The Clinton chronicle. (Clinton, S.C.) 1901-current, May 21, 1953, Image 9
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The Chronicle
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paper, Complete, Newsy
and Reliable
®he (Clinton
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If You Don’t Read
The Chronicle
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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
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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