The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1926-01-02

y ACKNOWLEDGEMENTS
from $4,000 to $1,000 population,
which have been experiencing rapid
growth during the last few years.
Residential construction viii UNI.
doubtedly still continue to account
for the largest single portion OF
should come from those sections
which have been favorably affected
by the notable Improvement in the
position of the farmer. 1t has been
estimated that more than 1910 ,OOO,-
900 worth of new farm building con-
ystruction is needed to keep pace
with the normal needs for this type
OF facilities.
Passage by Congress of the pub
lie buildings bill providing 100000.
900 for new Government structures
throughout the nation and $50 900.
900 for new department headquar-
ters in washington, would also give
impetus to the 1926 building pro
gram.
Demand for Cheaper Housing.
There is also the great need Of
suitable facilities for the housing
Of persons Of average means. In
other words, there is an unGafisfled
demand for moderately priced apart
meilts and homes throughout the
country. This need will also have
to be met before any serious falling
off in building can be expected-
IN New York city, stupendous
building program has been under
way and II is estimated that opera
lions for the year win total peIWee sl
$500, O0O, 900 and $1,000 .OOO, 900. no
other city In the world mas come
anywhere near experimenting this
record Of building activity which
seerns to q, great extent, to have
wined out the building shortage.
Although there IL must talk uf
oyar-nrOduction, careful survey or
the situation shows that in certain
districts there will still be found
an lInsatigffed demand for special
tvnea. Cf housing and commercial
buiIdings. The problem appears to
ba. aim0ef entirely one of location
rather than of general supply ana
demand. Light and accessibility OF
location are important factors IN
the rental desirabilfty and market
ability Of new buildings.
The real shortage In New York
appears to be in the class OF low
rent housing. This Is q proDlem
that demands the utmost consideTa-
ton Of the real estate interests as
q whole. Experiments aIreaoy con !.
Quoted in this direction nave AZ
least demonstrated the posslDl - y
AZ the successful solution OF TINS
problem.
Urges Caution in Financing
The utmost caution il necessary
in practically every large city IN
fha Country. to avoid overbuilding;
hut the Importance Of declines IN
ren4s and vacancy percentages, such
az have been reported from various
sources during the year, have been
unduIy exaggerated. believe that
All prospective building projects
should be carefully scritinized and
Judged on their individual merit.
Each project must be taken up and
considered by itself. and the proba-
BILE future course as to rents ana
occupancy must be charted with
the greatest possible degree OF &C
curacy. We must all use the ut
most care and good Judgment In the
financing OF. new construction.
Taking into consideration o. the
elements which go to make the
building program, it appears sane,
safe. and conservative to prsdict
that 1926 will be another great
building year, not varying ! more
than 5 to 10 per cent from the 1925
figure.
There is much satisfaction and
significance in. the. fact that build
ing operations are proceeding at
such a tremendous pace. Il means
prosperity and affords the business
pessimist little comfort.
Another big building year, with
the general business condition of
the country showing good healthy
trend, T. believe, form the founda-
ton for. continued prosperity in
1926.
Prosperity on Sound Basis
Certainly the important improve
ment in political and economic con-
ditlons in Europe, in the financial
position Of the American farmer,
and In the domestic political situa-
ton would seem to offer a sounder
basis for real prosperity than has
been available for the last five
years. b.
Indication of this l. also found
In the fact that practically all
major lines OF industry during the
last year have been operating at
the highest rates since the break
ing Of the postwar boom, while
such important divisions as build
ing. iron End steel production, and
automobile manufacturing promise
new high annual totals. Futher-
tina HfNnonniaI rfo io1n