Evening star. [volume] (Washington, D.C.) 1854-1972, 1936-01-25
REAL ESTATE men
OUTLINE PROGRAM
=
Development to Be Kept
on Sound Basis for Values
and Credits.

Proposed action ahead for the Ma
donal Association Of Real Estate
Boards preparing for new real estate
activity, throwing the whole EFFORT OF
the association to make the ground
work Of that advance Is sound Is men
know how to make it, is outlined by
Walter w. Rose, Orlando, Fla, presi-
dent Of the association for the year
1895.
The program, outlined In conso-
nance with discussion Of the aSsocia-
tions whole work at the recent quar-
terly meeting Of its board Of directors
and At other meetings. calls for State
and national action to keep sound the
basis for real estate investment and
real estate credit, with as little gov
ernmental competition with legitimate
business enterprise and private capital
IS may be possible. II states SPECIFIC
immediate detectives In regard to
mortgage marketability and taxation.
It looks to widen the understanding
Of real estate, prepare for needed re-
planning and rebuilding Of American
cities. establish favorable cost and
other conditions for sound new home
Building. and further develop stand
ards Of practice in real estate.
President Rose says:
"IE our field we have had some ire
mendous events in the last few years.
We have come to see both what great
things can be done through govern
mental action and what we cannot ex-
pect to accomplish except through the
Slow accumulation Of individual effort.
Government can aid all Of us tremen-
dously by creation Of agencies to safe
guard needed private activity within
the pattern Of the general welfare.
We shall continue to seek such agen-
cies and to welcome them. But we
have learned, too, how truly all ma
tional advance in real estate depends
arst Of all on development Of tech
niques, standards, principles and
methods within the reay estate bust
ness itself.
= when men embark upon new
enterprises, whether private or govern
mental, they learn as they 60. AS
progress is impeded or becomes I'M
certain in one direction. they do not
necessarily retrace their steps, but
change their course to one better
suited to conduct them to their destin-
alton. A number Of agencies OF gov
eminent have been created, and we
take pride in having. to a large meas
ure, assisted in the organization and
operati N of those which we felt were
beneficial to real estate, and particu-
larly the Home Loan Bank, the Home
Owners Corp. and the Federal Hous-
ing act. The two former have saved
thousands of home owners from the
loss Of their homes and without them,
these homes would have been placed
on the market, further reducing real
estate values. The Federal Housing
act has been Of great benefit to real
estate and allied business in COM
munities where the bankers have
co-operated. Where the bankers have
failed to cooperate, naturally these
benefits have not been realized.
Some of the legislation adopted
are the application Of old ideas to
new purposes. Many Of them are In
novations. Doubtless there will be
many notifications and changes in
them in the future as in the past.
Some no doubt will be abandoned for
one reason or another. AS times
change and experience Is gained these
changes will occur.
1T viii be our effort to assist, with
our advice and work, in guiding these
agencies, as well as new ones that may
be created. along sound and useful
lines, with as little interference or
competition with legitimate business
enterprises and private capital as may
be possible. We naturally do not wish
to propose or encourage legislation
that will limit the honest business man
who desires to invest his capital and
energy in private enterprise, but we
do desire to engage all Of the power Of
our Government which viii; serve to
place real estate upon q sound basis |
for Investment and credit and keep 1t |
there.
With some thirteen and one-half |
billions Of excess credit in commercial |
banks and further billions in insurance |
and other savings institu-
lions being pushed as rapidly as pos
sible into mortgage investment, we
Btill have the problem OF giving the
mortgage marketability. We have not
attained that, not even for the insured
mortgage. As recovery advances we
shall have large scale mortgage
bringing with it the need Of
hiding a sound form of bond Issue to