1947 Model

With Wilson Wyatt gone, the President this week unwrapped his own 1947-model housing program. It was an all-out retreat from controlled economy.

Out the window went veterans' priorities, the $10,000 limit on new houses. In their place came a system of federal permits granted to anyone who would build for year-round use (within certain space limitations) or who would rent for an average of $So per unit. Allocation of raw materials would probably be abandoned after the first quarter of next year; "some increase" in nonhousing construction would be permitted immediately, with more to follow.

This file is automatically generated by a robot program, so reader's discretion is required.