BUYING OF HOMES.

New Zealand Herald, Volume LXVII, Issue 20622, 22 July 1930, Page 5

BUYING OF HOMES.

PROTECTING PURCHASERS.

MOVEMENT IN SYDNEY. One of the new organisations in Sydney that, will be born of the financial stringency is a Property Owners' Defence Association. It has been talked of for some little time, particularly in connection with inequitable valuations, which sometimes merit and receive a more caustic designation, such as "farcical valuations." The main idea in the latest discussion, says the Sydney correspondent of the Argus, is that-small owners should be specially protected, not merely owners, but more particularly those who are only on the wav to become owners, and who will lose their homes if they are out of work for a few months. Tne people are ready for some comprehensive action. The correspondent says:—"Leading citizens in positions which may be considered unassailable financially have always urged that the one great barrier against the march of communism is house-owning by wage earners. Most people support this view. 'Encouragement should be given to every man to own his own home' may, be regarded as the general view of this community. "It is a correlative argument, therefore, that every man buying a home on deferred payments should be safeguarded so that he may not lose his savings. Tho aim is to have legislation that will accomplish this, one of the precautions being a clause in a proposed new bill providing that payments should be suspended during extended sickness or unemployment. Demands for rates would also have to be taken into account. A comprehensive association covering largo owners as well as small has the best chance of success."