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� 1�✓.iost builders in the business today have come up "through the ranks" from being carpen�ers, electricians, or some other skilled employee in the building business o Some have entexed from the real estate ranks or other �elated businesses. Despite the significance of the builder's product, for all practical purposes there is no formal training for this business. There are only one or two universities that give a degree in house building, and none that grant a degree covering all phases of com- munity development. As could be expected, each builder has his own strengths and weaknesses which show up in his operation. One builder may be a particularly good salesman but not very knowledgeable in design or the legal aspects of his oper.ation. Another builder might be sensitive to design but wealc in salesmenship or financial operations. These characteristics of the builders and the buildin industr essen- tia y pro uce a very cautious �.n conservative group. Many uil ers walk a tightrope between rea�sonab�e pro��t and poss�ble bankruptcy. The industry itself is precariously tied together by all types of financial prograr�s. Capital .for all phases of building is very heavily dependent upon credit. These situations, in conjunction with the other factors mentioned, require the builder to make fairly quick decisions about location of operation, housing type, etc. , and at the same time to pro- ceed with caution so that he does not step off the deep end. This siivation creates a psychology of producing what was previously success- ful and being extremely wary of radical changes. The Lende r and the Lending Field The lender is in business to make a profit with a minimum of risk< Fundam�ntally, he provides a service and the necessary financing for the whole housing industry and the consuz�ner. The lending risk does not usually depend upon the builder selling his house to the consumer but upon the con�umer continuing to meet his obligations. In addition, the lender is concerned that the property maintains its value over a long peri�d of time in the event that foreclosure might becarne necessary. This is somewhat the converse of the builder who generall;� is not directly involved with the house after its sale. �Vhen the lender invests . money in construction loans and land development loans, he is concerned with the ability uf the builder to market the product. � In contrast to the building industry, the lending field is very articulate and hi lzl or anized with se ments of it extremel influential on national housing policieso The lending ield can best be described as eing composed of a nuinber oi homogeneou� groups, savings and loan associa- tions, cominer�ial banks, and others vying for businesse Each of these groups is tending to look, and operatE more like the others as time goe:s on, although each ha,s varying requiremPnts and characteristics. The savings and loa.n associations have had phenomenal growth since the 1930's. This growth has resulted from a number of factors, but pri-- marily from legislation, programs, and encouragement of the federal governinent. 5ince savings and loan associations a.re not only interested in supporting ancl promoting residential construction but more specifically, 17