The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1922-01-29
ERECTION REALM
OPTIMISTIC OVER
1922 SUCCESSES
Says Rents in Southern
States Will Undoubt-
edly Show Decrease.
ERA OF BUILDING
Thinks that Labor Costs VIII
Show Lower
Trend.
By G. L. MILLER.


As we look forward to building
conditions and possibilities collater-
al thereto for 1929, the question Is,
What will the harvest ber" From
contractors. building supply deal
ers. architects and others, we are
Of the conviction that 1922 will
show an optimistic, continuous, ex-
banding movement.
A very important question with
sh tenants-and, in fact. with every
other well-wisher for the good OF
Southern progress, Is whether or
not rents will decrease. and how
far, in 1922? We believe rents will
decrease. Real estate values are
unusually high. These should sus-
tain a further decline. Denation Is
apparently like a plague; 1t Is no
respector Of commodities. With the
rapid decline in prices. real estate
has gone slowly downward. We
may logically expect real estate 70
decline for some time, with the
possible exception Of welI-loeated
building lots for residence purposes
One Of the heavy costs in con-
struction Is labor. As hard as II
may be for labor TO sustain a de-
crease, this, to US. seems inevitable
IL rents are to decline We think
therefore, labor costs will show a
lower trend before the end of 1922
Rents will cheaper. money become
easier for building purposes. as
real estate depreciates and labor
costs normalize. Reasonable labor
costs, reasonable rents !and lower
money costs for building purposes
will do a great desl toward build;
ing up the South along solid sub.
stantiaI lines. =.
Great Building Era Here.
The building industry is called 9
basic industry" 1t is one Of the
great factors in the permanent
prosperity of a country. This com
tinued construction provides en-,
ployment for thousands of skilled
workers. enables the employment OF
idle funds to useful purposes
serves the need of real estate own.
ers and fulflls the essential pur.
poses OF providing stores, oficei
and homes for our civilization.
In all of twenty-one leading
Southern cities there is an untitled
demand for homes, apartment
structures, office buildings, hotel
and other income-bearing properties
N In
enc leading cities. there Is scarcely
a fireproof apartment structure
Due to the hosts of people who con.
stantly seek the South because Of
opportunity for growth and ad.
vanCement here, due to the grea'
number of large Northern manu-.
featuring concerns who are seek
ng the South as an outlet for their
products, who desire agencies II
Southern cities-thus bringing II
new families to hlI up apartments
residences and office buildings
there is no doubt about the Who'll.
South experiencing an unusual era
of building construction for the
next twenty or thirty years. It 1:
unlikely our leading Southern cities
will be overbuilt for a long period
Of time. Hundreds Of millions Of
dollars will be paced in Southern
building construction for genera
tons. providing the structures cree.
ted are freproof. sanitary, healthfui
and well located.
As a people, we are possessed
with wonderful latent resource.
beyond the power of human minC
To comprehend" We have a basi.
Tor the creation of employment anc
vast wealth in natural resources
We lead the world in potentialities
We have climate. geographical 10.
cation and all the elements which
go to create success and prosperity
We ought to be a happy people
We ought to be an optimistic PEG.
pie. Let US all, for 1922, SO regu.
late our employment that optimism
will radlate In an overwhelming
circle. For the building industry
there is nothing ahead but con.
tinuous prosperity.