The Washington times., 1929-11-30
SPURT IN HOME
CONSTRUCTION
PREDICTED


Increased money available for
home construction as well as for
eommercialized and industrial con-
Etruction, is viewed by Harry H.
Culver, president of the National
Association of Real Estate Boards,
as one of the ultimate results Of
the conference which President
Hoover held with construction
leaders at the White House last
week. Culver represented the ma
tlonal association at the meeting.
The conference was a prelimi-
nary one looking to the formation
OF some organization committees
within the industry to make fur
ther survey and further recon-
mendationS to the President.
President Hoover's interest in
improving the means of financing
home construction and in widen
Ing home ownership. which he
often has expressed earlier in his
work as Secretary of Commerce,
was given fresh emphasis at the
conference" Culver stated.
Program Is Wide One
'"The conference brought out
the fact that the President has in
mind the stimulation of construc.
ton generally in apartments, Of
flee buildings and homes, as well
as in industrial construction. road
building, municipal improvements
and State buildings.
THE whole country is looking
into its constructive building needs
In new way as a result of the
conference" Culver continued,
and is coming to see what sub
Stantial ground there is for we'll
planned, intelligent expansion and
replacement to give business and
industry it's most efficient setting.
There is. in addition, real growth
of public taste toward efficient
and modern homes as instruments
for happier and more efficient hu.
man living.
I'VE feel the substantial ground
under our feet in relation to our
whole business and industrial
situation"
The Presidents conference was
largely for the purpose of obtain
ing information regarding the
situation in different Segments of .
business in the field of real estate
and construction. Since the vari-
GUS branches of the construction
industry are primarily service or
ganiZations in character, the con-
ference was chiefly for the pur-
pose of determining the actual
situation upon which sound con-
Struction must proceed, and to
arrange for the industry's CO.
operation in undertaking the
various projects which it is in
tended to launch as a part OF
the Presidents program.
Small Homes in Demand
It was stated at the conference
BY officials who have been max
ing a survey of the residential
building situation that construc-
ton of this character for the first
10 months of 1929 was about
$4,000, 900 below the figures for
residential building for 1928. Re
ports coming to the National Asso-
ciation of Real Estate Boards lndl-
cate that the strongest demand
in the realestate field for the
coming year will be in the field
of the small and inexpensive
single-family residence, Culver
said.
"All indications point toward
adequacy of funds for BUILDING,
Culver declared. Financial in
stitutions throughout the country
are in sound condition; the recent
stock-market slump will be a
factor in bringing 1880 money
into business investment chan
nels; we may be assured that in
come tax will be lowered all
along the line, and the Federal
Reserve Board is approving re-
duction in the rediscount rates to
AZ per cent"
The realtor president pointed
out that the recommendations to
be made by Secretary Mellon to
Congress in connection with the
public buildings program contem-
plates making $50,000,000 avail
able for this purpose annually,
instead of $35,0O0.OOO, the figure
previously named The Secretary
will ask that the present allot-
ment of $25,OOO,00O for buildings
outside of the District of Colum-
bia and $1O.OOO,OOO for buildings
within the District. be increased
to S15,OO0,0O0 for District of Co.
lumbia buildings. and $35, 900
for those outside the Capital City
Valuable investments are the Wash
InStOn properties advertised In Times
or Herald Classified real estate ads