Evening star., 1938-05-07
MODERATE-PRICE
HOMES URGED
Pressing Need for Building
Of Type Cited by Federal
Officials.


Architects may reap a rich profess
sional reward and at the same time
perform a much needed public service
by offering the American small home
builder a soundly constructed, WE'LL
planner house of pleasing but not
pretentious design which may be
financed on a moderate income.
Moreover. pressing need in the
United States for between 100000
and 100000 new dwellings-mostly
Of the one-family types matched
by some $50 1000, 900, 900 in unemployed
savings. part of which might be used
to construct them.
Thes are the outstanding conclu-
sions reached by Ormond E. Loomis.
assistant to Chairman John H. Fahey
Of the Federal Home Loan Bank Board.
who has completed an intensive study
Of the Nations housing needs and
their relation to the architectural pro-
fession.
A brisk improvement in the build
ing business as we'll as millions of days
of employment for artisans would
result from tapping the small homes
market. which. Mr.. Loomis believes,
awaits only intelligent development,
based on cooperation between archi-
tects. builders, mortgage lenders and
labor. He estimated that the l,500,-
600 to 100000 homes now needed
would cost between $4,000, ,O00, 900 and
$4,000, 100000, and that, in addition,
the expenditure of more than S2,000.-
100000 is required to repair and mod
ernize some 100000 existing DWELL
ines.
Housing Ma ior Need.
Housing is one of the major needs
and opportunities Of our genera ton"
Mr.. Ioomis said The need for re-
pair and modernization is currently
increasing because Of deprecia ton
and obsoleScence of old houses. Un-
less these structures are reconditioned
they will continue to depreciate rapid
~ with ineXcusable losses TO the own
ers and to society as a whole"
So much for immediate needs
Looking into the next decade. Mr..
Loomis estimated 100000 new homes
will be required annually to provide
decent housing for Americas expand
ing population.
Adding the accumulated shortage
Of dwelling units" ne explained. lit
Is clear that within the next 10 years
We must provide approXimately 8,000,-
600 dwellings for American families.
That is the number of dwelling units
needed, measured oy potential de-
nand."
Financing this construction pro-
gram. vast though 1t is. should prove
no problem in view of Mr. Loomis'
estimate OF money now lying idle In
savings institutions.
In spite of financial sTingency in
many quarters" he said. the supply
Of private savings in the United
States is steadily accommodating, and
there is on hand enough TO provide
for a jor housing boom At the
end of 1887 there was approximately
$50,000, 100000 in ascertainable saw
ings held by individuals in financial
institutions. postal savings and United
States savings bonds.
Insurance Savings.
Included in this total, in the order
Of their importance, are savings rep
resented by life insurance policies
$3.50, 900 100000, savings deposits in
commercial banks 100000 O0Op, in
mutual savings banks (Sl0.214000.-
n00l, private accounts in savings and
loan associations (s5,500, 900 ,000D, pos
tai savings certificates tsl.270.000.-
000) and United States savings bonds
1884 600, ,o00)."
1t is apparent, then. Mr. Loomis
concluded. that America has not only
q pressing need for a large housing
program but also the money to carry
It out. However, he commented:
Each element essential in the pro-
duction Of housing appears to stand
OF and consider the other, waiting
for show of courage and initiative
IN which by maneuvering the others
may gain some advantage
1T is apparent what this coun-
ance between labor. industry, finance
and the public. a cessation of their
destructive warfare against each
other and concentration of their
forces on productive achievement
The futile antagonism of productive
units arises not of failure to recognize
that they are essentially interdepend-
ent and that what hurts one inevita-
bly, Injuries each of the others"
1t is in the field of small home
building. Mr.. Loomis concluded that
the greatest opportunities for archi-
tects and contractors now lie.
Want Single Houses.
Most Of our American families"
he said, clearly want single. detached
houses. These houses, as in the past,
will be built chiefly in our smaller
urban areas. During the last three
years there have been more dwelling
units erected in proportion to popu-
lation in cities of from 10000 to
$4,000 than in any larger size group,
the percentage in 1897 being approxi-
mately so per cent greater
In 1886. 73 per cent of all nom
farm dwelling units built were single
family houses, and of these 646 per
cent were in cities of $4,000 or less
During 1887. of all the dwelling
units provided in cities of from $4,000