MORTGAGES ON HOMES
MR. ROOSEVELT'S PANACEA
[from our own correspondent]
VANCOUVER. Sept. 26 J here was a time when a mortgage on the homo was a thing to be got rid of at the soonest possible moment. Nowadays, according to the Minister of Trade and Customs, a person who had assets that were not mortgaged was regarded as a simpleton. A statement, emanating from an official source in Washington, indicates that more than half the homes in the United States are mortgaged. President Roosevelt has his Home Owners' Loan Association to help clear off the burden Here, in Canada, Mr. Bennett has passed legislation, providing for a compromise or readjustment of the mortgage debts of the farmers. If Mr. Roosevelt's scheme is a success, it may be emulated in the Dominion, although it would be the first of his many panaceas for depression to be adopted by his northern neighbours.
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Bibliographic details
New Zealand Herald, Volume LXXI, Issue 21396, 20 October 1934, Page 8 (Supplement)
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150MORTGAGES ON HOMES New Zealand Herald, Volume LXXI, Issue 21396, 20 October 1934, Page 8 (Supplement)
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