HOUSING PROBLEM.

Taihape Daily Times, Volume XII, Issue 3575, 10 September 1920, Page 7

HOUSING PROBLEM.

RAISING THE MONEY. A great scheme is now on foot in. England for raising money .fo build houses. In every pant of the country land has been obtained, plans 'p re * pared, and contracts signed, but work is at a standstill for -want of funds. To meet this difficulty, housing bonds are to be issued, which will bear interest at the rate of 6 per cent. They are absolutely secured by the credit of the local authorities, and they are repayable at par within a few years. As an investment, the bonds are good, but they must not bo regarded as solely a business proposition; they should be bought to meet a' national

emergency as great as any that arose during the war. A most important and not very well known fact in connection with the pre- < sent housing schemes is that the freehold of a new house can be bought out right at a cost representing only two-thirds of the actual cost to the | authorities. The widest facilities are to be given to purchasers who uish to , realise on their investments, or who move from one part of the- country to 1 another. Details of the scheme were given at a conference of the councils of rural districts having an assessable 1 vahue of over £200,000, when it was | stated that 20 councils, out of about | 35 with an assessable value exceeding £200,000, would require to raise about £25,000,000 for housing purposes. The following resolution was adopted: “That this conference represents to the Government that, owing to the , increase in the value of money and j ra cs of interest now offering, and the j competition of Government securities, it is impracticable for rural district councils to raise the moneys required for housing purposes at the present time. ” Another resolution pledged he councils to endeavour to raiso all the money locality, but urged that the Government should advance from the Local I.nans Fund a reasonable percentage of the total moneys required.. Tt was decided to -ask the Prime Minister and '.he Minister of Health to receive a deputation; ito enable the councils to call attention to the cii , ical position in which housingschemes stand owing to want of money. ...I -T»yr: