Housing loans problem
PA Tauranga People are finding it almost impossible to buy houses through the Housing Corporation, said its chairman and director-general, Mr Ron Kelly, yesterday. Speaking in Tauranga during a three-day tour of Bay of Plenty, Mr Kelly said the corporation was able to provide only 40 per cent of the cost of an average New Zealand house.
Tliis meant its customers had to find another $25,000 to $30,000 or a second mortgage at up to 21 per cent interest. Because of their modest incomes they found it almost impossible to cope, Mr Kelly said.
For this reason, the corporation was studying new ways of using its money to the best advantage.
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Press, 3 November 1984, Page 3
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114Housing loans problem Press, 3 November 1984, Page 3
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