Word: spurs
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Dates: during 1950-1959
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...spur the upswing in residential building, the Federal Housing Administration last week eased credit for home buyers, second such move in two weeks. Most buyers will no longer have to put up cash for closing costs in buying a new house, but can tack them on the mortgage loan, thus lowering down payments. To attract more lenders, the agency increased allowable discounts (to a maximum 3%) on FHA-backed mortgages in 17 Western states, where mortgage money is tight...
...there was positive good news, too, to encourage the market. Department-store sales were still running at a record pace. Higher military spending and more rapid contract-letting promised to spur defense industries, while relaxed credit requirements for FHA home buyers (see Housing) promised to give the housing industry, already on the upgrade, another boost...
...from Federal Housing Administration headquarters in Washington went a new directive to spur housing by drastically revising credit policies for buyers of houses with FHA-insured mortgages. The new policies are expected to double the number of potential purchasers of houses costing $15,000, while trebling the market for $20,000 homes. Said George Goodyear, president of the National Association of Home Builders: "This is good news for every builder. It removes one of the worst obstacles we have had to face...
...least as good; only 1% expected to cut production. In Hollywood, Fla. 1,050 conventioneers at the Investment Bankers Association predicted that easier money will bolster the slump in capital investments, that record personal incomes will lift consumer buying to new peaks, that low inventories will be rebuilt and spur manufacturing. To cool down recession talk, the New York Federal Reserve Bank made one of its rare public predictions, said that "the period of most severe decline may have been passed," and only "relatively mild" adjustments seem to lie ahead. Manhattan's Guaranty Trust Co. said that chances...
Batista is angry as well as sad. Though the army and most of organized labor are still his, he cannot put down the revolt, has managed only to spur it with clumsy counterterrorism. Risking shoot-on-sight orders, Castro partisans are putting the torch to the budding sugar-cane crop on which the Cuban economy depends. The army said it shot four rebels in the cane fields last week. "Criminals!" shouts Batista now. "Communists...