The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-10-21
Three BILLION
IN 1922 BUILDING
Americans Break All Records in
Home Construction.
Spend BILLION ON HOUSES

u IND DILLIUN UN I1UUOEs
Exceeding Outlay for All Construc
ton In Any Year Up to 1917, Surve,
Shows-Strikes, General Unrest ant
High Costs No Block to Building
New Business and Industrial Struc
lures In Country Represent an Out
lay Of $3.50, 0Oo, 900.
Total building construction in the
United States during the first nine
months Of this year reached the 'un
precedented sum of $1,000, 600 O0O," S
w. Straus Of New York announced In
making public a nationwide survey OF
the building situation, showing that q
wave of home building by private
owners has swept the entire country
this year."
More Americans became home own
ers during the present year than In
any previous year in our history, de-
clared Mr.. Straus, explaining that ex-
penditures for building up to October
1 exceeded the previous record year
of 1920 by $1,000, 100000. He said that
while this was significant of prosper
ity, "even more significant, however, Is
the fact that about ST 100000 has been
spent in homes in America since Jan
uary II
Home ownership in the United
States, Mr. Straus commented, was
a splendid stabiliZer, because people
who own their own homes are not sus-
ceptible to the teachings of dangerous
radicals"
Referring to this years record con-
struction, Mr.. Straus said:
'"rhe nearest approach to this was
in 1920 when, during the correspond
ing period (January 1 to Octover -,
little more than S2,OOO,00O,00O was
absorbed by the industry. For the
same period in 1927 and 1919 the
amount of money spent in new build
ings was slightly in excess of ST $780,
100000
Home Building Has Doubled.
"Thus, 1t is shown that new build
ings in the United States so far this
year represent the expenditure of
about twice as much money as at any
previous similar period in the history
of the country, excepting 1920, and we
have passed that record year by bill
lion dollars. Moreover, building ma
terial costs were at their peak in 1920
SO the gain in actual new building
space this year is even greater than
the figures indicate.
"Even more significant, however, is
the fact that about $1,OOO,0O0,OO0 has
been spent in homes in America since
January 1. To appreciate this 1t must
be borne in mind that our home build
ing program for the first nine months
this year represents a larger outlay
than was made for buildings of all
kinds during any previous year in the
history of the nation prior to 1917, and
the Indications are that for the en-
tire year our home building program
will represent larger outlay of cash
than was spent for all building pur-
poses during any year before 1919.
"While statistics are not available
showing what percentage of this bill
lion dollars represents new individual
home ownership, the statement can be
made with safety that nothing before
has ever compared with the wave OF |
home building by private owners that |
has swept the entire country this year |
In 1920 there were % 100000 families |
in the United States, II 100000 of |
whom owned their own homes. This |
amount has been enormously increased. |
however. a. there was a gain of II |
per cent IN permits IT, oue,family |
houses in 1921 and this year win sAaW |
a greater gain, it is anticipated.
Strikes No Block to Building.
'Tt is important that in the face of
various obstacles the building indus
try during the year Of 1922 has been
able to show such marvellous growth.
When we consider the many serious
strikes and the general unrest that ex-
sts abroad, 1t is truly remarkable that
80 much new building has been done
his year. 1t demonstrates the funda
mental strength Of American business
Is nothing else can do, and the figures
which have just been quoted should be
note Of optimism to the entire bust
less world.
'HOwever, 1t is even more 1mpOr- |
ant that there has been such large
Increase In home ownership In the
United States. This is one Of the best
proofs that Americans are coming to
Understand the value OF thrift for no
,hase of thrift is as significant OF
light thinking and right living by the
'ublic as home ownership.
'The total amount of money spent
O far this year for buildings OF bust
less and industrial types has been
$50 100000" II
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