STATE LOANS AND BUILDING

Sun (Auckland), Volume 1, Issue 52, 24 May 1927, Page 8

STATE LOANS AND BUILDING

DEPRESSION in the building trade is said by buildex-s to be due to delays in granting State advances for homes and Mr. Coates lias promised to see the Minister of Finance, with a view to obtaining a statement as to the actual position. It is to be hoped there will be no delay in the publication of this statement, for thousands of people are under the worry of uncertainty. If it is true that the State Advances Department is twelve months in arrears in dealing with applications, it is not a satisfying condition of affairs, whatever the i-eason. That people want houses is very evident. Notwithstanding the increase in the rate of interest, applications for loans continued to pour in. If the Government cannot find the money for building to the extent required, let the Minister be frank and say so. There is no doubt that many people would have looked to private sources for finance if they had not been hoping for the State assistance so readily promised them at election time. These people want to know where they stand, so that, if necessary, they can look elsewhere for money to build. At the present time the building trade is lamentably slack, many carpenters are out of work, and a number of skilled workers are leaving the country, to its uudoubted disadvantage.