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\ J-) . i / i The Chronicle Strives To Be A Clean News paper, Complete, Newsy and Reliable ®he (Clinton .. ( 1 . + If You Don’t Read The Chronicle You Don’t Get the News Volume LIV Clinton, S. C, Thursday, May 21, 1953 Number 21 BABSON DISCUSSES THE HOUSING PROBLEM AND RENTAL TRENDS By ROGER W. BABSON New York City, May 21.—Many of my readers fear that if rents are decontrolled in certain areas where they are still under control, rent prices, like coffee prices, will sky rocket. I don’t believe this will happen today. Here’s why. Rental Trends Ever since 1940, fewer and few er rental units have been construct ed. Fifty-five per cent of all bous ing units now in existence are own er occupied, compared with a 45 per cent home ownership just be fore World War 11. This trend has increased even more sharply in the last 3 years, so that in 1951-52 on ly 12 per cent of the new housing starts were rental units! Despite the fact that new rentals have decreased PtfM W, Bftbso* sharply, I believe the supply will be sufficient to satisfy demand and, therefore, keep rental prices down. My reasons for this belief Come from the fact that the building market Since 1946 has been an own ership market. The desire for own ership is inherent in democracy It has been stimulated by such factors as (1) the high income lev els of the war and post-war years, (2) the accelerated rate of mar riages due to war. (3) the desire to to “undouble” and have a home of ones’ own afte rthe war, and (4) the threat of atomic warfare and industrial decentralization, causing a shift to suburban living. Housing Demands and the Business Cycle 1 Full employment and high wag es go hand-in-hand with new hous “ffiBTstarts. Barring war, we may # Yes, this fine phar macy is a/ your service. Call on us for anything you may need in drugs and sundries. And be sure to bring us your Doctor’s prescriptions for our usual careful , _xmi^ounding> -Thanks! - Howard's Pharmacy Phone 101 have reached the peak of both the employment and the( bdilding boom. New household formations, due to marriages and setting up of independent family units, remained far ahead of the residential build ing rate from 1930 to 1950, with new housing starts about four and one-half million behind family starts However, since 1946, new housing units have been at an av erage rate of one million per year, and, for the last three years, there have been more new housing starts than new families. The demand for new homes could soon taper off because oi the low birthrate that prevailed from 1930 to 1938. It is these few de pression babies who ai% now ap proaching marriageable age. This factor, plus the return to business normalcy (lessened demand for goods, lower wages, and less em ployment) could ease the housing situation. Rental Costs and Decontrol While the earnings of most in dustrial workers have risen over 200 per cent since 1935-39, rents for moderate-income families have increased only 40 per cent during these years. On the other hand, prices of many other commodities and services have increased about 100 per cent. Monthly middle-class rentals in fourteen leading Metro politan areas averaged $93 in 1950. Today the average is $100. With average rentals of $100 and average annual incomes of $5,000, renters are paying about 24 per cent of their gross income for housing. This is a fair percentage. The group that might feel the pinch most if rent controls were liftea in restricted metropolitan areas would be the lower-income city dwellers who pay about 15 per cent of their gross earnings of $3,- tb $4,000 on confraeFrent. In nine cities, decontrolled In 1950, gross rents increased on an aver age of 15 per cent by 1952. Suppose that controls were lifted in presently controlled city areas and rents did go up 15 per cent per month, what then? This would bring rentals to low-income city dwellrs up to about $50. Since landlords cannot afford to build houses to rent for even $50 per month, many will move to the su burbs and buy a small house. Hence, the demand for small su burban homes might remain high, with as many as could afford it moving out of the large cities to live in their own small new hous es. This, in turn, might leave more rental units available in the cities. As more such rentals became sub standard, city rental prices could even decrease and would therefore, be little affected by decontrol. Su- burbah rentals could, however, be expected to hold their own and, in some areas, increase slightly, as long as business holds to present levels. we need to practice the proper con servation of sewerage, garbage and 1 other urban wastes which ought to be processed and returned to the land. God has entrusted -the. care, con servation and cultivation of the soil to us because He Jloves us. When we gladly and faithjfull^' accept His trust, loving Him with all that we are and each other as we should, we share the beauty, bounty and blesings which are inherent jn man and the land. Preaching time is over. It is time to practice what we have preached. There is more in the man and more in the land. Let us go on with a greater faith in farming, producing personalities who use every product and their God-given powers for the greater j good of all mankind. —T. B. ALTMAN, Pastor Bush River Baptist Church, j Route 3, Newberry, S. C. McKittrick To Receive Bible Degree James A. McKittrick, son of Mr. and Mrs. J. A. McKittrick, Mount- ville, will receive the Bachelor of Arts degree with a major in Bible from the Tennessee Temple College, Chattanooga) Tenn., on May 25. Mr. McKittrick’s future plans are for evangelistic work. While in school he has also pastored one of the chap els of the Highland Park Baptist church of Chattanoga. Fourth Shipment — Repeated by Request SADDLE STITCHED LUGGAGE MAN’S AIR TRAVEL WEIGHT BAG WITH ZlPFER, STURDY AND WATERPROOF SORRY —NO TERMS ONE-TIME OFFER HAMILTON’S Blue Nile Diambnds Read The Chronicle-Y our Neighbor Doe* STEWARDS OF THE SOIL My father has always said, “There is more in the man than in the land.” I believe there is more in both the land and the man than we have realized. Good stewards of the soil accept] and use the natural fertility and productivity of-the soil, as well as their ability, as a trust. Good stewards practice soil conservation, conscious of the need of providing) an abundance for all so that half) the world will not be hungry, ill- clothed and cared for. Everyone I can live at its best by cooperat-j ing in producing an abundance. We have specialists, - engineers I and leaders who show us how this) can be done by saving and replac ing all the soil minerals and water! posible and by increasing the fer- f tility with a balanced program of contour, grass legumes, trees, row crop, cattle, livestock, dairy and fish farming. Wasteland can be) converted into wealth land. Shall we not accept our responsi-1 bility as stewards of the soil? It has been well said that, “It’s do ing right with the land that counts.” By creation and preser vation, God owns the land; we are only His administrators. We are to learn and apply all we can in continuing the right practices at the right times until we really have “a land flowing with milk and hon-[ ey.” We/ are healthier and happier when we appreciate and protect the soil. Better soil means better food | and better health. We must do more organic farm-1 ing. The soil is soil that has lost) some of its elements. Healthy soil]] is whole soil. To enrich the soil ELECT ttiF'" • Hear MOORE on RADIO TONIGHT 8:30 WFBC WSPA WORD WBCU FRIDAY, MAY 22 12:30 P. M. WESC WEAD I Hear and See MOORE on Television , WBTV Monday, May 25 7:30 P. M. Charles ressman FOURTH CONGRESSIONAL DISTRICT r -t; - % In Special Election June 2 Moore Is • f • Honestr- Experienced - Capable k / I ♦ * Ha$ Served 10 Years In the House and Senate From Spartanburg County THREE YEARS IN ARMED SERVICE A man of seasoned judgment in government affairs, young and vigorous, and well qualified to make an acceptable and useful representa tive in Congress from the Fourth Congressional - District. Be Sure To Vote June 2 For Charles C. Moore This advertisement and endorsement of Senator Moore paid for by Laurens County Friends