The New York herald., 1922-05-08
Building BOOM IS ON
TOKN0CK HIGH RENTS
Nationwide Revival of Con-
struction Reported to
Reserve Board.
BIG RELIEF BY AUTUMN
Department of Justice in
Touch With Prices to
Halt Pr0fiteers.
GAIN In THIS DISTRICT
Permits Are Double Those Of
Year Ago-General Jump
80 Per Cent.
GAIN IN THIS DISTRICT

Special Dispatch to THn Ngw YonK HERALD.
New York Herald Bureau.
Washington. ID. G.. May IT,
A nationwide building boom Is about
to deliver a knockout blow to tie
housing shortage and high rents.
New York and other big cities by
this autumn will be able to return
nearly to prewar standards of living
as far as shelter is concerned.
Construction Of homes is going
ahead approximately twice as fast as
a month ago. And month ago build
ing was proceeding twice as fast as a
year ago.
That real boom is in progress
throughout the country Is confirmed
in reports to the Federal Reserve
Board from bankers and business men
In practically every section. The
banking reports are confirmed by re-
ports from other sources to the United
States Employment Bureau. Falling
rentals are bound to follow the in
creased building. In addition there
should be these accompanying de-
velopments:
Steady employment for more than
3,500,000 carpenters. laborers and
other building workers throughout
the country.
Indirect revival of business In in
dustrics allied with building. such as
lumber and brick manufacturers,
hardware, paint and furniture.
Advancing prices for vacant build
ing land.
Guard Against PrOnteering.
Should proHteering building contrac-
eors attempt to take advantage of the
demand for their services and their sup
plies the Department Of Justice and the
Federal Trade Commission are keeping
In touch with prices to protect the fam
lily builders.
Lumber companies will not be allowed
to conspire to advance prices arbitrarily.
There Is no intention on the part of the
Government to interfere with the legiti-
mate conduct of business.
Approximately s2S0.0o0,0 900 Is repre-
scented In permits to erect new buildings
in the principal cities within thirty
day period. for which the Federal Re-
serve Board has just received reports.
The extent to which a boom Is develop
ing Is seen from comparison of this
total with the total of permits during
the preceding period, when the total was
42.000,0 900. The difference represents
gain Of more than so per cent. Some
of this gain is seasonal.
In the New York Federal Reserve dis
trict, which corresponds, roughly. with
the State, the total of permits increased
more than 40 per cent. In the month
and was nearly double that of a year
ago. Large gains also were reported
from Pennsylvania and New England.
The building boom is definitely labeled
mot local.
Housing Conditions.
The extent to which the American
standard of living was lowered by the
war as far as shelter Is concerned Is
shown by a report of the Census Bu-
reau. This shows there are in the
United States nearly $4,000, 900 families
and slightly more than 20,000.00O fam
lily shelters or homes and apartments.
II is equivalent to saying that more
than 100000 families are sharing quar-
ters with others. Divorce is increased
according to some judges, by the circum-
stances which compel more than one
family TO share the same home.
In the Juvenile courts Judges frequent
iy discern the roots Of delinquency in the
lack of proper parental supervision
caused by congestcd living conditions.
Young girls and boys are forced to seek
recreation and diversion outside OF the
family circle and often under circum-
stances which are not conducivc to right
living.
Secretary OF Labor Davis blames the
housing shortage in part for Industrial
warfare and the economic depression.
High rents tend to keep the cost OF llv-
ing at an artificial level. In the opinion
OF Mr.. Davis, at time when prices OF
sll necessities except shelter have been
rcadJusted from the war time level.