New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-06-26
The Building Problem
Hostility of Renting Public Called
Chief Obstacle to Construction

10 the Editor of The Tribune.
Sir: Notwithstanding all that has
been said and written on the need Of
new apartment buildings, few persons
clearly appreciate the extent i the
clty's requirements. The fact Is that
there is need for the equivalent Of
street extending one-third of he wsy
from New York to Albany, built up
solldly on both sides with five story
apartment houses, or, in other words
some 5000 50foot front apartments
This great number Of apartments will
require approximately a Like number
Of purchasers, each Of whom mus,
have capital in cash of $4,000 Or
$4,000, and also the disposition 70
make the purchase.
1t Is not to be supposed that any
such body of men arc TO he found
until the attitude of public hostility
to the landlord is totally reversed aud
ne is accorded in the public mind
friendly recognition as one pursuing
a useful business and one to whom
the public with cheerful willingness
makes payment Of rentals which shall
seem to him adequate and which ae-
cords to him the privilege Of actually
owning and managing the property he
pays for. To bring about this change
of sentiment is the truly herculean
task set before public men, commit
tees, courts and Legislature.
The danger Of strikes may be avoid
ed, building materials supplied,
higher legal rate Of interest per.
mitted, the mortgage recording tax
repealed, mortgage interest exempted
from the income tax, state and ns-
tional; mortgage money provided N
sufficient quantity and on much better
terms than are now offered as to TIC
percentage on value loaned, and ye'
all of these things fall short OF IN
ducing any considerable amount O.
building. The hostility Of the public
still remains. 1t has been demon
ctrated in the past that it is wholly
Indifferent to the grossly inadequsi'
rents which it has heretofore paid, Is
entirely careless os the bankruptcy o.
the owner of such premises and ths'
il would applaud every cheap dems'
gogue and uplifter who could seea"
some new vexatious regulation OF NV
adding to the burdens and responsF
bilities Of the owner Of such bu''o'
ings.
Those who have been sus1eien'i'
near to the business to be the one'
who would naturally come into 1t hss
not failed to note the drastic eaS''
acter of the recent rent laws, the 'e'
current newspaper headlines. nc"
ants Victorious Over Landlords 10 "
Courts" nor the unlawful metn0a'
used to coerce owners and the as'S,
ance which those who had no Know
edge Of the business exercised III
Stunning to determine the amount y
adequate rental. Even the fr'eha'
suggestion that loaning inst'tu''0a'
would confne their mortgage ioSa'
new construction contains t".'
that when the mortgage term eAP"''
the owner Will be left to his own "
vices TO escape q foreclosure, ana
the mean time he may have to comp
with those who have Obtained inv,
property At foreclosure sales. WIZ
such policy renders inevitable A..
The Indifference evidenced ey :"
refusal to take over loans on oid WV
struction reveals to the possie'e
purchaser the indifference OF inc -
as we'll as the puDne,
the rights and reasonable expecsa!'vsa.
of new and old owners alike, ana W, ~.
mere determination to obtain .'s.
tional housing, with little rsgsso -
those who may provide II. -.
CHARLES E. MANIERk
New York, Juno is. 1920.