Evening star., 1933-12-02
REALTORS WILL AIR
CODEMONDAy WITH
OFF|C|ALSOF N. R. A.
Real Estate Boards to Send
Representatives Here for
4.Day Meeting.
MEANS FORWARD STEP
IN FINDING AGREEMENT
Home Builders and Land Developers
Also to Meet to Discuss Federal
Financing.
BY VINCENT TUTCHING.

The Capital will be the scene on two
fronts Monday of activities of para
mount interest to the real estate busi-
ness of the country.
At National Recovery Administration
headquarters the code committees OF
the National Association of Real Estate
Boards and other real estate groups VIII
confer with officials relative to a code
for real estate.
In the Washington Hotel the Home
Builders and Land Developers Natloll1l
Committee will meet with Representa-
tiyeS from all parts OF the onltea
States to discuss Federal financing OF
low-cost housing.
The preliminary hearings OF real es-
tate groups with the N. R A: which
will be held Monday, Tuesday, WedneS-
day and Thursday, constitute a oefnlte
forward step in putting the Nations real
estate under the Blue Eagle 1t Is eX,
pected that public hearings may os ne. iisio
within two weeks after these prellm-
mary discussions.
Six Codes Are on File.
The National Association CT Real Es-
tate Boards has on file general coce
for real estate and five supplementary
coces. covering real estate and insur-
ance brokerage; real estate and building
MANAGEMENT, real estate mortgage
He;,1a 4italias Tnt., land development and home
building and real estate appra1slng
Opposition by other groups to these
s,,nnlemental codes has resulted IN mucn
delay. The Mortgage Bankers AsSocla-
ton submitted code, as did the Ma
tional Association of Building owners
and Managers and the National Asso-
ciation of Apartment House owners.
The Construction League opposed tne
placing of home building under the real
estate code. causing further confusion.
1t is believed the preliminary near
ings NAV have the effect OF stralgnten-
ing out the tangled situation before the
time comes for public hearings
Eui,ders to Meet Monday.
Apart from N. r. A. discussions. the
Home Builders and Land Developers
National Committee will bring toge'ner
residential builders from all parts OF
the United States Monday and Tues
dav in an effort to show the Govern
ment lending agencies there Is
Nationwide demand for new loW-cost
homes. The committee is seeking
billion dollars in Federal funds for
first mortgage financing OF new struc-
lures. ,,;,l.u.
everywhere. the committee says
'.1 There is a tremendous demand
throughout the country for homes III
the $4,000 and $4,000 class; there Is no
over-supply. but an under-supply Oh
homes in this class.
40 The construction of these homes
will not injure values of existing prop
critics. bat will help the sale OF vacant
properties on the same theory that the
construction and sale of new automo-
biles has always greatly aided the sale
of used cars.
Warn Against Competition.
"3 The usual channels Of financing
are gone and will not be available 1or
several years in any proportion 10 tne
need. The Government is the only
source of money today but 1t has to ne
sold on the needs of this large busl-
ness. Unless the men in this business
appear at this Washington meeting ana
act in a united effort, the huge funos
in the various Government approprla-
tions will not only go into other chan
nels. but will be used in competition
with the home-building business.
The committee expects to show the
results of 1000 questionnaires sent out
to every firm and individual in the
business. These questionnaires, the
committee says. will not only show
the amounts wanted individually in
each community, but will collect some
interesting data on savings actually
ready to go into this market from each
community and on the occupations
where such savings are to be found.
It is the plan of the committee to
Detition President Roosevelt and Secre-
iary Ickes to make loans to builders,
the petition to be signed by builders
from all over the country.