Caption: The Federal Reserve Board and the Reagan administration are like two bulls in the same ring, with neither willing so far to budge in any way to help out the housing industry - or any other corporate structure caught in the high interest vise.That's how Michael Sumichrast, chief economist and vice-president of the National Association of Home Builders, describes the outlook in Washington for the besieged housing industry, which last year only produced only 1,070,000 units- the lowest production total since 1946 and the fewest new homes per capital since the Depression.
The front and back of this photograph are pictured below.
