The Washington herald., 1922-10-21
BUILDING OUTLOOK
CONTINUES STRONG,
EXPERTS DECLARE
John A. Petty, Local Sec
retary, Attends N. Y.
Sessions.
REPORTS PROGRESS
Cities Need More Homes;
Body to Solve the
Problem.
REPORTS PROGRESS

Tie meeting of the governing
COMMITTEES of the National Associa-
tion of Real Estate Boards held In
New York last week. according to
John A. Petty, executive secretary
OF the local board. who attended the
sessions. was,a very successful apd
Important conferepcs. Delegates
from local boards representing over
~ different cities attended this
Jnference and accomplished def
mite results in formulating an ex-
tensive and progressive program of
national activity for the coming
year.
One OF the most interesting con-
ferenc,s held In New York was the
experiences meeting at which the
delegates recounted conditions in
their local communities IN respect to
housing. rentals. building construc-
tion and financing. The. discussions
and reports brought out at this con-
ference very accurately harmonizsd
with the statistical report on busi-
ness conditions made by the secrs-
tary of the national association
Data collected from local boards
situated in I46 different cities IN
response to questionable that
had been issued about two months
ago produced very interesting re .
suits. The figures on the housing
situation from a national stand
point clearly demonstrated the seri-
business of this problem as q ma
Honal one.
Notwithstanding that practically
pll of the cities reporting noted ul~
usual increases in building opera
lions during the psst year, only two
fities had reached the point where
they were considered oycr-built.
Quite a few cities reported that the
nouse-building program os the past
year had about net the shortage,
but a large majority re"orted that
there was still a distinct shortage
existing. In every instance the
shortage was most apparnn: in the
moderate-priced homes and particu-
larly those available for rental pur-
poses.
The scale OF rentals. according to
these reports, indicates that normal
stability has not yet been reached
In tn residential properties, gener-
ally speaking. here stnl seems TO
be a tendency toward an increase.
indicating that the income from
such properties has not YET met the
conditions Of increased costs. In
respect to rentals for business prop
critics most cities likewise show a
tendency TO somewha: higher
level except in certain 10 ,aiities
where possible ovsr-prod IG:iIn OF
office buildings has resulted in .
decline In rentals for space In this
character of property.
COincident with the un1sIal
building program an unusually good
the sale Of homes. However. the
tendency in this direction nctics-
ably applies TO the aiOderate prl I'D
type of homes that sell on INSTALL
msnt payment plans. The market
for sales in business proper 'es con-
tinues to be good generally. the few
exceptions noted apply 20 certail
Western and Souther7 towns that
are experiencing s1me local indus
trial depression. Another item .hd
created considerable interest in tie
course Of discussion was tbs quss-
tiCn Of financing. From the reports
it was apparent that the mortgage
ruOnev market is ST. somewhat in
voIvcd. Perhaps so Per cent "f the
cities reporting CLAIM that fhe
available mortgage money in their
community is still insufficient. AL
though the tendency is toward i'm
provement In this respect While
ths rates vary in different sections
q distinct average Of approximately
6la per cent was reported.