Evening star., 1922-10-21
Vashngons Growth Reflected Real and Building
j. S. HOUSING STILL
! SERIOUS PROBLEM
Real Estate Board Reports
Discuss Conditions, Says i.
John A. Petty.

Seriousness of the housing situa-
tion nationally was clearly demon-
strated In reports made last week at
the conference in New York of the
governing committee Of the National
Association of Real Estate Boards,
according to an announcement by
John A. Petty. executive secretary of
the local board. who attended the
meeting.
Data collected from local boards
situated in 146 different cities. in re-
sponse to a questionnaire that had
been issued about two months ago,
produced very interesting results.
NotWithstanding that practically all
or the cities reporting noted unusual
increases in building opefations during
reached the point where they were
considered overbuilt. Quite a few
cities reported that the house build
ing program of the past year had
about met the shortage, but a large
majority reported that there was still
distinct shortage existing. In every
instance the shortage was most ap-
parent IN the moderate-priced homes.
and particularly those available for
rental purposes.
Normal Stability Not Reached.
The scale of rentals. according to
these reports. indicates that normal
stability has not yet been reached In
speaking, there still seems to be a
tendency toward an increase. indicat-
Ing that the income from such proper
ties has not yet met the conditions of
Increased costs. In respect to rentals
Tor business properties most cities
likewise show tendency to some
what higher level, except in certain
localities where possible overproduc-
tion of office buildings has resulted in
decline in rentals for space In this
character Of property.
Coincident with the unusual build
ing program. an unusually good mar
ket IL generally reported for the sale
of homes. However. the tendency in
this direction noticeably applies to
the moderate-priced type of homes
plans.
The market for sales in business
properties continues to be good gen.
orally. The few exceptions noted ap-
towns that are experiencing some
local industrial depression. Another
Item that created considerable inter-
est in the course Of discussion was
the question of financing. From the
reports it was apparent that the
mortgage money market is still some
what involved. Perhaps so per cent
of the cities reporting claim that the
available mortgage money in their
community is still insufficient. al
Shou6h lic tSHueHCS Is lo"dTu III
provement in this respect. While the
rates vary in different sections. a dis
tinct average of approximately 61s
per cent was reported
Delegates from local boards repre-
senting over 100 different cities, at
tended the New York conference and
accomplished definite results in for
mulating an extensive and progressive
program of national activity for the
coming year.
One of the most interesting sessions
was the experience 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 harmonized
with the statistical report on business
conditions made by the secretary of
the national association