im. But ^
is know *
find ti be'
;. He is m
Ot a man11
I the Hon;
r off -
1955 — and I believe it is a conserva-
hve estimate. The Chamber of Commerce of the United States, for exam-
P'e. recently published a statement
which I will quote:
, These figures certainly indicate
*at, despite the discovery that the
l^s'dential modernization market may
jj* about twice as large as we thought,
•J16 limit nitty be far from reached. A
Possible additional expansion of 25 to
~V Per cent of the present activity is
, * also want to read to you the sen-
e^ce immediately following:
,. this is a challenge to the construc-
'°n industry that should not be passed
a time when other sectors of the
Instruction market may be tempo-
rt|y c]ose to tjle ]jm,ts 0f increased
A SPECTACULAR OPPORTUNITY
1 fhis is indeed a challenge to home
'"'"'is. It is also an opportunity of
/"^tacular dimensions for lenders,
all' °rs' architects, producers, and all
^ ed trades and professions. It will
ttipari a whole new area of employ-
|Knt for labor. And neither the chal-
- -e nor the opportunities will be
S3 I ?d by a"y °* t^se.
Its).., n°t use the term "challenge"
vl k °,r years tt nearly hopeless burden
tax '' J MHs
°een placed on the individual
divide" his fowner who wished to improve
vith tj1 (Je h°nie in an older neighborhood.
'■AtiT'i5 us"a,lv, unabJe'" 1>("",w the
1 up s 'tie a rea' J0" °' improvement —
■ vM 6n J*I winK> " new bathroom or kitch-
•4 stj^.h'"cause few wished to lend sub-
, (o ^ *t&„ sums to a home owner in an
of 0- fjg ar'''' that showed signs of blight.
- A Di-„.'n.v we have a really fresh ap-
y> nor as a matter of rhetoric.
(V, , 'v H«,V W 1W»IIJ UV.,]| tip"
>fh ^e "r^e ''road-scale, neigh-
re 'jj ilist °°^"w'de home improvement, not
tvvecii 1* Of J?(.'k''ts of endeavor. And instead
L™g solely on the part-time ef-
llied in(I!l ^th , VVeH-meaning citizen groups —
(KipC''1'', Kfy ' w"Om there would lie no real
the"' Ho f ~~ we now re'y a's" "" ^e
. -ill(H' ™tir. ii..,, iviv >ii.T,i
'mCv<P % fi13' '""' local liiisinessin,
rt "hat «j fiij d> this crusade the full
■ indt|S"j K)a0^'a' an(' economic need without
truct f, l|0llde^i2ing ""' interests of
to imp'*! ^is^kSt at the same time remark that
on or K \)l rcsponsibilitv of businessmen
,st of "' Sofni,ders t0 '"' vi8ilant in the inter-
litioiia'j '"tlij '"""' owners. There is no phi
H|l rC^ %]Snation;il movement for greed ..
a exceSj ^^s Practices. There can be no tol
The ^ \%\n "' 'ax'ty in granting either t
doll.1'"'' iiti. '"' government-insured lo.
six'"' V; '''Oilers and builders aliki
Pom vt News, April, 1956
granting of both these types of loans.
You are all aware that during the
half-dozen years ahead there will be a
fall-off in new family formations due
to the coming of age of the smaller
baby crop born during the depression
period of the 1930's. An attendant
moderate drop in demand for new
homes during those few years can be
very profitably balanced by satisfying
the demand for home improvement —
and thus, without risking pressures of
an inflationary character, keep fully
employed the producers and suppliers
of building materials, the forces of
labor tind management. At the same
time the building industry will be tooling up in preparation for the clearly
visible new home-building boom that
will get under way in the early 1900s.
As one new and practical step to
assist in the home-improvement effort,
the Housing and Home Finance
Agency will recommend liberalization
of its procedures, through both legislation and regulations, to an extent that
will bring our mortgage insurance
facilities into phase with today's standards. We are also undertaking to send
through the country highly qualified
teams to aid in training the personnel
in all our field offices and thus expedite till qualifying applications for
MEETING THE CHALLENGE
The challenge facing us all will be
met. All elements of the building industry are moving forward to accept
the challenge and to seize the opportunity.
Newspapers great and small, magazines of every kind, trade journals, the
radio and television chains, all are
giving lavishly of their space and time.
They, too, have determined to meet
Many other industries, some of them
not even indirectly associated with the
building and building-service industries, have recognized the challenge.
They know that anv thing which makes
for a better America must have their
support. And thev are warmly giving it.
Municipal authorities in thousands
of communities feel the challenge
deeply. They are very close to the
need for improving the homes of
America. They know the importance
of good homes and sound neighborhoods in maintaining tt sound capital
structure in their communities. And
they know how great are both the
financial and social dividends. Their
support is being given to the limit.
I believe I am safe in saying that no
peacetime endeavor of the American
people has ever had such assurance of
universal support as this, our nationwide home improvement enterprise, a
true partnership of private industry
and government. This partnership litis
no opposition. Everywhere it has support.
A SINGLE PURPOSE
In this room here today, in addition
to the representatives of many industries, there tire present distinguished
members of both houses of Congress.
Many of the President's Cabinet and
several of the White House staff are
with us today, as are other government officials from a number of departments, state and municipal officers
and community leaders. There are
labor leaders, education and health
authorities, publishers, editors, news
analysts. There are religious leaders
and persons eminent in numerous
other fields of activity. All of you have
come here with a single purpose.
You have come to demonstrate your
faith in the enterprise that all of us
arc undertaking together.
You believe that our postwar technology, which litis already greatly
raised the level of living in America,
vv ill continue to advance. You believe
that the soaring national standard of
livability can be increasingly enjoyed
by ever-growing numbers of our people. And you believe that millions of
them are eager to realize that standard in its most elemental reality —the
homes in which they live and rear
their children to become useful members of society.
You believe, too. I have no doubt,
that as millions of Americans in the
medium income group advance their
present level ol living closer to the
new American standards, private industry as a whole will become more
and more convinced of the real feasibility — as well as the desirability,
which no one now disputes — of home
improvement on an even broader
scale. We should never permit ourselves to forget that the long-term
objective — the attainment of which
will be most profitable in every way
lor till concerned — is to raise the level
of living for all the American people.
I have here a letter written to me by
the President of the United States, in
which he says in part:
1 hope that tin- Housing and Home Finance
Agency cm now loin with communities, the
building and lending industries, and private citizens in a nationwide effort toward