Evening star., 1926-05-08
REAL ESTATE
BY ROBERT j. COTTRELL..

Building in Washington last month
9eached the huge total of IS ,65S, ,585,
She largest month Of the year, which
placed the total amount of construc-
tion in the District since January / at
23500, 900. Last year was the peak
Building year In the history of Wash
s"s:-ton, and when the end of Decem-
her came, showing a total of S64 &c.
BIB. many predictions were made that
1925 would stand lvr many years as
the record.
When 1926 star ed out with plenty
of houses remaining S~sOld, as well
$ many vacent apartment, the abate-
ment in building which featured the
beginning Of the year was received
with genuine relief among those prom
inent in local building and financial
circles. After a short hull however.
Construction started ND again with a
epurt at the end OF February that
has placed the first aour months Of
the present year about $4,000
ahead of the same period last year,
with the most ambitious projects.
such as the National PreeS building,
the Washington BuildinE and other
projected undertakings yet 10 he filed.
The present prospects show that If
his activity is continued, construction
here will reach at least S10,00O,O00
by December.
Anxiety Shown by Some.
Heretofore those in close touch with
the development of Washington have
been elated at the rapid growth and
Improvement of the city Now, how
ever. there are rumbings against too
much speculative building, and every
where one goes the question is ask
ed "Where will it Stopr" True, all
these people believe in the growth OF
Washington. bur many If them won
der if perhaps construction is not
getting somewhat too far ahead of the
pace Of development of the city.
The dizzy pace of residential con-
struction will be apparent when IL
is realized that if the present pace
of the construction continues, par
ticularly in the apartment field, hous-
ing accommodations for $4,000 more
persons will have been provided here
hv Christmas.
Last year was peak year and 5000
units were built. So far this year
$500 have been constructed. or about
500 more units than the same period
last year. In 1926 a total of 3,3SS
apartment units were built. SO far
this year 2,0t4 have been built. or
more than 500 more than the same
period last year. Apartments anu
office buildings have been built all
over the city, and the only section OF
the building industry that maintains
any analytical study of conditions
here-nameIy, the operative builders,
who erect private residences-have
checked their operations. This Is re-
checked its significant. The construc-
ton of houses, while still large, has
dropped from 1900 for the first four
months of last year to 1920 for the
same period this year.
There is no use denying that there
are a large number of unsold houses
on the market and the organized
speculative builders largely are act
ing accordingly. for the financing and
CARRYING of unsold houses is serious
problem which reflects not only on
the firm interested. but upon the
banks. the subcontractors, the man
ufacturers and community property
as we'll.
It is true there are a. number OF
operations now selling fast and there
has been an upward trend in the
sales market recently, but this is
generally indicated in the very cheap
properties and in developments that
have proved unusually attractive.
situation Carefully Watched.
Thus the house builders are care
fully watching the situation. How
about the apartments? This is the
uuestion discussed all over town, in
banks, in real estate Offices, in busi-