GOLDEN OPPORTUNITY TO OWN YOUR OWN HOME

Chronicle (Levin), 30 October 1946, Page 4

GOLDEN OPPORTUNITY TO OWN YOUR OWN HOME

W. M.

•JORDAN .

Sir,— Listening to .Mr. Ijoliand-' ; policy speech on the housing issue brought home to me what an opportunity was here for people in State houses to get a home oi their own. " - * •' The idea of allov"ing 20 per cercti or one-flfth of all rent paid-in the past to pile up as part of t-he cleposit puts- the early State ronters on eaSy street. Miramar and Hutt bloeks and similar blocks all- nyer New Zealand were ,first rented in 1037-38, so that these people have eight years of past rent on vvhieh one-flfth can be allo^ed eaeh year,: The deposit on a 25s a week house is two years' rent, rl30. * Against; that can be charge'd the ejght years' past allowance, £104. no that these people have to flnd cniy £26, In the 30s a week class the deposit is £150 and the p.i.jf rent allowance is £120. So all chev have to flnd is £30. If they apply for tlie freehold and pay these sma'li amounts, they are sitting cn top of the world. There is nothiug to stop them paying a larger deposir and in fact, drawing out nalional. savings and putting them into this. Then the house Can be pe'id off'm 20 or 25 years. The anm who says he will go on rentiug pays in 40 years about £3200 and aoes not own a stick in the propertv, and his children after him can go on paying the same way to 110 purpose. This National Party propositicn is definitelyothe bank to put money in, and I consider this is ihe greatest contribution to securicy that has ever been offered in ttvis country.

Yours etc.r

Wellington, Qct. 28.