Evening star., 1933-09-23
MANY SIGNS HINT
REALTyRECOVERY
IN CAPITAL SOON
Situation of Moment Best
Since Prosperity Retreat,
Operators Believe.
BANK DEPOSIT RELEASE
is RATED BIG FACTOR
$S,5OO,OO0 to Be Ready for Public
This Weekday Restoration
Promise Bright.
BY VINCENT TUTCHING.

New and encouraging signs ap-
peared on the rapidly improving real
estate horizon this week. as optimistic
operators noted a business outlook
brighter than at any time since the
prosperous days before 1929.
Many developments of Importance
are contributing to this changing sltu-
alton.
Notably, of course. is the release of
s7.5o0,oO0 in deposits of the Hamil-
ton National Bank, which opens Mon
day. The next day more than $1,000
600 will be paid out to depoSitors OF the
closed Commercial National Bank.
In these two developments real es-
tate men see a stimulating effect to
the entire local realty situation as
funds long tied up become available
for home purchasing. 1t is estimated
that many potential home buyers
whose money has been in these closed
banks will turn their attention now to
making acquisitions in real estate.
which they have until now been forced
to postpone.
L. S. Pay Also Factor.
The clearing up of degree OF un-
certainty surrounding the Government
pay cut during the last few days also
is seen as ali encouraging sign. 1t Is
slash-71s per cent-Wiu be lifted
January /, thus instilling in Govern
ment employees greater confidence in
the stability of their incomes and in
creasing the number of prospective
home purchasers.
The construction industry, which
was more completely devastated by the
depression than any other major in
dustry. has been given life-savlng
injection by the Public Works Admin
istration. The millions of dollars
which the Government is putting to
work in this field in Washington ara
the nearby States is bound to circulate
through all channels of construction,
making available funds fer building
which have been sadly lacking for
several years.
Taking into account that any ap-
praisal of the immediate future of the
building industry must consider tlrst
of all the probable availability OF capl-
tai. these conditions are seen as par
ticularly significant. AT presenI Ine
volume of construction Is a6out ~ per
cent of normal. an amazingly low Level
as compared with the status OF INDUSTRY
as a whole. The turning of money lrCo
construction channels, which has been
long DELAYED, is expected to hasten re-
covery in this department.
Will Ease Unemployment.
With the betterment of conditions In
the construction field. the greatest per-
centage of unemployment will be taken
care of. Next to farming, 1t Is eSll-
mated that more individuals depend
either directly or indirectly. upon con-
struction for a living than upon any
other industry. 90
II is impossible for any program! OF
national recovery to be complete Will
out Improvement in real estate. Inc
money which goes into the purchase o.
q home or into the erection OF ouuor
ing spreads cut among more Hne5 ot VI
business than in any other uFle u
trade. ,,, ,d
quoted price. real estate IS now On tiie
,n.orade It is bound to continue Its
inward swing along with the rest OF
hrsiness and industry. A loosenng OF
+he mortgage money market Wollld give
it impetus ,.;x,r ,,d
There is a demand for housing, ana
veal estate men recognize that .nless
building starts Immediately housing
shortage is inevitable. factor OF
Importance in the absorption OF mouse
vacancies is the trend toward un-
coubling." Families which have dou-
hled up during the last two or three
years will not stay that way. any longer
than it takes to get both feet on the
Ground The exodus will be heavy once
it gets under way.
That real estate is going through a
period of transition is recognized 1llat
+ is ON a steady upward climb to nor
malcv is the belief of aStute observers.