Word: slumming
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Dates: during 1950-1959
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...payment on $65 million borrowed from the Treasury for its operations over the years (plus $20 million in interest). Now that FHA is free of debt, the Eisenhower Administration plans to liberalize its insuring power to cover mortgages for as long as 40 years, as well as loans for slum-clearance programs (TIME, Dec. 14). The goal remains the same: to keep the U.S. housing industry operating at a high level...
...strike had been called at Wankie colliery, a forest-girt slum that taps Southern Rhodesia's massive coal reserves -more than 4 billion tons, mined in a 40-ft. seam. Owned by Sir Ernest Oppenheimer, whose vast copper mines in Northern Rhodesia are fueled by Southern Rhodesian coal, Wankie pays white miners at least $250 a month and its Negro miners an average in cash of $6.60 a month. Recently, the Negro union demanded a raise in their minimum rate (from 21? to 50?? a day), and when it made no headway, downed tools. Only...
...housing, they have written a long report to justify the virtual gutting of the low-rent housing and slum-clearance program...
...year more than the present rate. But he called for an experimental program under which the Government would encourage low-income families to buy their own homes, instead of moving into Government-built projects. The plan would be limited to families displaced by public projects such as slum clearance. It would involve lower down payments and longer-term mortgages, insured by the Government, on low-cost houses. The President gave no specific figures, but his housing advisory committee recently proposed no down payments and 40-year mortgages, which in many cases would make payments lower than rent (TIME...
...industry and the owner. To preserve existing houses, he would have the Government liberalize the terms on which it will insure loans for purchase and repair of older houses. Where local communities are doing their share, he would increase the Federal Government's grants and loans for slum clearance and rehabilitation...