The Washington herald., 1922-04-30
WORK ON ERECTION
SWEEPS COUNTRY
FROM END TO END
Acute 10 using Short
age Leads Builders to
Huge Programs.
DWELLINGS NEEDED
Easier Conditions in Money
Market Prove Stimulus
To Construction.

In view Of the far-reaching in
huence of developments in the
building industry on general busi-
ness throughout the country. the
special survey of the construction
situation just made through corre-
spondents OF Dun's Review is espe-
- eislly interesting and timely. Re-
ports from nearly forty centers in
widely separated sections Of the
United States demonstrate that the
revival of building activities, Of
which there has been multiplying
evidence during recent months, is
steadily gathering momentum, and
that the future is regarded with op-
timism.
Practically without exception the
dispatches show that a protracted
period OF deferred undertakings has
been followed by resumption of
work on an important and enlarg-
Ing scale. with accompanying ex-
pansion of demand for construction
materials, and favorable prospects
for further Improvement in these
lines. The reduced costs of labor
and materials and the pronounced
shortage of housing accommoda-
tions. both in the cities and sub
urban towns. had clearly fore
shadowed a renewal of building op-
erations Of magnitude. and advices
from some points indicate a record
year. In not a few cases permits
for new construction this spring
have reached the highest mark In
several years, in number as well as
IN value, and in certain instances
all previous totals have been sur
passed. With an aggregate of more
than s21S, ,600.0 900. the March permits
are fully 1l0 per cent above those
of the corresponding month of 1921
An outstanding feature of the
present situation is the centering of
activities mainly on the erection of
dwelling houses, under the stimulus
Of the urgent and widespread de-
mand for accommodations of this
character. While some important
Industrial construction is in prog
ress or contemplated, the volume of
such work is comparatively moder-
ate In most sections. current under
takings being confined chiefly to
the building OF small houses and
apartments and to remodeling op-
under way or in prospect. however.
Involve considerable expenditures,
both in the larger centers of popu-
lat:on and in the smaller cities. on
the whole, speculative protests are
OF small proportions.
1t is clearly evidenced by reports
from all sections of the country
that the easier coniitions in money
, markets have proved 4 stimulating
fac:or in the building industry. A
conservative policy in granting
loans is still adhered to in virtual
ly all instances. but less difficulty
Is being experienced in securing
financial accommodation to be ap-
Piled to construction activities, and
rates of interest are somewhat
lower, as rule. In certain sec
tions. second-mortgage money is
more readily obtainable. Many of
the operations are being financed
through trust companies and build
Ing and loan associations. with
rates ranging from to s per cent.
The labor situation has unmis-
takably improved reports of a
scarcity of workers now being the
conspicuous exception. and there
being a surplus in most quarters.
wages. especially for common Ia
Dor. are considerably lower. and no
strikes of magnitude impede prog
ress at the present
Many different trades are being
favorably affected by the current
activity in the building industry.
and revival in this line will have a
constructive influence on general
business throughout the country.
statistics showing the value of