OCR Text |
Show Remodeling, Home Repairs Due for Room While new home construction will be down from the 1950 peak, building authorities agree that remodeling re-modeling and repair business will boom in 1951. Severe credit restrictions imposed im-posed under the Government's Regulation X limit the construction construc-tion of new homes, but there is no effective deterrent to the repair and remodeling of existing homes and farm buildings. The Federal Housing Authority continues to pursue a liberal credit policy in insuring loans by banks and other lending institutions to finance repairs and remodeling. The FHA insures loans in amounts up to $2,500, subject only to a down payment of 10 percent and repayment of the balance in 30 months. Government officials obviously recognize the importance of keeping keep-ing homes in good repair, especially espe-cially at a time when new construction con-struction is being restricted. Actually, the owners of older homes who have been wanting to remodel or make needed repairs now will have a better opportunity opportu-nity to h.e the work done. Building Build-ing mechanics have been engaged largely on new construction, and new iiomes have consumed the bulk of the building materials available. Take roofing, for example. Mechanics Me-chanics and materials should be available for long-deferred re-roofing re-roofing and repair jobs. The asphalt as-phalt roofing industry is making every possible effort to meet the unprecedented demand for its products. Shipments of strip shingles shin-gles exceeded 3,000,000,000 squares for the first time last May, and have been in excess of that figure every month since. |