MONEY FOR HOUSING
ENCOURAGING OWNERSHIP. Strong support for State housing, with the provision of freehold and rental dwellings, was expressed by Mr C. M. Bowden, M.P., in his address in the Municipal Hall last night. "But," he added, "I would see 'that private housing was given equal opportunity." Mr Bowden laid strong emphasis on the need to encourage .the ownership of homes and to this end he advocated cheaper money. He said that the arrangement between the Reserve Bank and the State Advances Department in 1938 was tor an advance of £5,000,000 at Is per cent., any further advance being at 4 per cent. Those rates had since been varied several times and in 1941 were 1 per cent, and 1-J- per cent., respectively, but the private borrower still had to pay 4J per cent, to the State Advances Department.
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Bibliographic details
Manawatu Standard, Volume LXV, Issue 224, 21 August 1945, Page 4
Word Count
140MONEY FOR HOUSING Manawatu Standard, Volume LXV, Issue 224, 21 August 1945, Page 4
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