New-York tribune., 1919-05-16
Builder Thinks
Boom Will End
Home Shortage
Horowitz Says Construction
Is Active Now and In
creasing Daily; Feels
Sure of Meeting Needs

The building industry of the entire
country is awakening from its war
enforced lethargy and is making rapid
strides to head off the approaching
housing crisis, L. J Horowitz, presi-
dent Of the Thompson Starrett Con-
struction Company, declared yesterday.
Mr.. Horowitz's company built the
Equitable Building, the Hotel McAlpin
and other large Office and residential
buildings, in addition to constructing
Camp Upton, built under the personal
supervision of Mr.. Horowitz.
He characterized the present state
OF the building industry as "extreme-
~ active and declared that it's activity
Is increasing daily. He predicted a
steady growth IN living and industrial
construction as soon as the general
and financial public comes to realize
certain economic changes. Mr. Horo-
WITT had an encouraging word for
iapor tie SAID wages should not and
would not descend The THOMPSON
SStarrett company employs between 80
GOO and 10000 men.
Building Costs Going Higher"
6uiiding costs are going higher be-
1ore they start to descend, if thew ever
do, Mr.. Horowitz said. Labor is
nigh as should be, Only a panic can
prlng costs down, and we do not want,
panic.
People must learn to accept the
present economic conditions and the
value of the dollar as normal. Tho
present value of the dollar is not a
percentage of its value in pre-war davs
-put represents one dollar IT is tho
new normal. There will be no return
AS soon as the public comes to real
3ze tnis, conditions will improve rapid
~, Buildings will spring up. Loans
wli De made more readily. Even as it
is, construction is picking up We have
contracts for apartments and ofGce
ouiidings all over the country. New
business IS coming daily and we feel
tnat we might soon be forced to refuse
some OF the profered business"
Joseph T. Day, real estate operator
and auctioneer, also was optim;st;c
He declared that the patriotism Of The
american public including the fnan.
clers, Will come to the rescue and nro-
mote construction. The prime neces-
as.s OF investing money soon will be
recognized. he said. A permanent svs-
tem must be devised, ne said. whereby
ouiioihg loans become permanent mort
cages on property
Realty to Lead Investments
He predicted that althouob ,oa1
Sate Is usually the last type of invest-
meht 10 show favorable returns -
TIME II Will be the first. and bn;,d;na
fiji soon take its place as h;oh c1aass
FORM Of investment. e'"'S
hixn taxes, both state and nationa,
kanra "' estate Investments discouraged
Danks and insurance compan;es go Su
making building loans, asserted pohont ,ho,',
q. lowing, president of the Civ IN
sesting Company. A considerable rar
.ioh OF tnls money has been invested
10 Liberty bonds, which are exemnt
or bowling said. 'p''
buffalo and other upstate cities a]so
gre oelng harassed by the HOUSING
gsoDiem, Jonn Alan Hamilton, presi
Isio and Chairman of the HOUSING Com
mittee OF the New York State Recon
etructlon Commission said yesterdav
an upstate advisory council has been
formed, with county committees in
sacn county, to work out solutions for
tne problem, he said
workers are hocking back from
lfscts; soldier husbands are divid;ny
,es-mothers and dauohtsrs"h
wnicn had doubled up and are looking
icr tnelr own homes" Mr.. Hamilton
said. These people find the houses
wh'cn they previously occupied either
unavailable or too high in price to 90
psex to. Families are being crowded
Police Commissioner Enrigh, vester-
day pledged cooperation with the
Mayors committee on rent profiteerin0
IN gcrreting out the gouging landlords
II letter 10 Chairman Hirsch, OF the
Mayors committee. he said that snv
eases of fragrant profteerinx coming
70 the attention Of the Police Depart
frsnt, will be promptly reported.
Three disputss between landlords