Post Number: 253
|Posted on Tuesday, April 24, 2007 - 12:45 am: || |
From Sugrue:Throughout the city, builders preferred to construct homes for well to do buyers. Common Council member George Edwards testified in 1947 that "the houses we are building are either for sale at prices the vast majority of us cannot afford or are offered at monthly rents twice what most of us can afford"
So nothing has changed in 60 years....
Post Number: 794
|Posted on Tuesday, April 24, 2007 - 6:43 am: || |
I would be very careful of drawing any analogies or conclusions based on a comparison to the situation that existed back then. During the immediate post World War Two period, manufacturing and construction companies were racing to supply all of the pent-up consumer demand caused by war-time restrictions and war-time price controls were no longer in effect.
Post Number: 1250
|Posted on Tuesday, April 24, 2007 - 7:58 am: || |
At the same time Edwards was saying that my Father bought his first house, a brand new bungalow in NW Detroit for $9,800 (a modest sum then), on the GI bill. It took 20 years to pay off. There were many of these homes going up in Detroit (and neighboring suburbs) due to the pent-up demand for housing after the war.