Oregon daily emerald., November 20, 1978, Page 7, Image 7

Catherine siegner
of environmental concern
On Wednesday, November 29,
the Lane County Commissioners
will consider a proposed ordi
nance that would regulate the
transportation of radioactive mat
erial in and through the county.
If adopted, Lane County will join
New York City; New London,
Conn.; Shaker Heights, Ohio; Car
teret Borough and Union County
in New Jersey, and 38 cities and
towns in Vermont in banning or
Interest rates rise;
escalating costs
still afflict housing
By LORRAINE NELSON
Of the Emerald
Increasing interest rates on mortgage loans could slow
down the escalating cost of homes, but because the demand for
houses has fallen only slightly and construction costs are still
rising, prices will continue to increase.
That seems to be the conclusion of some Eugene-area ap
praisers and mortgage lenders.
Interest rates on loans for homes and construction of homes
and commerical buildings have increased, area mortgage len
ders report, in response to recent changes in the economy by
Carter to tighten the money supply.
Many banks in the state are now charging 10.25 percent
rates on home loans, according to Dan Dinges, vice president of
the First National Bank of Oregon, one of the largest banks in the
state. First National's rates jumped from 10 percent to 10.25
percent on Nov. 7, the first increase since last August.
Interest rates in general are under upward pressure, Dinges
reports.
Ed Whitelaw, University economics professor and economic
consultant for the city of Eugene, says that various economic
analysts predict interest rates will continue to rise through the first
or second quarter of 1979, and that the highest interest rates of all
time may be on the way.
However, Whitelaw says that many analysts feel the impact
of the high interest rates will not be as great as it was during the
1973-74 recession
While Whitelaw maintains that the number of new houses
and dwelling units constructed in the area will probably decrease,
area lenders report that demand for home loans has dropped only
"a little" in the last couple of weeks.
"It takes longer to sell the larger (over $80,000) homes,"
says appraiser John Gault. "They seem to hold on for two to four
months. Last spring they were sold after two weeks or 30 days."
Appraiser Ron Alford says "anytime you have an increase in
rates, you will have a slack in demand because some people
won't qualify for loans "
Many banks require that a potential home-buyer's salary be
four times the monthly payment he or she would have to make on
a loan.
A check with multiple listings last week shows that the aver
age market price of a three-bedroom home in the Eugene
Springfield area is about $59,478
Payments for an 80 percent (20 percent downpayment),
30-year loan on such a house would be $426.39 a month, plus a
down payment of $11,896, plus a 1.5 percent loan fee, (which
many banks are charging,) of $714.00
Payments for a 90 percent, 30-year loan of the same house
would be $479.68 a month, plus a down payment of $5,950 and a
loan fee of $803.
Appraiser Chris Bell says it is becoming more difficult to put
housing deals together because fewer people are eligible for
loans.
He says housing prices increased about 2 percent per month
between January and June and he predicts that the rate will now
decrease to .5 percent or lower.
He says prices will continue to rise because the cost of
building materials will continue to increase and because the
demand for new lots outweighs the supply of them.
Every item in both of our shops
is at least 10% off and
AS
MUCH
AS
.. .50% °fF
26th ANNIVERSARY SALE
Example:
All down coats
in stock will be
$10
Off
Open Sundays 12-5
A
Downtown Mall
S7 Watt Broadway
Campus Shop
7B4 East 13th
f
m
.civ
restricting such shipments.
Why the sudden concern? The
federal government has been try
ing to find a permanent nuclear
waste storage site since the
1950s. In the meantime, waste
has been piling up in enormous
quantities all over the country.
The Hanford Nuclear Reserva
tion in eastern Washington is one
site being considered as a perma
nent dump. Since April, four truck
loads of waste per day have been
shipped through Oregon on the
way to Hanford.
If Hanford becomes a major
nuclear waste repository, most of
the waste from California and the
southwestern United States will
travel through Lane County either
on Southern Pacific tracks or on
lnterstate-5—directly through
population centers.
Past derailings and truck acci
dents have dramatically illustrated
the inability of local, state or fed
eral officials to cope with evacua
tion or decontamination. Who has
jurisdication and who is financially
responsible for such accidents
has been unclear.
In response to these problems,
Clergy and Laity Concerned has
submitted the ordinance to the
commissioners. Based on the
New York City law, the proposed
ordinance would require a Certifi
cate of Emergency Transport for
all shipments of radioactive mater
ials (except those used for medi
cal or research purposes) by truck
or rail in or through Lane County.
The permits would be granted
by the county health officer only
for reasons of national security or
emergency. Economic considera
tions alone would not be sufficient
to override the health and safety
dangers posed by transportation
of radioactive materials.
If a permit is granted, the ap
plicant must obtain a bond to
cover the costs of cleanup, decon
tamination and immediate and re
sidual health exists arising from
radiation exposure. The general
administrator, with advice from
the Departments of Public Safety
and Environmental Management,
would determine the amount of
the bond.
The general administrator, with
the Department of Environmental
Management, would also develop
rules and procedures to be used in
the event of an accident involving
radiation release in Lane County.
The rules would be presented to
the county commissioners for
their consideration within 30 days
from the date the ordinance is
enacted.
Fines of up to $1000 would be
levied for each occurrence of an
ordinance violation.
The proposed ordinance would
help to protect the health and
property of Lane County residents
from the dangers of radioactive
contamination. Its adoption is al
ready overdue.
Blizzard buries Seattle
SEATTLE (AP) — Unprepared
Seattle, a city used to rain, found
itself digging out from up to 7 in
ches of snow Sunday. The snow
was blamed for over 100 traffic
accidents and power failures that
affected 22,000 customers at one
point.
The storm brewed overnight on
the heels of another that produced
blizzard conditions in Montana
and brought snow and cold to the
Upper Midwest. Those areas
were told to brace for more of the
same.
The Olympic Peninsula of
Washington state, site of a rain
forest and seldom host to snow in
the lowland areas, had 1 foot of
snow. Three hunters were mis
sing there, the search for them
hampered because of high winds.
Rescuers fought 30 mph winds
and drifts of 3-4 feet in eastern
Washington, which is used to
winter snow, in search of two other
hunters unaccounted for.
1
CHINA BLUE RESTAURANT
Buddha’s Feast
Most Famous Chinese Vegetable
Dish
Black mushrooms, bean curd, sheet black wood ear
and many more in special sauce
iSk
v_L:_
China Blue
879 E. 13th Ave.
343-2832
$4.75
Mon.-Thurs.
11 to 10
Fri. 11 to 11
Sat. 5 to 11
Sun. 5 to 10
Hours
$tpe H>tnofemg Contest
Win a Beautiful Prize. Hand carved pipes and a supply of
Sir Walter Raleigh Aromatic Pipe Tobacco, now on display
in the EMU main display case through Wednesday.
Set a world record. Beat the Guinness pipe smoking
duration record of 253 minutes, 28 seconds set by Yijo
Pentikainen in Kuopio, Finland. March 15-16, 1968.
Men and women 18 and older may enter. The contest
will be held on Friday, December 1, 1978 at 12:30 p.m. in
the EMU Ballroom.
Look for details in next week's Emerald.
Sponsored by Sir Walter Raleigh Aromatic Pipe Tobacco and PRSSA.
POPPI’S Tavema will reopen this December 2-3,
with Beer and Wine for your dining pleasure.
We Serve only the finest in
GREEK PEASANT FOODS