SIGN OF THE TIMES.

Bay of Plenty Times, Volume LX, Issue 10826, 24 March 1932, Page 2

SIGN OF THE TIMES.

PROPERTY, BUT NO MONEY. Several applications for employ, ment under No. 5 scheme have been received by the Citizen’s Unemployment Committee at Wellington .by

persons owning a considerabh amount of property. In one instate a man admitted owning property to the extent of three houses, but through falling rents his outgoings now exceeded his income, ami he was forced to seek work. In another case the applicant admilted an income of about £268, bat his outgoings were in excess of that amount. 1

In yet another case an applicant admitted that he hn,d been the haltowner in a farm sold some little tint ago for £3OOO. Such cases are not being enter, tained by the committee, but that d’oes not mean tha the men concerned are not up against, it, as rents have fallen very seriously and owners o( some classes of property are finding it difficult to make ends meet, is there is no demand on the part ot buyers. With diminished returns the ongoings—rates, insurance, land tax and repairs—remain unaltered,® that the liabilities are not being ad-, justed to meet the situation, as many feel they ought to be.