| Show HOME H ME BUYERS TO MEET NEW PROBLEMS IN 1957 If IE 1957 is your year to buy a house you will face problems problems problems lems that have not bothered those who have bought homes in previous years according to the editors of Changing Times The Kiplinger Magazine The key problem is financing Houses are built and bought borrowed money and there is a serious shortage shortage short short- age ace of of m money Rey to borrow Result You may have trouble getting a loan And even if you do qualify for a n loan you are likely to pay a stiff interest rate Nowadays 5 per cent centis centis centis is a low figure and rates of to 6 per cent are not un un- common Nor will house prices drop in 1957 On the contrary contrary con con- nary the editors say all the forces at work are pushing prices upward The bright side You'll have a wide choice of homes both bah new and old You can get financing If your deal is sensible and safe Finally older houses built when costs were lower may be excellent buys So dont don't limit your thinking to new houses with so many good deals around in established hed neighborhoods And those who set out to purchase a new car in 1957 may find that they will be for forced to wind up with a smaller smaller smal- smal ler lower priced lower priced car than they had intended to buy The reasons Interest rates are higher for car financing down payments will be stiffer stiffen borrowers borrow rs may have to repay repay repay re re- re- re pay loans faster in bigger installments and finally lenders are choosier about how much they will lend and to whom And car prices are the highest in history with price increases as much as 80 to over last years year's levels in inthe inthe inthe the low Jow priced cars This combination of high prices and tough touch financing will force many buyers Into the lower priced standard models |
