TABLE 5.-Price indexes for all commodities, all building materials, and selected building materials

NOTE.-Yearly average indexes are computed on a 52-week basis and with revised figures independent of the monthly indexes. For this reason they do not always agree with averages as computed directly from the published monthly indexes.

Source: Bureau of Labor Statistics.

TABLE 6.—Estimated average monthly number of man-months of work on new construction,1 by type of construction, 1939–47

TABLE 7.-Estimated average hours of work and earnings in building construction by

TABLE 8.-Comparison of HHFA administrative expenses, fiscal years 1947 and 1948

Includes expenses only for that 512-month period during which the Office of the Administrator was operated separately from the Office of the Housing Expediter.

Nonrecurring items under Public Law 256.

TABLE 9.-Summary of comparative statement of HHFA income and expenses,1 fiscal years ending June 30, 1947 and 1948

Net income before reserve adjustments and cost or value of property disposed of.

102, 430, 283

Net adjustments to reserves..

4,426, 333

164,780, 326 -1,449, 088

Adjustment of net income for year (before cost or value of property disposed of 3)..

1 Based on data submitted in President's Budget, adjusted to reflect estimated effects of Public Law 394 2 Includes subsistence homesteads and Greenbelt towns.

Does not reflect cost or book value of property disposed of, consisting chiefly of war-housing properties transferred or dedicated for local public use, sold, demolished, destroyed by fire, or otherwise disposed of.

TABLE 10.-Consolidated report of Lanham Act and related housing funds at Dec. 31, 1947

Appendix B

CHRONOLOGY OF SIGNIFICANT EVENTS
IN HOUSING, 1947

1– 1–1947 FHA issued revised edition of Underwriting Manual.
1-1-1947 CPA and OHE announced end of "set-asides" requirements for
building material dealers, although existing HH priorities remained
in effect until April 15, 1947.

1-10-1947 Nonhousing construction quota under VHP-1 raised from 35 to 50 million dollars weekly.

1-11-1947 By Executive Order 9820 emergency functions of the Office of the Housing Expediter were segregated from other responsibilities of the National Housing Agency.

1-15-1947 FHA announced approval of its largest single title VI project, a 629-unit veterans' housing project in Indianapolis with a $4,792,500

insured mortgage.

1-25-1947 National Housing Administrator Foley announced establishment of NHA Coordinating Council.

1-27-1947 1-31-1947

3-10-1947

Two-day conference on housing statistics convened in Washington. To provide a clearing house for technical research information in the field of construction, a Building Construction Research Board was set up by the National Research Council of the National Academy of Sciences.

Taft-Ellender-Wagner bill, S. 866, introduced.

3-27-1947 End of 1 year of VHP-1, the nonresidential construction limitation order, showed 3 billion dollars in approved applications and 2.1 billion dollars nonessential construction denied.

3-28-1947 Economic and Social Council of the United Nations adopted a housing and town planning resolution that set the framework for continued study of world housing by the UN, specialized international agencies, and an international conference of experts to be held in 1948.

4- 1-1947 OHE absorbed housing functions and housing organization of CPA as provided in Executive Order No. 9863, March 22, 1947. 4-23-1947 Minnesota became the forty-first State to enact legislation authorizing creation of local housing authorities with power to build federally aided low-rent public housing. The law also authorizes local authorities to operate as redevelopment authorities with power to undertake and operate housing or redevelopment projects. 4-24-1947 Senate Banking and Currency Committee favorably reported Taft-Ellender-Wagner bill.

54-1947 OHE took over rent control from OTC.

5-31-1947

Public Law No. 85, Eightieth Congress, approved, authorizing an additional appropriation of $35,500,000 for completion of certain temporary veterans' housing.

6- 1-1947 Federal housing permits no longer required of those who want to build homes for themselves or for veterans.

6-26-1947 Public Law 120 approved, extending FHA title I insuring authority from July 1, 1947, to July 1, 1949.

6-30-1947 Public Law 129, Housing and Rent Act of 1947, approved1. to extend title VI of National Housing Act from June 30,

1947, to March 31, 1948.

2. to authorize FHA to insure loans to manufacturers of houses

(section 609).

3. to limit control of nonresidential construction to that designed for amusement or recreational purposes.

4. to extend revised rent control plan to February 29, 1948. 5. to repeal authority of the Housing Expediter to allocate materials, to use directive powers, to execute new premiumpayment agreements or new market-guarantee contracts. 6-30-1947 Public Law 132 approved abolishing the RFC Mortgage Company and the RFC secondary market for GI Loans and providing that ownership of capital stock in Federal home loan banks be returned by RFC to Treasury.

7--1947 Home construction failed to show usual seasonal decline and continued successive monthly increases in number of units started from January through October.

7-25-1947 Public Law 239 approved, starting the 2-year period during which all temporary war housing built under Lanham Act must be removed except that needed for orderly demobilization of the war effort.

7-26-1947 House Concurrent Resolution 104 approved, providing for appointment of Joint Congressional Committee on Housing.

7-27-1947 Reorganization Plan No. 3 of 1947 became effective, creating the Housing and Home Finance Agency, including National Housing Council.

7-29-1947 Appropriation of $35,500,000 for completion of veterans' reuse program.

7-31-1947 Public Law 301 approved, amending the United States Housing Act of 1937 to permit low-rent housing projects which had been held up because of high costs to go ahead with construction provided local housing agencies pay difference between cost limitations and actual construction costs. This law also placed restrictions on removal of over-income tenants from public housing.

8-1-1947 Public Law 311 approved, making mortgages with 25-year maturities eligible as collateral for Federal home-loan bank advances to member institutions.

8-5-1947 Public Law 366 approved, increasing FHA title VI maximum authorization from 3.8 to 4.2 billion dollars and providing for

insurance of mortgages on permanent war housing sold by the Government (section 610).

8-6-1947 Public Law 372 approved, authorizing Federal savings and loan associations to invest up to 15 percent of assets in unsecured or junior lien property improvement loans up to $1,500 each.

8-7-1947 President Truman gave recess appointments to NH Administrator Raymond M. Foley to be Administrator, HHFA; FHA Commissioner Franklin D. Richards to be Commissioner, FHA; FPHA Commissioner Dillon S. Myer to be Commissioner, PHA; and FHLBA Commissioner John H. Fahey to be Chairman, HLBB, and J. Alton Adams and Nathaniel Dyke to be members, HLBB.

8-19-1947 Title I, class 3, small-home program revived under revised regulations issued by FHA.