs In Utah during 1959's second half will ben 2 4 higher than a year ago. None felt costs would be lower. Savings and loan executives believe that the size of home3 to be built in the future in Utah will be the same as now or larger. lar-ger. Most of them see an increase in the proportion of multiple-unit housing. Most think the proportion propor-tion of subdivision built homes will remain about the same. "All in all, Utah's building outlook out-look for the foreseeable future appears extremely bright," Mr. Tingey said. "Populations are moving westward, and here In Utah we have Just begun to tap our treasure chest of natural resources. re-sources. A recent report shows that during the first five months of this year, 25.6 of the dollars spent In the United States for res idential construction, was spent in the 11 western states. This means that here in the west we are building more than twice our share, based on population." Savings and loan associations will continue to provide an Increasing In-creasing proportion of the funds for the builiiing nd purchase of hnmpi hnth In thm "IltiOT! "Zf.tT- ally and here In Utah," the savings sav-ings and loan leader said. "These Institutions now are providing approximately 40 of all the money supplied for home purchase. |
