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Economy / Soaring House Costs #228966

CBS Evening News for Tuesday, Jun 12, 1973
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(Studio) Econ. troubles hit young families looking for suburban housing. Home costs increase 90% in last decade.
REPORTER: Roger Mudd

(Bergen Cnty., New Jersey) Bergen Cnty., New Jersey, suburb NYC. Home costs have doubled. Home bought for $12,000 in `50's worth $45,000 today.
REPORTER: David Dow

(Oak Park, Illinois) With cheap construction new hses. not selling here as well as older, stronger homes. Prices now soaring for older homes and with short supply, price to go higher.
REPORTER: Jeff Williams

(Covina, California) Typical $15,000 house now selling $30,000. Grace Clark, real estate agent, shows Mrs. Steven Cliff the house She winces at price caused by inflation, high interest rates and supply and demand. Yes. Clark says payments to be $290 month and Cliff family decides against buying this home.
REPORTER: Terry Drinkwater

Reporter(s):
Dow, David;
Drinkwater, Terry;
Mudd, Roger;
Williams, Jeff
Duration:
00:03:50

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