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Greymouth Evening Star, 23 April 1946, Page 5

Building Costs in U.S. The Government has officially admitted that real estate . prices throughout the nation have virtually doubled, since 1940, says the Washington correspondent of the New York Sun. Skyrocketing inflation has affected homes, unimproved land, and prepared building allotments alike, states the correspondent. According to a National Housing Agency report highest price rise on the national average was for homes formerly constructed for 6000 dollars or less which on the Pacific Coast increased about 30 per cent. The rapid rise has occurred since V-J Day.—New York, April 21.

•“Not Socialist” Mr Bob Edwards, in his presidential address to the annual conference of the Independent Labour Party, =aid the present British Government could hardly be described as Socialist. Its whole approach was based on reformism and the principles of gradual social change. If, after its full term, the Government fully achieved its objective, only 20 per cent, would have been taken from those who lived on rent, interest, and profit, leaving 80 per cent, still in the hands of private capitalism. He said the end of the war had left Russia as the leading Power in Europe and America as Britain’s trade rival. Britain had to choose between them or move closer to Europe, advocating nationally for and giving leadership towards the Ignited Socialist States of Europe.—London, April 20.