Missile Freeze Rejected the Depth of the Housing Slide Is Clear
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24 - MANCHESTER HERALD. Tues.. March 16. 1982 r - l i t b r ie f -----------------------— Try 'old sod' Job security Quick fix in store for housing? Open house set Claus' silence GLASTONBURY - Citizens ^ * * , * * “^ , * ^ “ added to verdict] soda bread Whaler goal U.S. Markets and Mortgages open house March 27, at its branch office located on •ntsj’ Industry Hebron Avenue. ^ _ ,n » ^ i The open house is scheduled from W ®.m. to 4 ... page 7 ... page 13 ... page 9 p.m. and the public is invited to tour the branch, $ 77, 500"* is pushing Conventionally Financed | ^freshm ents will be served and entertainment for 13 21% the children will be provided. ^ Homes I The Hebron Avenue branch office is scheduled to PORTLAND ' l o w BOSTON open for normal business March 29. for help $91,300 15 0?’' OfNVER lawrpncf' Wr 1 owpii Seminar slated By Jeff Mapes fSAN _ _______ COLUMBUS ^ $/9.000 Fair tonight Manchester, Conn. Herald Washington Bureau FRANCISCO/ . I 17 IS”' • HARTFORD A twoKlay seminar outlining and Thursday Wed., March 17, 1982 ffOakland. San Iosp^ ^ P flC* WASHINGTON - Devastated by its various approaches to condominium investment S in g le c o p y 25tp worst economic slump since World War W $130,600* '^Average Mortgage PHILADELPHIA will be offered by the University of Connecticut on — See page 2 II, the housing industry is pushing X 15 17% ^^ Rate kWilminglpn. Irentonl April 1 and 2 at the Hotel Soneste. Mrralb Congress and the Reagan administration Organizers of “ Condominium Development and toward a "quick fix” aimed at boosting Conversion” say the program will provide infonna- home sales. PHOENIX tion concerning such areas as "potential legal and For people looking to buy their first SALT LAKE CITY t business problems with condominiums and conver home, an emergency housing program sions.” could once again put a monthly mortgage $108.9001 $87,800 l?50"o“ fHOUSTON It also will focus on Ux consequences of develop Reagan calls offer 'ploy' payment within reach. 14.96% r Galveston I ment, kinds of financing available, and successful But there's strong debate over the marketing techniques. terms of government bailout that some The registration fee for the smaller seminar will worry would only worsen the federal * Highest in Survey be $350. For further information, please write to deficit — making it even more difficult :(;5fc Lowest in Survey Management Development, Box U-56D, UCbnn, to bring down the high interest rates that Storrs, CT 06268 or contact Pat Andrews at 488-3234. have gutted the housing industry. Missile freeze rejected The depth of the housing slide is clear. Just over one million new homes were started last year — less than in any year SOURCE "U S Housing Markets (Advance Mortgage Corp ) NEA/Marh GabrpnvT) Officer named WASHINGTON (UPI) - The of Congress, including Sen. John on the Soviet proposal were made in offer for NATO, to forego planned since 1946.. Fxperts fear that starts could Reagan administration rejects Tower, R-Texas, chairman of the a previously scheduled appearance deployment of 572 U.S. Pershing II Housing and mortgage rates are high all over, but filgher in some areas of the country than others. A current drop by another 200,000 this year if the Leonid Brezhnev’s European mis Senate Armed Services Committee, before the Oklahoma Legislature. and Cruise missiles beginning in late survey finds the best housing prices in Denver, the most expensive market in the San Francisco Bay area. The EAST HARTFORD — Daniel C. Bumes, M.D., recession does not ease. sile moratorium, calling It a " I t ’s a phony proposal because it The president prefaced his 1983 if the Soviets dismantle all their prices are right in Boston, but the mortgage rates are the highest in the country. Salt Lake City comes in at the was recently named chief executive officer and "B y every measure, dimensions of this propaganda ploy aimed at protec would mean freezing the United prepared remarks, which extolled missiles targeted on Europe. low end of the mortgage scale. The survey covers only housing purchaces financed through banks or other medical director of the North Central Connecticut overall downturn are massive,” said States and its allies in a position of the virtues of his economic "And that’s fair,” Reagan said. conventional lending institutions. Cities included in larger metropolitan areas are indicated by smaller type.' Health Maintenance Organization. ting a Soviet monopoly and dividing Jack Carlson, chief economist of the Medical director of NCC/HMO since 1977, Burnes the West. critical disadvantage,” said Tower. program, by attacking the “ If President Brezhnev is serious National Association of Realtors. " I ’ve will now oversee both administrative and medical “ A freeze simply isn’t good A State Department official said Brezhnev’s freeze. about real arms control, and I hope been in this business 35 years and it's panics to push for change. noted. uncertain health of the bond market may functions of the plan. NCC/HMO is a prepaid health enough because it doesn’t go far Brezhnev’s “ primary purpose is to He noted the Soviet Union now has he is. he will join in real arms reduc never been this bad,” added Harold The administration has been "painting Not everybody is enthusiastic about hurt the effectiveness of this kind of care system currently serving over 13,000 enough,” said President Reagan, derail” a decision by NA'TO in 31 new SS-20 missiles with 900 tion.” Sugarman of Cahners Publications, with a very broad brush” in an attempt the Lugar proposal. While the senator program. members. whoise own arms reduction offer was December 1979 to deploy 572 warheads that can hit targets in Brezhnev’s announcement the which runs a string of construction to improve the overall economy and has argues that the $1 billion annual cost of Gam said he believes an emergency rejected by the Soviets last fall. Pershing II and Cruise missiles in Western Europe. NATO, he said, 'Soviet Union is freezing deployment magazines. not focused on individual indus'tries, the program will be more than recovered housing program should be couled with Brezhnev announced a unilateral Europe by late 1983 to offset the has “ zero land-based missiles that of medium-range nuclear missiles Unemployment in the construction in added Sen. John Danforth, R-Mo.. But he by lower unemployment and higher tax further cuts In government spending. In freeze on the deployment of Soviets’ mobile SS-20 missiles. can hit targets in the U.S.S.R.” in Europe is a small modification on dustry is running at 18 percent, while told a group of state housing officials revenues, not everybody sees it that Gam’s view, cuts should come from the medium-range nuclear missiles in House Speaker Thomas O'Neill, Brezhnev also failed to mention, an existing position. nearly one of every five lumber workers that if the various housing interests way. entitlement programs — such as the in I _ No Purchase Necessary Europe Tuesday while at the same D-Mass., and Sen. Edward Kennedy, he said, that because the SS-20s are On Nov. 23, Brezhnev offered a un is out of a job. find common ground” on housing legisla Carlson of the National Association of flation increases in Social Security time threatening to retaliate against D-Mass., however, called on the ad mobile missiles, “ it doesn’t matter ilateral reduction of Soviet medium- Savings and loans, the traditional tion, they will become an “ unstoppable Realtors notes that short-term bailouts payments — that have largely escaped U.S. deployment plans in Western ministration to use Brezhnev’s offer where you put them, since you can range missiles if NATO agreed to suppliers of home mortgage-financing, force.” could make investors even more con the Reagan budget axe. Europe. as the basis for a dialogue on arms move them anywhere you want, in forego deployment, sjated to begin lost $6.4 billion last year as government “ If there’s a successful lobby on cerned that the federal deficit will never Democrats, of course, see the situation Reagan’s swift rejection was reduction. cluding back to” bases in Europe. regulators scurried to arrange mergers Capitol Hill,” one government housing be reduced. Carlson said he does not differently. Leaders of the House l*^FREE*^ backed by several ranking members Reagan’s first public comments Reagan reiterated his Nov. 18 Pleiint-.lurn lo piiK*. R of the weaker institutions to avoid expert remarked, it’s the housing in see enactment of a “ big program which Banking Committee are pushing a 10- bankruptcies. “ With the difficulty the dustry, particularly the National has the risk of adding uncertainties” to year, $18 billion plan to restore the savings and ioan$ are in, there is no Association of Home Builders. the financial markets. housing industry. New York’s Charles mortgage money,” sighed Sen. Jake IRISH COIN The home builders have endorsed One Treasury Department official Rangel, chairman of a House Ways and Gam, R-Utah, chairman fo the Senate legislation by Sen. Richard Lugar, R- agrees, noting that his department has Means subcommittee dealing with Banking Committee. Ind., that would cost the government $1 . been cTitical of a variety of proposals Cuban crisis ghost is raised housing, said he would like to scrap The Reagan administration had billion a year to “ buy down” interest characterized by “ big budget expen Reaganomics and bail out several other 'Limit On* P*r P*r*on^7 v yl resisted attempts to give special help to rates by up to 4 percent. For families ditures and big subsidies.” The ad depressed industries as well.