Evening star., 1934-08-10
BY JAMES A. MOFFETT,
FEDERAL HOUSING Administrator,

FEDERAL Housing Administrator.
II Is well to emphasize the fact
that the time for the property owner
to start his modernization work is
now.
There are many sound reasons why
this is true. In the first place there
are many types Of repair work that
should be completed before the ar
rival of cold weather.
might enumerate among these the
protection of plumbing to prevent
freezing. the protection Of wood and
metal by painting. checking heating
system for efficient service, repairing
a leaky roof, cleaning or replacing
when necessary cutters, downspout'
and flashing, installing storm windows
and doors. weather-stripping anc
proper insulation, cleaning fiues anc
seeing that chimneys draw.
Point Stressed.
There are % States in which the
January temperature averages 80 de-
grees or below The point 1 an
stressing will, I am sure, be readily
understood without the need Of 60
ing into more details.
Another and equally important rea-
son why modernization plans should
be put into effect on commercial, in
I,,ztssa1 oad rneida,,4ioI etr,,c+Yrae v,nu
is that every day that obsolescence is
allowed to continue means added cost;
10 the property owner.
There are many buildings rapid!
nearing the point where they arr
without value. The processes oi
deterioration continue day in and day
out, but are greater in Winter thar
in Summer A building that still
may be restored to good condition il
repairs are started now might, il
neglected just little longer be SO far
gone that it would not be worth try
ing to save.
Start Now.
1t is not aniss to remind the prop
erty owner that the very first signs
of decay should be the signal fol
immediate action. Therefore, purely
as a matter of good business and gooc
management-the time to start youl
modernization work is now.
Still another point is that property
owners are being offered unusual CO.
operation from the Government al
this time and there could not be g
more favorable time for the property
owner to borrow money for improve
ment purposes than now.
Our better housing program for in
suring financial institutions against
100 per cent of all loss, provided the
total of such loss does not exceed 2(
per cent of the total volume of such
credits advanced, should and will OF
the machinery of credit for those
who wish to modernize their prop.
critics.
Will Help Community.
Moreover, there are other reasons
not as directly selfish, perhaps, but
equally as important One of thest
is that every dollar spent in the i'm
provement, repair or modernization o.
buildings helps the community in
which the property is located.
There is something contagious about
things of this sort. Let man re-
paint his home and trim up his prop
erty generally and 1t will not be Ions
before others in his neighborhood
will begin to follow his example.
And beyond the civic spirit which
we trust will be aroused by our mod
ernization plan, there lies the fact
that we are all endeavoring to do what
we can to further the cause of general
business recovery. We, of the Fed
eral Housing Administration, hope and
believe that our present effort will con-
tribute something to the momentum OF
this great movement.
Win Aid Recovery.
When YOU buy building supplies and
hire workers to moderniZe your prop
erty, you are helping the general
cause of recovery. You are putting
money into circulation not only in
your community, but throughout the
country.
In behalf of the Federal Housing
Administration l wish to say that we
want no one to undertake the moderni-
zation of his property who is not in a
financial position to undertake the
obligation.
When property owner borrows
money from a bank and invests it in
improvements, we want every such in
vestment to be sound and profitable
and beyond this element of self-inter-
est I am hopeful that this campaign
will appeal to every fair-minded owner
of property as a matter of civic pride
and a general desire to be helpful in
the present national recovery effort.