New-York tribune., 1919-12-28
Brooklyn Leads as Great
Dwelling Section of CITY
Small Homes Are Being Built i'm Large Numbers:
Experts Regard This Better Improvement
Than Apartments; Rents Are Upward Bound

1nlng know or to increase production.
rms Will benefit the men themselves as
well as help to decrease prices of all
commodities; and there will be nlcntv
of work. as I believe 1t will be i'm,
possible to catch up with the present
demands for period Of five wears. ir-
respective of what is done to speed M
work.
Life Insurance Co. Not Lending
There has been some criticism Of the
loanlng institutions, including title and
mortgage companies and savings banks.
tor not lending on new construction.
i rom my experience most of them have
ocen most liberal and are lending all
within their means. 1t must be borne
IN mind that the title and mortgage
companies are only loaning small per
centage of their own money and that
they can only loan to the amount of
their sales OF mortgages, mortgage GER
tihcates and bonds, and it would not
pc prudent for them to loan~on the
fuli basis OF increased cost of con-
structlon and labor. Therefore, build
ers and investors must put in larger
percentage of the cost of an opera
tion than heretofore.
1t would help materially, however, If
the life insurance companies which col
lect millions of dollars yearly from
people living in and around Brooklyn,
would change their policy by making
loans on flats and dwellings in this
borough instead of looking only for
the larger loans in the borough of
Manhattan and elsewhere
The class of construction that is
now going on Of single family houses
is the best thing for this community,
as believe it creates better citizen
ship to have people living in these
dwellings instead of being crowded
floor, and the loans on this class of
bHilding have always been conservative
and one of the best forms of invest
ment.
A little more practical thought on
the part of the city officials in PLAN
ming for the improvements that are
needed for the construction Of houses
in the suburbs where there are no
water mains laid, but water mains
within short distance Of the prop
erty. and where there are no street
improvements, would help greatly and
would lessen the cost of construction
in these sections. | have in mind one
development in the Borough Of Brook
lyn, where houses are being erected
to sell for 1900 apiece, some Of
completed each week but the city has
not the water pipe to give these houses
the facilities they must have. The
Water Commissioner, while doing
everything in his power to assist, is
tied up with red tape, and it will be
some time before he can get the Board
of Estimate to pass the appropriation
for more pipe.
Home of Many
With Brooklyn having the largest
number of voters of any of the five
boroughs, and with the increased
transit facilities that will come as soon
as our transit system is completed,
such as the Fourteenth Street subway,
the Montague Street subway and the
various incompleted sections in the
outskirts and with the values in Brook
lyn. as compared to Manhattan in the
proportion Of five to one, and with
real estate paying a fair return, with
the prospects Of all completed build
ings paying a materially increased re-
turn within the next year. there is no
doubt in my mind as to the future, both
for the builder and the investor. But
little cooperation all around by the
lenders, by the investors, by the city
officials and the various city depart
ments, and especially by the labor
unions and the men themselves, will
help greatly to decrease the existing
shortage Of housing which is rapidly
increasing, and which l fear will be
most acute during the coming year
No laws or Investigations or rent
profteering committees can counteract
the natural laws of supply and
demand These committees and laws
will only accentuate and add to the
burden and the natural hysteria that
is created by public clamor, but will
not increase building, which is the only
means of relieving the situation.