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Page I SECTION C THE HERALD Wednesday November ikz Grey skies are gonna clear up Canadian realty says FUNDS FOR FUN Vicepresident of the Speyslde Highland Gaines Association Harry Levy right presented tile toy lending library Georgetown with a lait week The money received by North Halloa Associa tion the Mentally Retarded president Bert Arnold will be to purchase new toys for the library located la George Kennedy Public School While the library was established by the primarily for use of mentallyhandicapped young sters its members also Include parents of non- handicapped children Young Ben Redman tried out one of the library acquisitions Herald photo by Aagaard Aid to Poland Under the auspices of the International Red Cross more than 30 underprivileged children attended Palish Red Cross summer camps this year Food was contributed for the vacation camps from around the world and camp supervisors included about a dozen Red Cross Youth from Scandinavia Germany and Italy Courses available Middle eastern conflicts Canadian unity every day morality and parents value and schools are topics lined up for four University of Waterloo lectures taking place at the Erin Legion hall between Nov 11 and Dec Information about the lectures being presented by Extended Learning Opportunities a seniors group in Erin Is available from the university Call extension At the Waldorf All former members of lh Royal Winnipeg Rifle are invited to contact their Association at Box Winnipeg Manitoba regarding the planned 100th anniversary reunion next year Rifle corps reunion a free afternoon of shopping entertainment and refreshments at Bathurat St in Children can keep busy making candles and coloring or the Good Witch and the fishpond Autographed copies naturalist painter Robert Bateman continues to support the fundraising drive for the restoration of an ancient Indian village at Crawford Lake In Mil ton with special signing of his book The Art of Robert artist wellknown internationally will write a personal message Inside all copies of the book through the Halloo Region Conservation Foundat ion which is riming the campaign to raise about oneseventh of which has thus far been collected Copies arc available for from the Region Conservation Authority Main St Milton or by calling Ellis at By MACK PARLIAMENT Canadian Real Association Recessions like the one Canada Is currently expe riencing arc periods of skepticism for some people but for others they are seen as periods of opportunity And this one presents every bit much opportunity as the ones which preceded it As Prime Minister Pierre Trudeau so aptly phrased It in his recent TV and radio addresses to the nation Those of you who are skeptical I ask you to look again at what your fellow Canadians ore doing and see for yourselves we can define our potential when we declare by our success that we Canadi ans do what we set out to do Although most Canadi ans did not experience the trauma of the Great De pression of the 1930s to which the present econo mic downturn is redly compared they have encountered other recessions and weathered them admirably Those who seized the opportu nities characteristic of recessions are reaping Ihe benefits today Actually Canada has had six recessions since World War II of various duration and intensity The present one how ever Is the moat severe and the longest in recent memory For at least part of this recession and the five that preceded it the ele mentary theories of eco nomics were breached Instead of prices coming down In a troubled eco nomic period they con tinued to rise Inflation continued apace eventu ally downgrading a dollar that was worth 100 cents In to only 4 RATES ALL Now that is changing and some though not all prices are declining In flation is receding That brings to the fore opportunity to make a dollar work harder One of the roost come and Important changes has been the steady decline In Interest rates which has occurred in recent months The Bank or Canada rate dropped to 11 S3 per cent the third week in October tbe lowest rate In several months The chartered banks have fallowed suit steadily reducing their personal loon and gage Interest rates Of course when they reduce rales lo borrowers which reached a peak of per cent last year they also reduced tbe rates fop depositors So savings now return fewer dollars in Interest With prime lending rates at 13 per cent In October the return on deposits has skidded to per cent from IS per cent a year earlier Historically Canadians hove been inveterate savers and on average are removing 12 per cent of their disposable income from circulation by locking it up In various forms of savings There is now an for the savers to help dispel some the grey clouds of the re cession by spending some of the savings on postpon purchases Spending creates employment and the larger the item pur chased more man hours go Into its produc tion and eventually more money Is placed In cir culation creating even more Jobs thus helping recover from the rectal IN YEARS Two such items are cars and houses both of which have been expert tough production year to put it mildly Sates of can have slump ed abysmally affecting steel Industry Con struction of new bouses was at a seasonally adjusted rate of only in September depressing the lumber building and appliance This was the lowest monthly housing starts figure in years It has occurred despite provin cial aid programs tbe federal government grant program to all buyers of new homes and first time buyers of existing resale homes and declining average prices According to Statistics Canada the price of new homes is lower than a year ago The average price of existing homes has fallen even further Between August 1961 and the same month In 1982 the decrease was per cent dropping the average to There arc Indi cations however the decline has bottomed out Home decreases arc in sharp contrast to the upward movement of price of rental The II month increase for Canada end ing in August was per cent despite rent con trols In most provinces but abetted by a shortage of new rental accommo dation construction During the past year mortgage Interest rates have followed the path token by interest rates generally thereby under going a dramatic change and In recent months staying on a steep down ward track The oneyear closed mortgages have fallen from 21 per cent In October to as low 11 per cent currently Rates for other types of mortgages have also de clined to as low as IS per cent for twoyear mort gages 1525 per cent for three year mortgages and IS for five years The resulting savings to home purchasers are substantial PERCENT Taking the previously mentioned 6947B aver age price or a resale home with a 10 per cent down payment of and the 000 federal grant there is a principal balance of The monthly mortgage payment on this balance at last year per cent rate amor tired over years would be 10 But at the current interest rate would drop to a saving of per month a reduction of 31 per cent The saving is even greater when the lower average price of homes today compared with a year ago It taken Into account The opportunity afford by prices and interest rates has caught the imagination of many Canadians who have translated that into home ownership Since August the pace of purchases of resale Clowns go bowling on PD Day The Georgetown D Day Happenings are returning Nov All children from five to 13 years are Invited to the a Bowling and Clown Day TbeYwiUhaveafull day of activities planned which will include bowl Ing clown makeup a mini carnival coloring fun and movies The program will run from to and will cost for the first child and 11 for each additional child in the same family Extended care will be available from and pm and will cost extra for each child It is Important to register for the s P D Happenings by Nov 20 For further information call Tbe Georgetown re quires volunteers for all Day Happenings If you would like to assist please call or drop Into our office at Moun- S homes has been higher than a year ago In cities such as Vic toria and Vancouver pur chases In September were more than double the number in the same month last year In purchases climbed per cent in Saskatoon 33 per cent in Winnipeg per cent in Toronto per cent in Montreal per cent in per cent and in St Johns per cent white in Halifax volume remained stable with only a one per cent Increase However with year low in the construc tion of new houses higher demand for existing homes and continual Increase In rents bouse prices are not expected to remain at their current low levels In addition some economists are forecasting interest rates will also begin to climb again Style comfort and security tor your In this home Asking Call Barker TOR REDUCED- Overlooking the Silver Creek Vadev north of town and you should see See It with Ruth For a secure investment Del all the good numbers tram Bill Ems Asking at and Streets GRANDMA HOUSE The picture says it all Asking only 900 but limed Commercial to turn your hob- money ruker Can TOUR HOME To Spaitftno hardwood to enhance your runs with tasteful decor Don I miss la 111 Ellis 79 91 Good Meek lOac Reforested 46 Hugged 46 MonoHiiiiop 900 Call Bill Ells tor detass and map acreage locations UTOOWKOOPUr Rent one In one Prime location lor future develop Tough 0 f Sea Ruth acres with Strew and 30 steel bam Small green home bum right onto the home A lot of goodies lor the price Get the whole story from Ruth ON THE Ml This lovely only out Ruth there A good neighbourhood and good Just add your lamify fay catling Ruth lament Asking acres near Pine view School Good home drive shed and big bam About acres hardwood bush ideal for beet or orchard