Word: low-cost
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Married graduate students and veterans who apply now will find it impossible to acquire low-cost University-controlled apartments in Cambridge this fall. On the other hand, there are, at this date, over 500 furnished single and double rooms available which do not come under University jurisdiction...
...family units for veterans, the three University cooperative houses, and the Harvard Housing Trust all comparatively low-cost projects, are now full, with waiting lists going back as far as one year...
...Government has actually spent little cash itself. But by insuring loans up to 95% of the value of a house, the Federal Housing Administration made it easy for a builder to borrow the money with which to build low-cost houses. The Government made it just as easy for the buyer by liberally insuring his mortgage. Under a new housing act signed three months ago, the purchase terms on low-cost houses with Government-guaranteed mortgages were so liberalized that in many cases buying a house is now as easy as renting it. The new terms: 5% down (nothing down...
There are still 400 to 500 student veteran families eligible to live in University low-cost units, who can not be accommodated, an A. V. C. statement said...
Hathaway said that the University's decision to furnish the new low-cost housing was not at all influenced by the American Veterans Committee's drive to continue Harvard Way. "It is our job to provide this housing for veterans," he commented...