Page 14 - nlf1953sri
P. 14
(coipmonly known as the G. I. Bill of Rights),, and . (3) the willingness
of California employees to commute by automobile to their place of
work.
However, this is a modest development (containing about 55 homes)
and should not be considered as evidence that residential building on a
large scale would be successful in the area. The backlog of housing
demand in the immediate vicinity seems to have been nearly met and
the possibility of securing new G. I. financing is limited.
The Federal Housing Administration would not approve the Bonelli
project for FHA insurance because the FHA examiner felt that it was
too isolated from other subdivisions. Tracts developed closer to New-
hall may well be eligible for FHA financing, however; the FHA studies
each development on its own merits and only makes loans after thorough
invest igation.
-17-
