The housing question

Bibliographic data

Monograph

Identifikator:: 832651257

URN:: urn:nbn:de:zbw-retromon-63075

Document type:: Monograph

Author:: Devas, Charles S. http://d-nb.info/gnd/124362435

Title:: Grundsätze der Volkswirtschaftslehre

Place of publication:: Freiburg

Publisher:: Herder

Year of publication:: 1896

Scope:: 1 Online-Ressource (XXIII, 521 S.)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

34 THE HOUSING QUESTION mons believe this, the Minister knew well that by far the greater part of the money borrowed was on short- period loan, e.g., Housing Bond money and the whole of the Local Loans Fund, which is the " banker " for all Local Authorities of under £200,000 rateable value. Does he mean to say that the Treasury borrowed money in 1919 and 1920 at 6 per cent, for periods of 60 years ? Had they done so, the sooner the National Exchequer were removed from the custody of his colleagues the better. The facts, of course, are that for most of the 60 year period the rate of interest on housing loans will, it may reasonably be expected, be nearer 4 per cent, than 6 per cent. Let us take another point. The subject under discussion on the 21st July was not so much a lament on the cost of houses contracted for before that date as whether Local Authorities should be allowed to build more houses in the future. The factor to take into account was the probable cost of future houses. When the Minister was speaking he knew well that the cost of houses had at that date dropped from £950 or more to £750 or so, and was likely to drop much further. (To-day the same house is less than £500.) But his whole calculations and argument were based on the house at £1,000. He was again wilfully deceiving the House of Commons. What then may we expect to be the annual " loss " per house to-day ? Assume a £500 house (i.e., more than the cost to-day). Add £75 for land, streets,

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