Evening star., 1940-06-22
lusk Declares u. :.
Has Realty Stake
Of 10 Billions
. Says Philosophy Beck
Of U. S. H. A. Is Reul
Danger to America
Danger to America

The Federal Government has a
stake of close to $4,000, 900 900 in
American real estate, and up to
December, 1899, almost S., 900, ,OO0, 900
had been used to finance and con-
struct all types of structures and
more than $3,250, 100000 of private
expenditures were guaranteed, Ru-
fus S. Lusk, secretary of the District
Building Owners and Managers
Association, said in addressing the
national convention of building
owners and managers held in New
York City this week.
"The amount of property which
the Government owns or has a
mortgage on" Mr.. Lusk said, equals
almost two-thirds of assessed value
OF all the real estate in Greater New
York, over eight times the value
Of real property in the Nations
Capital, five times that of Chicago
and four times that of Detroit.
Most people think the Govern
ment's housing activities concern
only the erection and financing of
houses and apartments Nothing
could be further from the truth.
Our Government has built or
financed community buildings, audi
toriums, cotton gins. factories,
hosiery and grist mills, sorghum
plants, canneries, barns and poultry
houses, SlloS and hoghouSes.
$4,000 Engaged in Housing.
"Over $4,000 persons are directly
engaged in housing. Their pay roll
Is almost S90,OO0,000. They spend
over $30O0,OOO a year in travelling
expenses. These figures do not refer
to any employed in actual construc-
ton.
The Government has so many
real estate agencies 1t has formed
q Central Housing Committee, which
is supposed to coordinate the diff
ferent activities
Through 1899, 675,ooo dwelling
units have been built or financed
by the Government. In addition
thousands of other types of struc-
lures have been erected through the
Government. The Farm Security
Administration has built more than
$4,000 units other than houses. In
this group were 38 different kinds
OF structures, everything from
garage to gate house. This bu-
reau has spent $S8,723,OOO of the
taxpayers money for construction of
houses, etc, and another $4,000 900
IN the development of the COM
munities and farms on which these
houses were placed.
All OF this Government housing
Is more or less in competition with
every improved piece of property in
America. Much of it is tax exempt,
all financed up to the hilt. Let
another slump come and tens of
thousands of these Government
financed houses will bounce back
into Uncle Sans lap. The H. o. L.
c. now owns 68,535 foreclosed homes.
These holdings will be but a drop
IN the bucket to what the Govern
ment may be forced to take back.
Slum Program Called Bait.
"The U. s. H. A. was sold to the
country on the assumption that it
was to be a slum clearance program.
That was the bait. 1t is not a slum
clearance, it was never intended to
be and it is not being administered
with any real thought to clear slums.
or the Al U. S. H. A. projects on
which rents were established in
April. 1910, II involved the tearing
down OF not single house, 9 less
than so units each, and in only two
were the number of units torn down
equal to the number constructed. In
these projects 1878 units were built,
put only 5,O27 were razed. Only
3l.6 per cent as many dwelling units
were demolished as built.