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Comparison of estimated gross monthly rental on an $8,000, 41⁄2-room unit financed under proposals for nonprofit and cooperative housing for families of moderate income and with a 90-percent mortgage insured by FHA under sec. 608 for a privately owned (for profit) project

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1 Vavancy reserve of 3 percent used in view of cooperative feature and low rental rate. 2 Vacancy allowance of 7 percent.

3 Operating expenses, including all utilities and a reserve for replacement, of $24.40 per unit per month assuming same experience as on PHA low-rent housing assisted under USHA Act.

4 These figures for estimated operating expenses represent actual operating experience on large-scale rental housing projects insured by the FHA, adjusted to reflect what in the opinion of FHA represents a national average operating cost on a well-run project-including utilities used by the tenants.

5 Real-estate taxes at 1.6 percent annually on total cost.

6 Loan at $8,000 for 50 years on a level annuity basis.

7 Includes principal and interest payments on a $7,200 mortgage at 4 percent for 32 years, 7 months, on a level annuity basis.

8 Mortgage insurance premium of one-half of 1 percent of the outstanding balance. Contingency reserve of 3 percent of taxes, operating expenses and debt service.

10 Funds available for income tax, reserves, and dividends.

Source: Housing and Home Finance Agency, Office of the Administrator, Economics and Statistics Branch, Jan. 5, 1950.

Estimated monthly gross and shelter rent and debt service for a nonprofit organization on a $7,000, $8,000, and $9,000 42-room dwelling unit with 100-percent financing, assuming project operating expenses as on FHA projects

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1 Estimated on the basis of a special review of operating expenses in higher cost urban areas: Operating expenses, including all utilities and a reserve for replacement, of $24.40 per unit per month assuming same experience as on PHA low-rent public housing assisted under USHA Act; real estate taxes at 1.6 percent annually on total cost; contingency reserve of 3 percent of expenses; vacancy reserve, 3 percent; debt service as indicated.

2 Excluding all utilities-gas, electricity, water, fuel, and pay roll for heating. Estimates assume same experience on operating expenses as on PHA low-rent public housing assisted under USHA Act-operating expenses $24.40 per unit per month less $8 for aforementioned utilities.

3 Includes only interest and principal on level annuity basis.

Source: Housing and Home Finance Agency, Office of the Administrator, Economics and Statistics Branch, Jan. 9, 1950.

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Distribution by total money-income level for families of 2 or more persons, 1948

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Source: Bureau of Census, Department of Commerce, Jan. 26, 1950.

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Distribution by number of rooms of dwelling units in sec. 608, Veterans' Emergency Housing projects covered by commitments issued January to June 1949, United States total and selected insuring offices

1 Insurance office jurisdiction covers more than just the city named. For example, the Washington office covers the Washington metropolitan area, New York and Houston about 1% of their respective States. The Philadelphia office covers eastern Pennsylvania and all of Delaware. The Chicago, Detroit, and San Francisco offices have jurisdiction over about half of their respective States while the Atlanta, Greensboro, Topeka, and Denver ofices embrace all of their respective States.

? Totals do not always add to 100 percent because of rounding.

Source: Federal Housing Administration.

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Distribution of monthly rentals of dwelling units in sec. 608 Veterans' Emergency Housing projects covered by commitments issued January to June 1949, United States total, and selected insuring offices

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1 Insurance office jurisdiction covers more than just the city named. For example, the Washington office covers the Washington metropolitan area, New York and Houston
about % of their respective States. The Philadelphia office covers eastern Pennsylvania and all of Delaware. The Chicago, Detroit, and San Francisco offices have jurisdiction
over about half of their respective States while the Atlanta, Greensboro, Topeka, and Denver offices embrace all of their respective States.

In general monthly rentals cover shelter rent, cooking and refrigerator equipment, space heat, hot and cold water, janitor services, grounds maintenance, and in some cases gas
and electricity. In about 14 of the units, either heat or cooking or refrigerator equipment must be provided by the tenants and in 10 percent of the units, largely row-house or semi-
detached units, only minimum services are covered by rents.

3 Totals do not always add to 100 percent because of rounding.

4 Less than 0.05 percent.

$33.8 percent of monthly rentals are less than $45. 38.3 percent of monthly rentals are less than $45.

Source: Federal Housing Administration.

Mr. FOLEY. I would be glad to have questions at this time, or if the committee prefers to have Mr. Richards proceed with his statement at this time, he is prepared to do so, I believe.

Mr. PATMAN. Mr. Foley, do you have any statistics on the number of homes in the United States, single homes, and not apartments, just the number of single homes?

Mr. FOLEY. I am quite sure we do have, although I don't have the figures in mind. I will ask my statistical people if we have the material here. I will have them in a moment.

Mr. PATMAN. And also the number of residential units regardless of size.

Mr. FOLEY. We have that.

Mr. PATMAN. Can you give that to me now?

Mr. FOLEY. That will be in the figures which will be submitted for the record.

Mr. PATMAN. You mentioned in your statement, which is a very fine statement, it is very comprehensive, in fact, it answered practically every question I had in mind-I don't know any questions to ask about the particular bills that you have not covered fully, but you mentioned in this statement that we have been on these programs now for the past 15 years, and I would just like to know how we are getting along. The Government has been furnishing many incentives to guarantee home loans and to make home building attractive, and I would just like to know what progress has been made by the people in that direction, how the number of home owners now compare with the number of home owners 15 years ago.

Mr. FOLEY. You mean the number of home owners in the country as compared

Mr. PATMAN. Yes.

Mr. FOLEY. I don't have it in mind but my impression is that it has increased.

Mr. PATMAN. It has increased?

Mr. FOLEY. That is my impression, but I will be glad to furnish the figures.

(The matter referred to above is as follows:)

As the accompanying table indicates, the 15-year period 1935-49 saw an increasingly larger production of one-family structures, a type which, traditionally is nearly all owner-occupied. While final data for 1949 are not yet available, preliminary data make it appear that approximately 780,000 of the nearly 984,000 nonfarm units started in 1949 will be one-family homes. These 15 years encompass part of the depression years of the mid-thirties, the war years with their restrictions on home building, and the postwar reconversion era in which, in 1949, a new all-time record production of homes was established.

As the table shows, in the relatively normal prewar years of 1938-41 approximately 31 percent of all privately financed units were started with Federal Housing Administration commitments to insure. This percentage has been running slightly higher in the past 2 years, indicating that at a time when private home building is at record peaks FHA aid for privately financed homes is playing an even more important part than it did in the prewar years. In addition, in the postwar years there has been an important volume of units started under the Veterans' Administration home-loan guaranty program. Taken together, in the past 3 years, approximately 45 percent of all units started have been either Veterans' Administration or Federal Housing Administration aided.

In April 1947, according to Bureau of the Census estimates, there were 41,625,000 dwelling places both farm and nonfarm in the United States ranging all the way from one-room mansions to one-room shacks. Reflecting a continuation of a trend away from the farms the 34,133,000 nonfarm dwellings in 1947 represented the highest proportion on nonfarm units in our history.

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