The Washington times., 1919-03-01
D. c. BEHIND IN
BUILDING WORK

The District OF Columbia and ada
cent territory is not approaching nor
NAL building activities as rapidly as
are cities and States in the central
West In the District of Columbia
the demand for buildings is as press
ing as anywhere In the country, and
building authorities appear to be
agreed that real estate values and
rents will increase, generally. rather
than decrease during the next few
years. OF course, where rents have
been boosted artificially, as has been
in the case in many instances here in
Washington, they win decrease, but
the normal rent level for the next
year or two, according to those who
are studying the building conditions
Of the country. is to be higher than
the pre-war level.
Government Issues Statement.
The division Of public works and
construction developments Of the
United States Department Of Labor
today issued a statement based on the
work OF economists who have been
studying conditions in the District OF
Columbia, eastern Pennsylvania,
southern New Jersey, E'aryland, Della
ware, and Virginia. The statement
says the value OF building and engi-
neering contracts awarded during the
first week in February was $2,187, 900
in the territory named. During the
second week in February 1t was ST.
5T7, 900, and in the third week but
S1,17O,O0O. The total for the three
weeks was $4.934.00O, as against $15,-
S05,0O0 contracts awarded in the
l.
ures are larger than the normal total
for that month, since during the years
1910 to 1917, inclusive, the figures for
January did not at any time exceed
$4,000, 900.
It is apparent, from the results OF
the investigation made by the divis-
ion OF public works and construction
DEVELOPMENTS, Of the Labor Depart
ment. there is a hesitation in this
district, as well as in the New Eng
land States, about going ahead with
building activities. Perhaps, in a
measure, this may be accounted fo=
by the uncertainties existing hereto
fore as to labor conditions. Much OF
this hesitation. however, grows out
Of the popular impression that there
is to be an early and material de-
cline in building costs.
Few Price Reductions Due.
The most careful students OF prob
lens connected with price levels, ex-
press the conviction there is not like
ly to be any general reduction OF
prices for some time to come. In
other parts OF the country, notably
in the central west building con-
struction already is picking up and,
as soon as building interests come
to understand the futility Of delay
for lower building prices, there viii
be, undoubtedly. great activities in
building throughout the country.
Economists with the Department Of
Labor are quite positive in their pre-
dictions on the increase in land values
and the probable increase of rent
levels. These two features of the
realty situation suggest the prudence
of the renter. getting over into the
home owning class. He can buy real
estate now, in Washington, at rock
bottom price with assurance that ii
will increase in value very rapidly;
also, to own his own home is to afford
relief from the rent collector. These
two factors, in connection with the
that building costs will
not be lowered soon, If ever, are
many persons to build
homes for their own use. There ap-
pears to be more confidence on the
part of home builders. than on the
part of investment or speculative
building. And yet, here in Washing
ton, the demand for building, the
future of the city. make the field safe
and attractive for both classes Of
building.