Evening star., 1923-07-14
BELIEVES BUILDING
SLUMP PARKWAY
Mckeever Sees No Indication
of Any Let.Up in WASH
ington.

Some people not familiar with the
situation have gotten the erroneous
idea that this country is in danger of
being overbuilt. This is not true un-
less the statistics and available in
formation fail to represent the situa-
ton as it is" according to r. L. Nc
keever of the firm of McKeever &
Goss.
AT the expense of considerable
time and trouble. 1 have endeavored
To check up from the available sta
tistics to ascertain just what the
future might hold in store, and l am
convinced beyond doubt that it will
take maximum amount of building
for the next five years to furnish
adequate housing and store facilities
for the people of the United States.
Slack Taken Up.
This situation is demonstrated very
clearly by the fact that wherever the
building program of the country fell
below normal for year or more this
falling off was compensated for in
the immediate ensuing year or years
by rise in the amount of construc-
tion above normal
Beginning with 1914. the construc-
ton program of the country fell be-
low normal. and remained below nor
NAL until about the middle of the
year 1922, and at times went as much
as 90 per cent below normal. Two
billions of dollars was the valuation
placed by economists upon the stores
and residences that should have Deen
constructed to provide for the coun-
try's normal development between
the years 1914 and 1922. Therefore
il is plain to be seen that this coun-
try must continue it's building pro-
gram at a tremendous rate ABOVE
normal for many years.
Study of Statistics.
"Tbe phenomenal building activity
now prevailing throughout the coun-
try, as well as in Washington. Is
therefore, not an unusual conu con, ltioii ~ ~
but only a condition that could naSt
been predicted several years ago by
any one interested enough 10 STUDY
the statistics. ~,
However. in my opinion. the
amount of construction during the
next FIVE years may vary to some eN-
tent In other words, IT may huc-
tuate, but il is tionably GER
tain that the amount OF new con
struction must average well ABOVE
normal.
Our records" said Mr.. MckeeVer
indicate that in Washington the
need of new houses is as imperative
today as it was year ago, ana tne
cost of construction is today consld-
erably higher than year ago. some
economists have predicted fall lr
the cost of construction, but l am
frank to say that / can see nothing
to indicate such a course of proce'
dure In the first place. and ] an
speaking now particularly of Wash
ington the cost of skilled labor is as
high as if not higher than at any timt
in history, and only a person un.
familiar with labor conditions would
suggest that wages will be reduced
in the immediate future, and wages
are the controlling factor in the cost
of building.
Material Is High.
Building material is high and scarce
and | can see no immediate prospect
for a decline in that commodity. Land
values. which. during the period of
the war stagnation, remained at a
stationary level because there was
no demand for land upon which to
build, have become increasingly high
er since the war. and land available
for houses in the District of Column
bia has become correspondence
scarce.
"In my opinion. the people who are
continually predicting lower prices
for real estate are not informed on
the subject and are not in d position
to know the actual facts