New-York tribune., 1919-06-22
By John L. Parish
Secretary Ner York Title Under
icyiters' association

Secretary Neac York Title Under
icriters' association
There is no escaping the conviction
that New York City and vicinity is fac
inc a greater commotion in the condi-
lions respecting housings this fall than
over before. Ever since the end of the
hghting in Europe, in November, when
New York City began to loom as the
most desirable place in the world in
which to live and work and play, de-
fciency in the supply Of housings has
been apparent to everybody.
Everybody has been thinking and
talking and planning ways and means
Of supplying this deficiency. An official
Investigating committee reported that
their inquiries showed that homes for
$4,000 families we're required to meet
the immediate demand. Many of these
have been provided for by doubling up,
and into hotel life, and by taking up
old houses and tenements that had been
tacitly thrown into the discard.
But meantime the population and the
demand for housings have been in
creasing until, by every sign known and
familiar to the practical observer the
stringency has not only not relaxed but
will be far greater after the vacation
season is over than ever before.
1t is beyond doubt that the city would
grow at twice the rate it did during
and before the war if there were hous-
ing accommodations for all who wanted
to come here.
Hitherto the building organizations
and forces of the city have been able
to keep up and even little more than
keep up with the demand for habita-
tlons. and newcomers to the city could
safely take chances on finding some
thing at least adequate for their i'm
mediate requirements.
10000 Homes a Year Normal Demand
Statistics of growth show that in
pre-war times from 10000 to 10000
new tenements including private
houses and high class apartments) had
to be provided yearly to meet the COM
bIned demand of natural increase and
immigration. To a large extent this
growth was suspended during the war,
and with it went complete suspen-
sion Of building operations. But with
the close of the war and probably be-
cause of the triumph over Germany,
the demand for homes has returned
with redoubled energy.
But with all the thinking and talking
anu d!OIcSalu tne mount OF
practical provision of new housings
amounts to very little. Of that which
sill be ready by October 1, it is doubt
ful whether there will be accommoda-
ton for hundred families. Including
oil that is really under way with fair
prospect of completion by the end of
inc wear there does not seem to be
enough to suffice for a thousand fami-
lies. Yet there is urgent and pressing
demand for at least thirty thousand
families, and if there was any likeli-
hood Of new supply for sixty thou
sand families there is not particle of
doubt but that they would all be taken.
and at rentals at least double what
they would have been only four years
ago. +rf
With this unprecedented condition
and growing out of it such apparently
compelling incentives to build, the COM
man man, and especially the unprovid
ed homes akers. will be able to see
only deep, dark mystery in the fact
that so little building is under way.
Big Lenders Are Lending
There are probably among those who
know it all still few who can ac-
count for the mystery by telling you
that the big insurance companies, title
companies and mortgage companies are
IN conspiracy to prevent any new
construction by Withholding their
money from mortgage loans. Every
body else knows better, of course
knows that. these institutions have
loaned all that they have to lend and
a. last as new money comes in, are
putting it out in the usual way, by
preference where it promises best re-
suits IN the production of housings.
h1
der present conditions is but a drop
IN the bucket in relation to the full
financial requirements of a building
movement that would measure up to
the requirements.
Money a Prime Factor
Money, as everybody knows, is the
iourth primary essential to the con-
s,ructlon of houses. Land is the first.
the second is building materials, labor
IS third and the fourth is money. All
are equally essential, and up to the
spring of 1917 there was enough of
ssen to suffice for all the require ments
oi tnis greatest and most rapidly grow
Ing Of cities.
But in the spring of 1917 the Fed
.tai government began to requisition
lae second, third and fourth of these
requisites. and by the fall of 1918 had
ss"eH an that was IN sight of materi-
S.s ana money, and nearly all of labor.
Al u mad left to the market some pro-
. uslon OF money perhaps labor and ma
serlals might have been found with
snish to keep the building machinery
~ the city in partial operation, but,
.of some inscrutable reason, the Ad-
aihlstration at Washington refused to
Win its War Finance Corporation
5. u provided adequately. not 70 say