New-York tribune., 1921-10-02
ne Into the Country--Have a Home of Your Own
Extend Tax Exemption, Urges
Speculative House Builder
" "alter kraslaw Says 1t Brought House Builders Into
Building Field City Would Do Well to
Offer Subsidy for Another Year

reach its later proportions, and certain
~ the dealers in materials and supplies
could not have anticipated that ap-
proXimately so per cent of their busi-
ness for the current year would origi-
nate from sources that heretofore
! they We're never overanXious to serve.
There IS little doubt in the minds
Of the professional building public, the
architects, material dealers supply
manufacturers end sub contractors,
that the speculative builders who have
been most active throughout the city
during the last year are far different
in type from the majority Of those
who formerly onopolized this bust
ness. The average speculative builder
to-day is hard-headed business man.
honest because he wants to be and
not because he is forced into adopting
this policy. Speculative builders as
a class to-day enjoy not only the con-
hdence of the building fraternity, but
OF the general public as we'll, and they
are locked upon rs Il group who have
accomplished much for the welfare Of
home seekers and the advancement of
civic health and prosperity
Investors Are the Profiteers
Much has been said about specula-
tive builders being profiteers. This
statement is far from being true The
average builder Of this type-of course,
there are e&ceptions-is satisfied to
sell his structure when finished at a
reasonable builders profit. Vixen he
cannot SELL because OF fat market con-
ditions and is forced into the position
of renting and managing his own prop
ertles, his rentals are almost uniform
ly fair and so related to his construc-
ton, operating and management costs
as to be equitable to his tenants.
The prime offender in the profteer-
ing line is the investor. in the major
lty of lnstances--the individual who
purchases the completed structure from
the builder and then attempts to see
how great a return he can command
upon his frequently more than mod
crate cash investment. The real spec
ulatlve builder never WAS, never want
ed to be and never will be a profiteer
IN the sense this word has been lat
terly applied to landlords. He has
neither time nor inclination to bother
with renting and managing properties.
His principal desire S to get his
building completed sell at a reason
able profit, and then apply the turn
over on another operation and so con-
tinue the cycle.
Building Has Only Started
Realizing that prevailing housing
conditions, while better than they were,
are still far from satisfactory, the lead
ing speculative builders in this CITY
are making preparations for the COM
ing season on large scale. Accord
ing to these preliminary plans the res
idential construction during 1922 in all
probability will surpass that Of the
past season in both number and value
of operations. The demand for one and
two family houses and accomm odations
IN multi-family buildings where rentals
are moderate is still keen, and build
ers Will continue to erect structures Of
these classes as long as the demand
continues. There are large undcveloped
tracts in Brooklyn, Queens and the
Bronx. Sections where transit facil-
ties are excellent or likely TO be i'm
proved as the requirements for better
service become noticeable are avail
able for Improvement, and numerous
builders are now assembling plottagcs
with this idea in mind for their onera-
tions next spring. To MY mind, the
house building movement only OBJ
tanned fair start this season, and il
the taX exemption measure is extended,
as almost every ole | meet thinks ii
should be, the construction activity Of
speculative builders during the spring
and summer Of 1922 should be FAR in
excess of the activity of this year; a
m ovement that viii amount to a house
building boom destined to become his
toric IN the annals Of New York City