Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-06-14
THE HOUSING SITUATION
PHILADELPHIA has had PRACTICAL

L no building from the time the wal
began up t. the present spring The
normal demand Of the city is for about
5000 new houses each year, so that th'
sh ortagc at the beginning Of the cur.
rent building season was not far from
5000 houses. With building ma
terials costly and scarce aud labor con
ditions not any too we'll settled after
the war. it is not likely that many more
than 5000 or at the most 1900 houses
will be built this summer, and fall and
available when cold weather comes
about the middle or end of October
still leaving a considerable shortage.
This shortage has been met by the
pcople in two ways. First, a very
large number of persons bought their
own homes: second, two or more fami
lies doubled up" and occupied one
house. condition rare here before the
real estate congestion came. Philadel
phia is we'll named the city OF
Homes. for no other city in the coun =
try has so many families both owning
and occupying their own homes.
Thousands Of families who live in
rented houses for years made q prac
tice of letting their leases lapse in June
or early July and going to the seashore
for the summer, thus saving a sum
mcr's rent and leaving the question of
winter quarters to he decided in the fall
when they returned. There are rela-
lively few of these this year. as the
lesson Of the scarcity of real estate to
rent was effectively taught last year
but still there are some, and probably
n sufficient number to be reckoned with
in the fall.
The banks, by their refusal further
to finance speculative investments in
real estate, led the WY to the changed
conditions. Whether or not the finan-
cial institutions felt the force of public
opinion is immaterial. but the opinion
of the people has manner of making
itself felt. and there can be no doubt
that it was entirely adverse to specula
tion in homes as we'll as to speculation
in other necessities Of life.
With the increased prices of building
material and labor. it now costs almost
twice as much to build as it did before
the war. That is. two story house
formerly costing about S2T00 to $4,000
to build now costs about S650O. This
increased cost. Of course, must be met
BY the buyer. On account Of the vast
geographical extent Of the city. real
estate values here prior to the war were
lower than in any large city in the
country. There has been imitation, of
course, and they will drop in the fu.
ture; but it will be years, if ever, be-
fore they return to the pre- war valua-
tions.
Another singular manifestation Of the
real estate stringency has been the de-
mand for the two story house. In many
parts of West Philadelphia they are
selling at larger figures than three
story houses and command more ready
sale. Economy in heating is probably
the chief reason for this, although the
two story house has always been ex-
cecdingly popular here.
The solution of the housing problem.
at least in so far as it relates to the
individual home. is in more and speedier
Until that comes there is
danger that the situation may again
become acute. although any return to
the intolerable conditions of the last
winter and spring is unlikely.