The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1922-04-28
Reports Show That
Revival In Building
Industry Is General

In view Of the far-reaching in
fluence Of developments in the build
ing industry on general business
throughout the country, the special
survey Of the construction situation
just made through correspondents
Of Dun's Review is especially in
teresting and timely. Reports from
nearly forty centers in widely sep
arated sections Of the United States
demonstrate that the revival Of
building activities, Of which there
has been multiplying evidence dur
ing recent months, Is steadily gath
ering momentum, and that the flu
ture is regarded with optimism.
Practically without exception, the
dispatches show that a protracted
period Of deferred undertakings has
been followed by resumption Of
work on ar important and enlarging
scale, with accompanying expansion
Of demand for construction mater
ials, and favorable prospects for
further Improvement in these lines.
The reduced costs Of labor and ma
terials and the pronounced shortage
Of housing accommodations, both
in the cities and suburban towns,
had clearly forcshadowed a renewal
OF building operations Of magnitude,
and advices from some points indi-
cate a record year. In not a few
cases, permits for new construction
this Spring have reached the highest
mark in several years, in number az
well as in value, and in certain in
stances all previous totals have
been surpassed With an aggregate
% more than s2ls, 900, the
March permits are fully 10 per
cent above those Of the correspond
ing 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 pro-
gress or contemplated, the volume
Of such work is comparatively mod
crate in most sections, current UNI
dertakings being confined chiefly 20
the building Of small homes and
apartments, and TO re-modeling OPP
erations Public improvements now
under way or in prospect, however,
involve considerable expenditures,
both in the larger centers Of popu-
lation and in the smaller cities. On
the whole, speculative projects are
Of small proportions.
II is clearly evidenced by reports
from all sections Of the country
that the easier conditions in money
markets have proved a stimulating
factor in the building industry. A
conservative policy in granting loans
is still adhered to in virtually all
instances, but less difficulty is being
experienced in securing financial
accommodation to be applied 20 con-
struction activities, and rates Of in
tercst are somewhat lower. as a
rule. In certain sections, second
mortgage money is more readily OBJ
tainable. Many Of the operations
are being financed through trust
companies and building and loan as
sociations, with rates ranging from
s 20 ( per cent.
The labor situation has unmistaS-
ably improved, reports Of a scarcity
Of workers now being the con-
spicuous exception, and there Icing
surplus in most quarters. WAGES,
especially for common labor, are
considerably lower, and no strike Of
magnitude impede progress ut pres
ent.
Many different trades are being
favorably affected by the current
activity in the building industry.
and the revival in this line will have
a constructive influence on general
business throughout the country.