50 years ago

HEYWOOD real estate agent, Mr Reg Hedditch, has warned young couples against considering buying a home or property now. Mr Hedditch said it would be economically disastrous for young people to commit themselves to such investments during the credit squeeze now affecting the Western District. He also said all people in the district would feel the squeeze in the next few months. Mr. Hedditch is president of the South-West District of the Real Estate and Stock Institute. He said yesterday the credit squeeze now operating was serious, although it had not yet affected most people. “But the result of absurdly high interest rates will be felt by everyone in the community in the next few months,” he said.