October 28, 1979

The city's major commercial real estate brokers and builders are bracing for a downturn — but not a crash in commercial space development following the Federal Reserve Board's moves to tighten credit.

article on PAF Playhouse, important dramatic institution on Long Island, NY, and 1 of major resident theaters in US; notes playhouse is in period of transition and is suffering ‘throes’ of identity crisis; producer Jay Broad and actor Jose Ferrer illus (M)

review of race for Greenwich First Selectman; Democratic incumbent Ruth L Sims, who 2 years ago became 1st woman to hold post and 1st Democrat in 73 years, is being challenged by Republican Albert F Varner, moderator of 220-member Representative Town Meeting; Nedley is running as independent; pors (L)

Builders are trying to reassure buyers because of homemortgage drain created by record interest rates; commenting are Home Builders Assn executive vice president Richard W Davis, Long Island Builders Institute president Andrew J Rafufe, NJ Builders Assn president Peter A Tucci and builders Aldo Servillo, Esko Koshinen, Julius Mehrberg and Bud Cather (M)

Article on growing interest in house swapping notes in last 12 months an estimated 3,000 Americans swapped homes with fellow Americans and home-owners on other continents; growing popularity is attributed to rising costs of hotel rooms, restaurant meals and rental cars, and to belief that swappers are getting more authentic travel experience; Benjamin Kernan, president of Inquiline travel agency, and David Ostroff, owner of Vacation Exchange Club, comment; drawings; tips on house swapping; listing of some larger home exchange organizations (L)