Evening star., 1931-12-26

IContlnued From First Page)
seen any wisdom in trying to press
offerings.
While prices have reached a lower
ievel during the current year. they are
pelleved to be stabilized at the present
low level. The cost of building now
Is ABOUT Is per cent less than 1t was
last year at this time. This is due
cnleny 10 the lower costs of materials.
approximately SO per cent Of construc-
ton cost is incurred bv labor and about
81 per cent by material. While there
has been no published scale reduction
IN the wages of skilled workmen, labor
charges have been reduced, either
through, direct cutting of the scale or
indirectly. There Is an abundance of
both skilled and common labor.
Inc supply OF practically all ma
terlas on hand is far beyond imme-
olate requirements, and naturally the
productlon has been cut to mini
mum. No marked Improvement in out
put can be expected until the surplus
STOCKS Will have been reduced.
Real Estate Inactive.
The real estate market continues
rather inactive and there now is con-
siderable vacant property. due largely
to many families consolidating their
living quarters. However, very few
new homes were erected during the
past year, and some authorities are of
the opinion that an actual shortage of
dwellings will occur when conditions
again will have become normal. Values
OF business property also have shrunk
and conservative builders are disin-
! clined to embark in new operations un-
til property values will have become
, more stabilized
In Baltimore the building situation is
believed to parallel closely that which
exists in most sections of the country.
With total of S1,772,04O last month.
Baltimore ranked third in a list of Is
cities reporting the largest volume Of
permits for that month. being surpassed
only by New York City and Los Angeles
Baltimore's total for November, 1880
was 81 1,946 100, and for the same month
| of 1929 was S2,23280O
These figures indicate a consistent
| contraction, but it is believed that the
recession is now past history. The
| figures for October 1881. we're sl.599..
| 240 and the month of April. with per.
mits ot3ling $5,869,440 marked thu
/ highest valuation for any month thi.
year. For the l1-mopth period ended
! November 80. the total valuation O.
permits was s28, 769.5 $50. contrasted witt
| $30,786,7l2 for the like period of 1880
| a decline of only S2017,l92. The tota
| fer 1880 was s32, ,628,952 which figure
! this years aggregate is unlikely Il
| reach.
Richmond Figures Drop.
In Richmond permits for new con
Struction and alterations for IL month.
| of 1881 represent so per cent of thu
| total for the same period of last year
Several large governmental. bankint
and institutional construction projects
| permitted for last year. have either
! been recently finished or are nearing
, completion. Current contracts of thi
! nature are smaller and less numerous
Residential building, while material,
below normal, is on a par with that O.
| last year Money for building opera
tions is obtainable only on substantial
collateral
In Norfolk, while building permit.
for November, 1881, amount to Silt.
225, against 1921, ,691 for 1890, condi
| tons in the building industry for tht
Ye1r compare favorably with those O.
the one preceding. There is practically
no speculative building being under.
taken. with : construction centerins
around residences and additions anc
repairs. large amount of demolition
work is under way, and the only major
building project is the new post Office
to cost about 100000