The Washington times., 1922-04-30
BUILDING BOOM
GAINS RAPIDLY
DURING MARCH
Reports From Forty Leading
csnters Show Large increase
In Construction Activity.

In view of the far-reachins in
fluence OF developments In the
building industry on general business
throughout the country, the special
survey of the construction situation
just made through correspondents Of
Dun's Review is especially interest
ing and timely. Reports from nearly
forty centers in widely separated Sec
tions Of the United States demon
strate that the revival OF building ac-
tivities, Of which there has been null
tipiytng evidence during recent
months, Is steadily gathering mo-
mentum, and that the future Is re-
garded with optimism.
Practically without exception, the
dispa tches show that a protracted
period OF deferred undertakings has
been followed by resumption Of work
on an important and enlarEtng scale.
with accompanying expansion OF de-
mand for construction materials, and
favorable prospects for further i'm.
provement in these lines. The re-
duced costs Of labor and materials
and the pronounced shortage OF
housing accommodations, both In the
cities and suburban towns, has clear
ly foreshadowed q renewal of build
ing operations Of magnitude, and ad-
vices from some points indicate a
record year. In not q few cases, per-
mits for new construction this spring
have reached the highest mark In
several years, in number as well as
In value, and In certain instances all
previous totals have been surpassed.
With an aggregate Of more than
S218 SOC, 900, the March permits are
fully l10 per cont above those of the
corresponding month Of 1921.
Dwelling Erected.
An outstanding feature OF the
present situation 10 the ccntering
of activities mainly on the erection
Of dwelling houses, under the stim-
ulus OF the urgent and widespread
demand for accommodations Of this
character. While some important
industrial construction Ia In
progress or contemplated. the
volume of such work Is compare
lively moderate In most sections,
current undertakings being con-
fined chiefly to the building Of
to remodeling operations. Public
improvements now under way or in
prospect. however. involve consid-
erable expenditures, both in the
larger centers Of population and in
the smaller cities. On the whole.
speculative projects are Of small
proportions.
II Is clearly evidenced by re-
ports from all sections OF the coun-
try that the easier conditions in
money markets have proved a stim-
ulating factor in the building in
dustry. A conservative policy in
granting loans Ia still adhered to
In virtually all instances, but less
difficulty 10 being experienced IN
securing financial accommodat tions
to be applied to construction activ.
tiles, and rates OF interest are some.
what lower. as a rule. In certain
sections, second-mortgage money IL
more readily obtainabie. Many of
the operations are being financed
through trust companies and build.
ing and loan associations, with
rates ranging from to per cent.
Labor Situation.
The labor situation has unmis.
takably improved, reports OF
scarcity Of workers now being
the conspicuous exception. and
there being q surplus in most quar-
| ters. Wages. especially for com
| mon labor. are considerably lower
and no strikes Of magnitude I'm.
pede progress at present.
Many different trades are beina
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.
Statistics showing the value OF
monthly building permits, exclusive
OF those isued for alterations and
repairs, are compared herewith for
recent years:
1874 1921.
Mar. Io2 cities. .s2is.sss.3ss ,Ios,s33sss
I