INSTALMENT PLAN

Feilding Star, Volume 8, Issue 2400, 9 April 1931, Page 5

INSTALMENT PLAN

OPERATION IN AMERICA HOME PURCHASERS HARD HIT An army of instalment plan supporters in America has been tremendously hit by the slump in business and the consequent unemployment. Homes are bought, at so much a month, the radio ,is. purchased on the same plan, the family motor car, tile furniture for tile home. There, are instances of speculative builders having as. mom- as 50 to 100 houses coming hack oil their hands. Stories are circulated that business houses aiv behind with the rent for several months, the owners hoping against hope that tones would have improved ere this, and the tenants would have been able to pay up arrears. In many eases fore closure ou. property is only resorted to when there is no other alternative, usually tho banks, who aid the speculative builder. ordering thik procedure as a protective measure.